Risk magazine
BIS warns of "enormous risks to recovery"
In its annual report, released June 29, the Bank for International Settlements (BIS) warned worldwide rescue efforts for the financial industry might be inadequate.
CDS spreads tighten on financials
The cost of credit protection on major US and European financials fell in today's European and Asian trading.
Taiwan FSC backs down on structured products rules
Taiwan's Financial Supervisory Commission (FSC) has scrapped a controversial proposal that would have required foreign banks to park 70% of the proceeds from the sale of structured notes with Taiwanese trust banks. The country's financial sector…
AIG forex prime brokerage bought by BNP Paribas
The US foreign exchange prime brokerage business of AIG Financial Products (AIG FP) has been transferred to BNP Paribas, along with eight staff.
FSA extends short-selling disclosure requirement again
The UK Financial Services Authority (FSA) has extended its disclosure requirement for the short selling of 30 UK financial stocks.
'Improvement in market conditions' sees Fed cut bank aid
The US Federal Reserve Board has cut back several of the support facilities put in place over the past 18 months, arguing the recovery of the financial markets has made them unnecessary.
CDS spreads unmoved on financials
The cost of credit protection on major European and US financials was almost unchanged from yesterday in today's European and Asian trading.
Bank of England calls for "credible threat of closure"
In its latest Financial Stability Report, released today, the Bank of England has emphasised the need for banks to face "a credible threat of closure", and recommended higher capital and liquidity reserves.
SEC to tighten rules on money market funds
Money market funds, the retail investment funds which exacerbated the effects of the financial crisis in September last year, are to come under far stricter oversight, under draft rules announced by the US Securities and Exchange Commission on June 24.
CDS spreads move on automakers
Market sentiment was varied towards car makers in European and Asian trading today, while staying unchanged from yesterday on major financials.
Rise in inflation coming as rates remain low, BarCap predicts
Inflation is set to rise in late 2009 and 2010, driven by rising commodity prices and low central bank rates, according to research from Barclays Capital, released on June 25.
Risk Derivatives Summit : balance sheet reform is essential
Runaway credit growth was at the root of the crisis, and regulatory reform must start by clamping down on it, John Greenwood, chief economist at Invesco in London, told the Risk Derivatives Summit audience yesterday.
Risk Derivatives Summit : Transparency not a cure-all
Moves to increase transparency and simplicity in the derivatives market might have some benefit, but are certainly not the single remedy needed after the financial crisis, according to panellists at the Risk Derivatives Summit in London yesterday.
Basel changes could "kill off correlation trading”
Proposed changes to the Basel II Accord’s trading book regime, due in early July, will make correlation trading uneconomical unless a compromise can be found, say dealers.
Fannie Mae chief executive appointed to US Treasury
Herbert Allison, who until recently was president and chief executive of Fannie Mae, has joined the US Treasury as assistant secretary for financial stability.
CDS spreads tighten on European and US banks
The cost of credit protection fell on European and US banks in European trading today.
RH Donnelley LCDSs settle in line with analyst expectations
An auction to cash-settle loan credit default swaps (LCDSs) referencing North Carolina-based commercial search firm RH Donnelley produced a recovery rate of 78.125%. Auctions to cash-settle LCDSs on two of the firm's subsidiaries, Dex Media East and Dex…
Iosco recommends compulsory registration of hedge funds
Hedge funds and fund managers should be subject to mandatory registration and an international system of oversight should be established for the hedge fund industry, the International Organisation of Securities Commissions' (Iosco) Technical Committee…
Risk Derivatives Summit : EC backs multiple CCPs
Multiple central counterparties for clearing derivatives trades might be less efficient, but stability concerns make a single counterparty too risky to allow, a European Commission (EC) specialist said today.
CROs respond to Swedish stress tests
Chief risk officers have given muted support to the recent stress-testing exercise by Swedish regulator Finansinspektionen to assess whether the country's largest banks have enough capital to survive future stresses.
CDS spreads widen on Australian and Indian banks
The cost of credit protection rose on Australian and Indian banks in European trading today, while remaining steady on financials from the US and Europe.
CDS spreads widen on US and European banks
The cost of credit protection rose on US and European financials today.
Q&A: Osfi chief champions Canada's regulatory framework
Julie Dickson, superintendent at the Office of the Superintendent of Financial Institutions (Osfi) in Canada, talks exclusively to Risk about how Canada's regulatory framework has helped institutions weather the financial crisis, and shares her views on…