Risk magazine
Shorting still weak after UK ban ends
There has been little evidence of increased short selling activity on UK financial stocks since the Financial Services Authority (FSA) lifted its ban on the practice on January 16.
Fiscal strain poses challenges for monolines
Continuing fiscal strain has heightened concerns over the fate of the new municipal monoline bond insurers.
Mixed morning in CDS market
Market sentiment was varied in European trading this morning across industry sectors, including financials.
New Islamic head at Deutsche
Deutsche Bank's head of Islamic finance and head of structuring for the Middle East and North Africa (MENA), Geert Bossuyt, has left the bank, along with Ricardo Honegger, head of global markets, MENA.
Derivatives trades rise on falling rouble
Forex derivatives volumes have soared in Russia as investors react to the plunging value of the rouble.
US agriculture committee plans to ban naked CDSs
The US House of Representatives Committee on Agriculture has published a draft bill seeking to limit the holding of credit default swap (CDS) contracts to market participants owning the bonds of the reference entity in question.
CDSs widen on European auto industry
The cost of credit protection on European auto manufacturers rose in early European trading today, reversing gains made yesterday, while Japanese corporates continued to suffer.
FOMC holds rates as spectre of quantitative easing looms
The Federal Open Market Committee (FOMC) has kept its target for US interest rates at between 0-25 basis points as the Federal Reserve reiterated its commitment to use new tools to fight the worsening economic downturn.
Wells Fargo posts $2.55 billion loss in Q4
Hampered by its move to bolster credit loss reserves, Wells Fargo saw a $2.55 billion loss in the fourth quarter of 2008.
CDSs tighten on European auto industry
The cost of credit protection on European auto manufacturers fell this morning, while rising to record highs on Japanese corporates.
Nomura downgraded after $3.8 billion Q3 loss
Nomura Holdings, Japan's leading brokerage, has announced a third quarter loss of ¥342.9 billion ($3.8 billion). The financial services company said the losses were driven by a series of "one-off" losses from exposure to Madoff funds, Icelandic banks,…
Quantitative tests pointed to Madoff fraud, says Riskdata
Sophisticated investors expressed shock at the alleged $50 billion fraud by New York-based broker and fund manager Bernard Madoff, yet even relatively simple quantitative analysis should have raised red flags, according to research by London-based…
Babson Capital Management expands new business arm
Massachusetts-headquartered Babson Capital Management has expanded its global business development arm, with the additions of Paul Gehrig and David Acampora.
Stark to head new institutional group at BNP
BNP Paribas has formed a new institutional relationship management group and appointed Talbot Stark to lead it.
New York Fed appoints Dudley chief executive
The Federal Reserve Bank of New York today named William Dudley as its president and chief executive.
European financials fare better in CDS market
The cost of credit protection fell on European financials and Spanish commodity players in this morning's trading.
Barclays Capital expands executive committee
Barclays Capital has added eight managing directors to its executive committee, after completing the integration of Lehman Brothers' US investment banking and capital market businesses.
Hypo Real Estate names Better CRO
Munich-based property financing firm Hypo Real Estate has named Manuela Better as its new chief risk officer (CRO), effective February 1.
ING CEO and 7,000 workers fall victim to €3.3 billion losses
After losing an estimated €3.3 billion in the last quarter of 2008, ING will lay off 7,000 employees, along with chief executive Michel Tilmant.
Mixed market sentiment for financials
The cost of credit protection fell on European financials and rose on Middle Eastern banks in this morning's trading.
Inflation-linked bonds see possible recovery
After months of poor trading, linked to the banking crisis and sagging commodities prices, breakeven rates on US Treasury inflation-protected securities (Tips) have started to rise from their November lows, suggesting investor interest is returning to…
Freight derivatives market shifts further towards clearing
Fears of counterparty credit risk have led to a sharp migration towards clearing in the freight derivatives market over the past four months. The ratio of cleared forward freight agreement (FFA) trades to non-cleared over-the-counter trades in the last…
Clearing single-name CDSs may prove uneconomical
High margin requirements may make central clearing of single-name credit default swaps (CDS) impossibly expensive, according to one clearing specialist.