Central banks
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
Pimco in frame to run commercial paper purchase facility
The Federal Reserve Bank of New York has confirmed it is in talks with California-based bond fund Pimco to manage the government’s new commercial paper purchase facility (CPFF).
CME and Citadel plan CDS exchange
Chicago-based exchange operator CME Group and hedge fund management firm Citadel Investment Group are set to launch a fully integrated trading and clearing platform for credit default swaps (CDSs).
Rate cut not meant for financial markets, central banks say
Central banks around the world cut interest rates in the latest attempt to shore up the weakening economy today.
Minibond trustee in Singapore searches for new swap counterparty
Singapore investors, which bought Lehman Minibonds, have requested the trustee of the products to consider all proposals for a new swap counterparty to replace Lehman Brothers for all series of the Minibond programme. The request came after the trustee,…
G30: regulation struggling to keep pace with modern finance
Financial regulation in many countries has been unable to cope with the speed of change in the financial services industry over recent decades, according to a report released on October 6 by the Group of Thirty (G30).
Federal Reserve to buy commercial paper from US banks
The US Federal Reserve has launched a new facility to purchase commercial paper from approved issuers in a further effort to provide liquidity to stricken bank funding markets.
Fed to treble lending
The Federal Reserve increased its Term Auction Facility (TAF) auctions by $300 billion on Monday, and expects its lending to reach $900 billion by November; three times the amount of liquidity provision given to date.
IMF estimates crisis losses at $1.4 trillion
The International Monetary Fund (IMF) on October 7 increased its estimate of losses on US-originated housing loans and associated securitisation products to $1.4 trillion from $945 billion.
G-30 speaks out on structure of financial supervision
Daily news headlines
Bank of England extends eligible collateral for repo facility
The Bank of England (BoE) on Friday extended the range of collateral eligible for its weekly sterling three-month repo facility to include AAA-rated asset backed securities (ABSs) of corporate and consumer loans and highly rated asset-backed commercial…
Investec unveils fourth series
Investec Structured Products has launched its fourth series of plans comprising products within its accumulation, investment and income categories.