Risk magazine
JGBi breakevens rebound as investor liquidation subsides
The Japanese inflation-linked bond (JGBi) market has rebounded from its lows of last year as fewer investors are liquidating their positions, while some domestic players are starting to buy the heavily discounted bonds.
Ice Clear Europe launches CDS clearing
Ice Clear Europe, the facility set up by Atlanta-based central counterparty (CCP) IntercontinentalExchange (Ice) for the clearing of European credit default swaps (CDS), has obtained regulatory approval and started clearing operations.
New head for CME's proposed European clearing house
The Chicago Mercantile Exchange (CME) has named Andrew Lamb as chief executive of its European clearing house, CME Clearing Europe, subject to regulatory approval of the venture.
Industry still failing on risk management, surveys find
Two years after the start of the credit crisis, many financial institutions are still without adequate risk management, according to two recent surveys.
Lack of liquidity means a comeback for vol swaps
Dynamic replication of the payoff of volatility swaps on single stocks in illiquid markets is cheaper and easier than replicating variance swaps payoffs, dealers say.
Spanish rules cushioned banks from the crisis, says top regulator
In an exclusive interview with Risk , José María Roldán, director-general of banking regulation at the Banco de España, explains how a unique regulatory framework has led Spanish banks to adopt prudent trading and risk management processes that paid off…
Banks' CDS spreads tighten after positive Q2
Market sentiment towards financials has improved in the past week as the continued wave of positive second-quarter bank results helped nudge the cost of credit protection lower on all major US and European banks.
Cooksey to manage UK government's stakes in banks
David Cooksey will join UK Financial Investments (UKFI), the company set up to manage the government's stakes in UK banks, as chairman on August 1.
BarCap expands Asia forex team
Barclays Capital has made a number of new hires for its Asian foreign exchange business, including Ivan Ferraroni as head of forex bank sales for the Asia-Pacific region.
Eurex CDS clearing solution to start on July 30
Eurex will begin clearing European index and single-name credit default swaps (CDS) as of July 30, the exchange said today.
New EMEA FICC head for Bank of America Merrill Lynch
Sanaz Zaimi will join Bank of America Merrill Lynch as head of fixed income, currencies and commodities (FICC) sales for Europe, the Middle East and Africa (EMEA) in early 2010.
New heads of prime brokerage and listed derivatives at UBS
Stuart Hendel and Mitch Moore have joined UBS as global head of prime brokerage and global head of exchange-traded derivatives, respectively.
Regulatory turf war hits Congress
A battle for influence among US financial regulators broke out in Congress on July 24, as they testified before a Congressional committee on the merits of the Obama administration's proposals for regulatory reform.
Leverage ratios are "counterproductive", says IIF
In a new report on how to strengthen financial regulation, the Institute of International Finance (IIF) has proposed some measures directly at odds with options currently being explored by regulators in both Europe and the US.
Billions more deficit for PBGC after GM bankruptcy
The bankruptcy of General Motors has left the pension schemes of the company's bankrupt supplier Delphi in the hands of the US Pension Benefits Guaranty Corporation (PBGC) - adding an estimated $6.2 billion to the corporation's already massive deficit.
Q2 profits a false dawn for banks, Moody's says
Rising funding costs, continuing writedowns and the withdrawal of government support could push the global banking industry back into crisis, analysts warned this week.
US Talf helps CMBS market recover
The Federal Reserve Bank of New York's Term Asset-Backed Securities Loan Facility (Talf) is helping to revive the commercial mortgage-backed securities (CMBS) market, analysts have concluded, although the chances for residential mortgages to be included…
European supervisors press for more detail on EC overhaul plans
The European Commission (EC) is expected to publish feedback on its proposals for an overhaul of financial supervision in August, but senior European regulators are already expressing concern about some aspects of the proposed reforms.
Tarp supervisor finds Treasury's oversight is still inadequate
The US Treasury is still failing to protect its aid to US banks from fraud and misuse, according to the latest report from the special inspector general for the Troubled Assets Relief Program (Sigtarp).
JP Morgan rejigs equity derivatives unit
JP Morgan has rotated and promoted a number of key staffers in its Asian equity derivatives unit, with severalrelocating to the UK and US.
Tarp inspector general calls for more clarity on banks' use of funds
The US Treasury's special inspector general for the Troubled Assets Relief Program (Tarp), Neil Barofsky, has called on the Treasury to force banks to report their use of the Tarp's bailout funds. But the Treasury is reluctant to do so.
Doubt over Fed’s ability to limit systemic risk
The Obama administration’s proposals for safeguarding the financial system place the US Federal Reserve at the heart of a new regulatory regime for systemic risk, but some former regulators are sceptical of the Fed’s ability to carry out the job.
Trading and one-off gains lift bank profits
Trading activities and one-off gains helped US banks record positive results during the week ending July 17, despite a continuing deterioration in traditional lending businesses, analysts said.