Foreign exchange
'Technical' factors drive banks back to profit
Major US and European banks are predicting profits for the first quarter of 2009 - but analysts caution that the apparent upturn has more to do with technical factors than a real recovery in performance.
Suncor bids for Petro-Canada
Suncor has announced plans to boost its oil sands portfolio through a merger with Petro-Canada that will see the combined entity operate under the Suncor name.
Iosco releases recommendations for hedge fund supervision
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IndyMac losses put more strain on FDIC funds
Yesterday's sale of failed California mortgage lender IndyMac has left the US Federal Deposit Insurance Corporation (FDIC) with a $10.7 billion bill - weakening its reserves further even as the list of failed banks requiring support continues to lengthen.
FSA recommends adding remuneration guidelines to its Handbook
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US Wrap: Barclays continues reverse convertible momentum
Issuance surged in the US market yesterday as Barclays launched 22 reverse convertible notes, adding to the eight it launched yesterday. The new products represent a turnaround for the market, with total issuance for the week now at 55, already double…
Iosco joins call for offshore crackdown
The International Organisation of Securities Commissions (Iosco) has joined calls for new capital rules to enforce transparency on offshore financial centres.
CME launches OTC grain swaps through ClearPort
The Commodity Futures Trading Commission (CFTC) has given regulatory approval for the CME to clear corn basis swaps and calendar swaps for corn, wheat and soybeans.
Deutsche Bank takes stake in iron ore brokerage
Deutsche Bank has taken an equity stake of undisclosed size in newly-established London Dry Bulk (LDB), a specialist physical and financial iron ore brokerage division of London Commodity Brokers.
LCH.Clearnet to launch OTC clearing service for spot emissions
LCH.Clearnet has announced intentions to launch a clearing service for UK participants in the spot market for carbon credits.
Turner report published
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Cebs stresses simplicity and communication in report on liquidity buffers
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UBS names new Asia heads as Park and Pang depart
UBS has announced a series of appointments to the most senior roles in its equity derivatives business in Asia. The changes, which were announced this morning in Hong Kong coincide with the departure of Min Park, managing director, head of Equity Risk…
US Wrap: Barclays and ABN pile into reverse convertibles
Barclays Bank and ABN Amro bombarded the US market with reverse convertible notes yesterday, launching 20 of the products between them. It was ABN's first appearance of the week, and its first significant swathe of issuance since mid-February. It…
FSA plans new capital formula for banks
The UK Financial Services Authority (FSA)'s chairman Adair Turner has outlined proposed new capital rules for UK banks, which would see minimum capital levels determined based on balance sheet growth or full-cycle loan book risk.
Fed increases security purchase plans
In an effort to resuscitate private credit markets, the Federal Open Markets Committee stated today that it would purchase up to $300 billion in long-term US Treasury securities over the next six months.
US Wrap: Market snaps into action to kickstart week
The US market sprang to life yesterday, offering 10 new products, the majority of which were reverse convertibles, with Barclays Bank using the structure to give investors exposure to three different commodities: gold, silver and oil, each represented by…
China publishes new derivatives master agreement
The Chinese National Association of Financial Market Institutional Investors (Nafmii), a trade association set up by the People's Bank of China (PBOC), has published a new master agreement for trading, settlement and netting of onshore derivatives traded…
Fed delays capital requirements rules for bank holding companies
The Federal Reserve has postponed new capital requirements ratios for bank holding companies for two years, in an effort to allow banks to boost capital levels amid continued weakness in the financial markets.
G-20 ministers agree expansion of international financial organisations
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G20 calls for stronger IMF
A strengthened and expanded International Monetary Fund (IMF) is at the heart of the plan to soften the recession and repair the global financial system announced by G20 members over the weekend.
Spectron brokers first California carbon option
Spectron Environmental, the environmental products division of commodities brokerage Spectron, has brokered the first cleared Californian carbon option.
CME’s CDS platform approved
The Chicago Mercantile Exchange Group (CME) received the green light from the Securities and Exchange Commission (SEC) on March 13 to clear credit default swaps (CDSs), but now faces the hard task of getting customers to sign up to its platform.
IIF submits policy letter to G-20; launches MMG
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