Risk magazine
Stress on US banks rises in Q2
US banks face rising losses and continuing economic stress, with little reason for optimism in their second-quarter results, analysts say.
Tradition COO to retire
David Pinchin will retire from his position as chief operating officer (COO) for the Swiss brokerage Compagnie Financiere Tradition (CFT) from August 31.
RBS hires head of equity derivatives strategy
RBS Global Banking and Markets has appointed Stephen Einchcomb as head of equity derivatives strategy for Europe and the US.
Thomson restructuring causes headache for CDS index tranches
Market participants are uncertain how to deal with index tranche products referencing the iTraxx credit default swap (CDS) indexes following the restructuring credit event at French media company Thomson, which was a member of the indexes.
Investors should force Hong Kong regulatory reform, says legislator
Ronny Tong, a former barrister and member of the Legislative Council of Hong Kong (LegCo), believes Hong Kong should replace its various financial regulators with a unified regulatory body. But he told a Hong Kong Investment Funds Association luncheon on…
$1bn warrant auction design still undecided, US Treasury admits
Despite news of an impending auction of more than $1 billion of warrants on JP Morgan by the US Treasury, it remains unclear how any such auction would work.
Asic takes over regulation of exchange trading
The Australian government has ended self-regulation of the Australian Securities Exchange (ASX), making the Australian Securities and Investments Commission (Asic) responsible for supervising trading on Australian stock markets from the third quarter of…
CFTC and SEC plan meetings to co-ordinate activities
The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) will hold joint meetings in September to address regulatory overlaps, and streamline regulation of financial instruments.
UK banks braced for punitive liquidity rules
The UK Financial Services Authority (FSA) is pressing ahead with plans to implement strict liquidity rules from the end of this year, but banks remain highly critical of certain aspects of the new regime.
New co-heads of global foreign exchange options at BoA
Christopher Bae and Thomas Gillie will join Bank of America as managing directors and co-heads of global foreign exchange options in October.
New head of local markets trading at RBS
Jason Richardson has been promoted to head of local markets trading across all asset classes at Royal Bank of Scotland (RBS).
FDIC: crisis validates US Basel II delay and leverage ratio
The decision by the US to retain the leverage ratio has been validated by the events of the financial crisis and spared the country from an even more severe fiscal implosion, a senior Federal Deposit Insurance Corporation (FDIC) official has claimed.
SEC shortlists two measures to prevent abusive short selling
The US Securities and Exchange Commission (SEC) named its two preferred measures for preventing abusive short selling on August 17.
MF Global expands fixed-income team
New York-based derivatives broker MF Global has boosted its fixed-income teams in the US and Europe with several new hires, hoping to benefit from the increase of debt issuance in global markets.
Federal Reserve announces extension of Talf
The US Treasury and Federal Reserve confirmed on August 17 that the Term Asset-Backed Securities Loan Facility (Talf) will be extended from its scheduled finish at the end of this year to June 2010. Some market participants have taken the news as a sign…
UK may issue exchangeable gilts
The UK Treasury may issue bonds exchangeable into shares of Royal Bank of Scotland and Lloyds TSB, according to the asset manager responsible for the government's stakes in the two banks.
US and English courts on potential collision course over Lehman structures
Legal battles over a series of collapsed structured finance transactions in which a subsidiary of Lehman Brothers was the swap counterparty could produce divergent opinions from US and English courts, causing far-reaching consequences for trustees and…
Citadel hires derivatives portfolio manager
Thomas Vergnaud has joined Chicago-based hedge fund Citadel as a portfolio manager with responsibility for derivatives strategy.
Fitch survey reports improved investor sentiment
After two years of turmoil, the credit markets are showing signs of recovery, according to respondents to Fitch Ratings' latest quarterly European senior credit investor survey.
Airlines use aircraft as alternative to cash in margin calls
Airlines with fleets of unencumbered aircraft are starting to use them instead of cash as collateral required for large margin calls in derivatives trades, such as fuel hedges.
New US rates and forex derivatives heads at SG
Peter Toolan and Anna Faustini have joined Société Générale's US interest rates and foreign exchange derivatives team for corporates.
Risk Europe 2009 -- Were You There?
A short video showing the highlights of the Risk Europe 2009 conference in Frankfurt in June.
Basel liquidity standards due in December
The Basel Committee on Banking Supervision is set to unveil quantitative liquidity requirements for public consultation at its quarterly meeting in December, the co-chair of the committee's liquidity working group has told Risk News.