3.10.2010 |
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CFTC urges end to derivatives secrecy - Financial Times
A leading US financial regulator called for the prices of derivatives trades to be disclosed in the same way as stock prices, saying only large Wall Street banks benefited from the current lack of transparency
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3.10.2010 |
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CLOs trade in CDO-squared liquidation - Creditflux
All bonds apparently traded from this week’s big CDO-squared liquidation, structured credit traders say
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3.10.2010 |
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Tranche traders torn between 'perpetual index' and annual roll - Creditflux
A recent JP Morgan poll of CDX IG index correlation traders has elicited diverging responses on where dealers should focus efforts to improve liquidity, say sources
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3.10.2010 |
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Barney Frank wants $442.1bn from banks - Financial Times
And he wants it from these four: Bank of America, Wells Fargo, Chase and Citi.The chairman of the House Financial Services Committee wrote to the heads of the four banks on Monday,...
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3.10.2010 |
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Date set for Aiful CDS auction - Creditflux
The date for an auction to settle Aiful credit default swaps has been set as Thursday 25 March, according to Creditex’s website. Initial bidding will take place from 9.45am JST, with initial results at 10.30. Final results will be published after 2pm JST. The Isda committee ruled in December that…
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3.10.2010 |
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Rally back on despite mixed European picture - Creditflux
The rally in credit markets is continuing today, with strength in European sovereigns seeing the SovX Western Europe index dip below 70bp to 69.5bp
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3.10.2010 |
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Markit releases index roll timetable and initial changes - Creditflux
Markit has released a timetable for the forthcoming rolls of credit default swap indices later this month. iTraxx indices and CDX IG are due to roll on Monday 22 March, with CDX HY rolling a week later on 29 March. Dealer provisional lists for iTraxx indices and CDX IG will…
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3.10.2010 |
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Short end CDX curves should flatten, says JP Morgan - Creditflux
In a report published last week, JP Morgan notes that the three-to-five year curve on the North American CDX index is at least 20 basis points too steep based on historical trading patterns. Short-end curves have generally steepened amid the recent rally, but the bank believes that the steepening in…
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3.10.2010 |
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Senators to Seek Wider 'Volcker Rule' - Wall Street & Technology
Two Senate Democrats said they will propose placing new limits on proprietary trading by banks and nonbank financial firms, widening the 'Volcker rule' backed by the White House.
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3.10.2010 |
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Rabobank’s non-regulatory capital - Financial Times
Meet the new (more mysterious) hybrid capital on the block, says FT Alphaville. It comes courtesy of Dutch agri-lender Rabobank and it differs somewhat to the latest versions of the stuff,...
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3.10.2010 |
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Further reading - Financial Times
Elsewhere on Wednesday,- The mother of all carry trades – again?- More on that mutual fund spendathon.- Bears still reign in important places.- CDS in Europe: stop blaming the ref....
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3.10.2010 |
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Barclays eyes US bank deal - Financial Times
Barclays is considering buying a large US retail bank in a push to expand beyond its successful investment banking franchise. Antony Jenkins, the new head of Barclays’ retail banking activities,...
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3.10.2010 |
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Mortgage lending lifts Canada banks - Financial Times
Canada’s five big banks have reported robust first-quarter earnings driven by growth in mortgage lending and other domestic business. The five – Royal Bank of Canada, Toronto-Dominion,...
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3.10.2010 |
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China Mobile to Buy Bank Stake - Wall Street Journal
China Mobile said it agreed to buy a 20% stake in Shanghai Pudong Development Bank for $5.83 billion as the mobile operator seeks to expand into mobile payment services.
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3.10.2010 |
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Deal Talk Lifts Tullett Prebon - Wall Street Journal
Shares in U.K. interdealer broker Tullett Prebon jumped after the company said it is in early talks that could lead to a takeover bid.
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3.10.2010 |
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The FSA says now is not the time for (bank) bondage - Financial Times
Here’s something we missed on Monday: the FSA’s liquidity bondage for banks is no longer — or at least, it’s not for a while.As the UK financial regulator announced...
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3.10.2010 |
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Rabobank’s new, non-regulatory capital - Financial Times
Contingent convertibles? Boring!Mutual ordinary deferred shares? Über-boring!Meet the new, more mysterious, hybrid capital. Instead of converting into equity when a certain...
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3.10.2010 |
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US banks told to hold funds - Financial Times
US regulators led?by the New York Fed and the Treasury have told banks not to increase dividends or buy back shares until the economic and legislative picture becomes clearer –...
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3.10.2010 |
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Citi to Bolster Private Bank Force - Wall Street Journal
Citigroup plans to roughly double the size of its private banker force in North America over the next several years.
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3.10.2010 |
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Short View: Credit market - Financial Times
Truly low-grade credit looks more expensive than normally, while higher-grade credit is a relative bargain, but the point is that playing the credit market is once more a painstaking job of predicting defaults
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3.9.2010 |
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Gensler Calls for New CDS Rules - Wall Street Journal
The CFTC chairman said the U.S. could adopt new regulations for credit-default swaps, the derivative often blamed for the near-collapse of AIG during the financial crisis.
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3.9.2010 |
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BofA Ends Overdraft Fees on Debit Buys - Wall Street Journal
Bank of America plans to announce that it is eliminating $35 overdraft fees on debit-card purchases as the bank tries to stay ahead of a sweeping round of regulations.
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3.9.2010 |
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CME agrees Bolsa Mexicana tie-up - Financial Times
CME Group, the largest US futures exchange, deepened ties with Central and Latin American derivatives markets on Monday by agreeing a partnership with Bolsa Mexicana de Valores,...
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3.9.2010 |
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Nomura sees departures - Financial Times
A management reshuffle at Nomura, announced on Monday, has prompted a high-profile resignation at the Japanese bank and speculation that others will follow. Siggi Thorkelsson,...
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3.9.2010 |
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FDIC seeks new levy on big banks - Financial Times
Sheila Bair, chairman of the Federal Deposit Insurance Corporation, on Monday said that large financial institutions should pay an upfront levy for the costs of their failure,...
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3.9.2010 |
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UBS recommends reg-squeeze European credit trade - Creditflux
UBS strategists yesterday suggested putting on a long European sovereign and short investment grade corporate trade yesterday. The bank recommended selling protection on SovX at 67.75bp and buying iTraxx main in the same size at 74bp. In a research note sent to clients, UBS said this slightly negative carry trade…
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3.9.2010 |
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Race track owner files for bankruptcy - Creditflux
Indiana-based gaming company Centaur filed for bankruptcy on Sunday, according to a company announcement. The chapter 11 filing in Delaware, where the privately owned company lists its debts as being more than $500 million, follows an October restructuring which resulted in two of its operating companies filing for bankruptcy. Centaur’s…
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3.9.2010 |
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Deconstructing the ‘buy’ case on UK banks - Financial Times
If there is one thing UK banks agree on at the moment it is this: impairment charges have peaked. Barclays, Lloyds Banking Group, HSBC and RBS all said as much in their respective...
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3.9.2010 |
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EU Leaders Call for CDS Supervision - Wall Street Journal
German Chancellor Merkel called for fast action against credit-default swaps, as ECB governor Christian Noyer said they should be traded through clearing houses under the control of a supervisor.
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3.9.2010 |
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Post-Crisis, Banks Paying Close Attention to Vendor Risk When Choosing Tech Partners - Wall Street & Technology
Post-crisis, Wall Street firms are paying closer attention than ever before to vendor risk when choosing their technology partners.
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3.9.2010 |
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‘CDS may be more of an accurate reflection of pure default risk going forward’ - Financial Times
Deutsche Bank has published the 12th edition of its annual ‘Default Study’, and while it’s worth a read in its entirety, we found the following passage most intriguing....
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3.9.2010 |
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Sen Corker Says Sides Nearing on Consumer Watchdog - Wall Street & Technology
Members of the Senate Banking Committee drafting financial reform have "about reached a balance" on the controversial consumer watchdog proposal, Republican Senator Bob Corker said, indicating a bipartisan deal could be reached soon.
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3.9.2010 |
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Repeat after me: CDS are not insurance - Financial Times
Alright, hold it.In the midst of the ongoing and increasingly heated debate about credit default swaps, be they naked, sovereign or Sharia compliant, one fundamental fact has been overlooked:...
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3.9.2010 |
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Riddle me this: what US retail bank is Barclays eyeing? - Financial Times
Bit of a (speculative) scoop from the Wall Street Journal, suggesting that Barclays “is on the prowl for another major acquisition in the US”.More from the WSJ story,...
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3.9.2010 |
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Bullet LCDS should trade up to 20% tighter, calculates JP Morgan - Creditflux
In a report published last week, JP Morgan calculates that the new single name LCDS contract, which is due to launch in April, should price 10-20% tighter than existing cancellable contracts. The new “bullet” loan-only credit default swaps differ from the existing products in that they are not cancelled when…
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