Risk magazine
Merrill writedowns throw light on risk management
Merrill Lynch has released a warning on its third-quarter results. The bank said its mark-to-market losses on its collateralised debt obligation (CDO) and leveraged finance operations would be up to 50 cents a share.
LCDX index tranches trade today
CDS IndexCo, a consortium of banks, and London-based data provider Markit have launched tranches on the LCDX North America index of loan credit default swaps (LCDSs).
Risk Australia Rankings 2007: Deutsche Bank tops first-ever derivatives rankings
Deutsche Bank has topped Risk's first Australian rankings survey, with particularly strong showings in interest rate and credit.
SGAM seizes opportunity from subprime turmoil
Société Générale Asset Management (SGAM) has become the latest fund manager to set up a strategy aimed at reaping the benefits of valuation discrepancies caused by the fallout from the US subprime mortgage market.
HSBC CIBM creates European corporate liability group
HSBC Corporate, Investment Banking and Markets (CIBM) has established a European corporate liability solutions group, headed by Russell Schofield-Bezer.
Wachovia hires SocGen equity derivatives banker
Michael Collins has joined Wachovia Securities as head of its corporate equity derivatives origination team.
Fitch: crisis hit 31% of 2006 subprime RMBS
Fitch Ratings downgraded 31% of its 2006 US subprime residential mortgage-backed securities (RMBS) as a result of the US subprime crisis, the agency said today.
Deutsche signs record sharia collar trade
Deutsche Bank has closed the largest Islamic profit-rate collar to date, for Dubai Islamic Bank.
Merrill fires two executives after subprime crisis
Merrill Lynch has fired two executives in the wake of the subprime mortgage crisis, which could see the bank suffer significant losses.
CFTC: record levels of crime in energy markets
The past five years have seen unprecedented levels of misconduct in the US energy markets, according to the Commodity Futures Trading Commission, which regulates the sector.
Nazareth to leave SEC
Annette Nazareth, one of the commissioners of the US Securities and Exchange Commission, is to leave after nine years' service.
Moody’s reshuffles management after subprime criticism
Moody’s Investors Service has announced three senior management appointments as it faces criticism over its role in the US subprime crisis.
BarCap names head of corporate FX sales for Americas
Barclays Capital has appointed Ade Odunsi as head of corporate foreign exchange sales for the Americas, based in New York.
Financials first CPDOs to crumble
The spotlight is on the constant-proportion debt obligation (CPDO) market after widening credit spreads forced UBS to restructure several tranches of its Tyger financial CPDO, which is based on bespoke portfolios of credit default swaps.
Credit Suisse and Citi expect profit losses for Q3
Credit Suisse Group is the latest bank to warn of a third-quarter profit loss. It reported its investment banking and asset management divisions’ profits have been adversely affected by recent market events.
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