Central banks
Bank of England calls for systemic reform
Daily news headlines
Congress: US needs regulatory overhaul
Daily news headlines
Congress: US needs regulatory overhaul
At a US congressional hearing of the committee of oversight and government reform on October 23, speakers called for far-reaching regulatory reforms. These included demands for greater scrutiny of derivatives, increased capital charges on securitised…
Fed promises $540 billion boost for money markets
In an effort to provide liquidity to US money market investors, the Federal Reserve has created a $540 billion fund, the Money Market Investor Funding Facility (MMIFF).
CFO replaced in compensation probe at AIG
AIG, the US insurance giant, has appointed David Herzog executive vice president and chief financial officer (CFO), replacing the acting CFO, Steven Bensinger, who will leave the company. The announcement followed a letter from the New York attorney…
Fed issues compliance risk management guidance for BHCs
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Q & A: CESR chairman Eddy Wymeersch
Eddy Wymeersch, chairman of the Committee of European Securities Regulators (CESR), talks to Risk about the effects the financial crisis will have on regulators and central banks.
Banks move towards clearing for FX, interest rate and equity
A large part of the over-the-counter derivatives market will shift towards central clearing houses by next year, as the collapse of Lehman Brothers on September 15 forces banks to reassess counterparty risk posed by other dealers.
FSF reports on resilience for institutions and markets
Daily news headlines
Treasury to take $125bn equity in nine US banks, says Paulson
The US Treasury will give banks and thrifts up to $250 billion as part of a series of measures designed to boost public confidence in financial institutions and restart immobile interbank lending markets.
Bank of Japan joins money market rescue
The Bank of Japan has joined other central banks in offering unlimited dollar loans in order to restore liquidity to the interbank lending market.
G-7 plan of action
Daily news headlines
FSF releases update on April recommendations
The Financial Stability Forum (FSF) – - on October 10 released a follow-up to its April white paper, Enhancing Market and Institutional Resilience.
Central banks promise unlimited dollar lending
Three central banks - the Bank of England, the European Central Bank and the Swiss National Bank - will offer unlimited short-term US dollar lending from Wednesday, in the latest attempt to improve interbank liquidity.
NDFA delivers Fixed Income and Growth Kick Out Plans
NDFA has launched its Fixed Income Plan September 08, which draws on the tax efficiencies for dividend income from non-UK shares. This effectively enables basic rate taxpayers to receive non-UK dividends tax-free and higher rate taxpayers have rates…
Fed discusses CDS clearing house options
The Federal Reserve Bank of New York is today in discussions with interested parties over the establishment of a central clearing house for credit default swaps (CDSs).
IMF cuts growth forecasts as outlook turns gloomy
Continuing counterparty risk will slow down the world's recovery from the financial crisis, the International Monetary Fund warned in its latest World Economic Outlook.
Business as usual for Merrill as BofA eyes prize
Merrill Lynch may have made mistakes in the credit market, but its commodity franchise is a real prize for its prospective owners, finds Energy Risk
Safe to come out?
As energy traders take stock after the unprecedented market turmoil of September, the Energy Risk team asks a range of key players what effects they expect the investment banking crisis to have on commodities trading and risk management
ETRM evolution
As energy trading and risk management systems become increasingly sophisticated, Rana Basu of TradeCapture looks at what users need to consider as they progress from implementing and using the most basic to the most complex systems