Central banks
Minibond swap agreements terminated in Singapore
HSBC Institutional Trust Services (Singapore), the trustee for the Lehman Minibond programme, has terminated the swaps in the product for series 1 to 8 of the programme, which removes the risk of credit events in the underlying securities and helps to…
Markets indifferent to Amex conversion as auto-maker bail-out looms
Credit spreads on American Express debt narrowed marginally yesterday while equity prices hit a new low as US markets were largely unmoved by news of the credit card company’s conversion into a bank holding company.
Quant Congress Europe: Regulatory focus to switch to leverage
At the keynote address at the European Quant Congress in London today, Peter Praet, executive director in charge of financial stability at the National Bank of Belgium, said that the Basel II regulatory framework will be revised to look more closely at…
Arc unveils latest range of core products
Arc Capital and Income has launched the latest offering of its three core products, comprising the Bricks and Mortar Plan two, the Bull and Bear Enhanced Investment Plan five and the Fixed Income Plan nine.
November target for CDS central counterparty
Dealers have pledged to the Federal Reserve Bank of New York to begin using a central counterparty for clearing credit derivatives by the end of November.
Investors' interest intensifies in hedge funds as countries compete for business
With vast sums looking for attractive investment opportunities, the Middle East is ripe for hedge fund development. While there are significant challenges still to overcome, liberalisation and the development of viable financial service centres are…
High five for distressed investors
There is a celebratory mood amongst distressed debt investors. Having spent several years scratching around for opportunities in a raging bull market, their cup now runneth over. We profile five leading funds in the distressed arena
Lawmakers take aim at CDS market
Regulators have been threatening the credit derivatives market with draconian new legislation in a bid to curb practices that supposedly exacerbated the current turmoil. But the lawmakers' belligerent comments are somewhat akin to closing the windows…
Joyce Chang
The head of emerging markets research at JPMorgan talks to Dalia Fahmy about how the sector is adapting to the upheaval in the the global markets
Rescue remedy
Governments and central banks have finally acted to attempt to stem the crisis that engulfed the world's financial markets. But is their response too little too late? Laurence Neville finds out
Crunch time
Corporate credit is likely to suffer while banks repair their balance sheets
The great liquidity illusion ... and how regulators can make sure it never happens again
The root cause of the recent credit crisis was a misplaced belief that liquidity in the global financial markets was abundant, argues Anastasia Nesvetailova. This misconception enabled a localised crisis in the US subprime mortgage market to leach into…
Some of life's key lessons
Sponsored Roundtable
Mastering mismatches
Insurance
South Korea moves to shore up fragile banking sector
Government drive to guarantee $100bn of bank debt and $30bn swap facility set up
Aging tigers
Pensions
Isda applauds $25 trillion reductions in CDS notionals
Daily news headlines
DTCC closes out over $500 billion of Lehman exposure
The Depository Trust & Clearing Corporation (DTCC), which provides post-trade clearing and settlement services in the US capital markets, has completed the largest close out in its history, clearing over $500 billion of market participants’ exposure to…
Ice picks off ClearCorp
Atlanta-based Intercontinental Exchange (Ice) is to take over Chicago-based clearing house The Clearing Corporation (ClearCorp) as part of an effort to establish itself in the credit default swap (CDS) market.
IMF and Fed plan bailouts for emerging markets
The International Monetary Fund has agreed to step up its short-term lending programme to emerging market nations in order to ward off the spreading debt crisis.