Risk magazine
Kashkari details Tarp oversight plans
Assistant secretary for financial stability Neel Kashkari defended the US Treasury against accusations of poor oversight of the $700 billion Troubled Assets Relief (Tarp) programme in front of the House of Representatives' financial services committee…
CDSs on European financials tighten
The cost of credit protection on financial institutions fell in early trading this morning, while a number of industrial names traded wider.
Rabobank appoints new Asia-Pacific head of GFM
Rabobank International has promoted Martijn Nijziel as Asia-Pacific head of global financial markets (GFM) in Hong Kong from his previous position in Tokyo as Japan head of GFM.
China set to provide funding to foreign banks
Chinese authorities may introduce their own version of the Federal Reserve's term auction facility (TAF) to help foreign banks get through their toughest test yet in dealing with China's still-developing interbank market.
BIS: exchange-traded derivatives volumes decline
Trading volumes at international derivatives exchanges dropped in the third quarter, according to the Bank for International Settlements (BIS).
Auction sets 52.5% recovery on Masonite LCDSs
A final settlement value of 52.5% was set for loan credit default swap (LCDS) trades referencing first-lien loans to Ontario-based door manufacturer Masonite, during a cash-settlement auction held today.
Deutsche Bank structured equity sales head departs amid cuts
Kim Gayer has left his London-based position as managing director and global head of structured equity sales at Deutsche Bank. The bank declined to comment on his departure.
Griffith appointed to third term at CBOE
The board of directors of the Chicago Board Options Exchange (CBOE) has re-appointed Bradley Griffith as vice-chairman of the exchange for a third consecutive one-year term in 2009.
Interbank lending benefits from rates cuts
The sterling interbank borrowing rate has dropped significantly after the Bank of England's (BoE) move to cut interest rates to their lowest levels since 1951 on Thursday.
FSA to order banks to stock up on Treasuries
New liquidity rules proposed by the UK Financial Services Authority (FSA) will compel banks and lenders to keep a 'liquid assets buffer' of short-term government bonds, which will mean a significant increase in most banks' holdings.
NY approval brings Ice CDS clearing platform a step closer
The Intercontinental Exchange (Ice) has won permission to create a New York-chartered trust company, the next step towards the creation of its central counterparty (CCP) facility for credit default swaps (CDS).
SEC votes to tighten rules on rating agencies
The US Securities and Exchange Commission (SEC) voted yesterday for new rules governing rating agencies, aimed at reducing conflicts of interest in the ratings process.
Credit Suisse wields axe after Sfr3 billion loss
Credit Suisse is planning to cut 5,300 jobs following a Sfr3 billion ($2.5 billion) net loss at the firm during October and November this year. Two-thirds are expected to be in investment banking - the primary source of the bank's losses.
AIG terminates $46.1 billion of credit-default swaps (CDS)
AIG announced on Tuesday that an off balance sheet vehicle created by the Federal Reserve Bank of New York (FRBNY) has purchased $46.1 billion of its toxic collaterised debt obligations (CDOs).
Treasury called to account for Tarp
The US Treasury has failed to provide oversight of vital parts of its $700 billion Troubled Assets Relief Program (Tarp), according to a report issued today by the US Government Accountability Office (GAO).
CDSs on G-10 sovereigns hit record high
The cost of credit protection on several Group of 10 countries reached record levels in early trading this morning.
Banks cut staff in Europe and US
More European and US banks joined the growing list of institutions to cut staff in the wake of the financial crisis.
Australian interest rate cut 100bp to 4.25%
The Reserve Bank of Australia (RBA) reduced its overnight interest rate today by 100bp to 4.25% - the lowest level since records began in 1990.
Five new partners for Arch Financial Products
London-based asset-managers, Arch Financial Products, last week appointed five new partners to expand its Middle Eastern and Asian operations.
Exotic derivatives head steps down at Citi
Alberto Cherubini, the former London-based head of exotic equity derivatives trading for Europe at Citi, has taken voluntary redundancy in order to pursue outside interests.
China NDFs weaken sharply on devaluation jitters
The price of Chinese renminbi non-deliverable forwards (NDFs) spiked sharply against the dollar in active trading this week, following a cut in interest rates by the People's Bank of China (PBOC) last week and fears that China would be unable to avoid…
Bank of Japan steps up support for corporate borrowing
The Bank of Japan will accept BBB-rated corporate debt as collateral for loans for the first time, in an effort to aid companies struggling for financing.
Sovereign CDSs hit all time highs
The cost of credit protection on a number of eurozone sovereigns reached record levels this morning, while financial institutions suffered from declining market sentiment.