Foreign exchange
Budgets hit internal and external systems: encourage holistic approaches
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Q4 loss of Sfr8.1 billion for UBS
Swiss banking giant UBS reported a fourth quarter net loss of Sfr8.1 billion ($7 billion), bringing its full-year net losses to Sfr19.7 billion. The bank also revealed $16.4 billion of illiquid credit assets had been transferred to the Swiss National…
Questions remain over $1trn toxic asset purchase plan
New financial stability initiatives will see US banks required to implement stress tests to strengthen their balance sheets and the establishment of a pseudo "bad bank" fund that could buy up to $1 trillion of illiquid assets off of struggling financial…
FSA sets out scope of Turner Review on bank regulation
Capital adequacy and liquidity regulation are in need of urgent review as a result of the financial crisis, according to the UK's Financial Services Authority (FSA).
UK FSA proposes permanent short-selling disclosure
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FSA releases Financial Risk Outlook
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Dow Jones Stoxx 600 index to underlie Deutsche ETF
Deutsche Bank AG has licensed the Dow Jones Stoxx 600 index to underlie its latest exchange-traded fund (ETF). The index comprises a broad range of large, mid and small-cap companies across 18 European countries, consisting of Austria, Belgium, Denmark,…
Regulatory risk hits US emissions markets
Worrying regulatory indecision in the US SO2 and NOx markets has angered traders and does not bode well for the implementation of a federal cap and trade scheme, finds Roderick Bruce
Renewed scrutiny for WTI benchmark
The effectiveness of the WTI price benchmark in reflecting the value of global crude oil has once again been brought into question, finds Pauline McCallion
UK needs more transparency around shorting, FSA says
The UK Financial Services Authority today ruled out any permanent restrictions on short-selling stocks today, but said that it planned to force public disclosure of all short positions.
"$78 billion Tarp windfall" for banks
The US Treasury paid banks $78 billion too much for bank stock and warrants under the Troubled Asset Relief Programme (Tarp), according to the programme's head of oversight.
Canadian ABCP restructuring finally complete
After 17 months of delays, the saga surrounding the restructuring of C$32 billion ($26.1 billion) of distressed Canadian non-bank asset-backed commercial paper (ABCP) has finally drawn to a close.
SNB issues US dollar debt to fund UBS's bad bank
The Swiss National Bank (SNB) will auction its own debt certificates in US dollars to finance its loan to the SNB Stabfund.
CME launches weather contracts for Australia
CME Group is expanding its suite of temperature-based weather derivatives products to include Australian cities Melbourne, Sydney and Brisbane.
Swiss Re seeks capital injection after securitisation hit
Zurich-based reinsurer Swiss Re suffered writedowns of SFr 6 billion ($5.1 billion) linked to its legacy securitisation portfolio, according to its preliminary report for 2008.
Deutsche hit by €1.7 billion equity derivatives losses in Q4
Deutsche Bank confirmed a net loss of €4.8 billion for the fourth quarter of 2008, bringing total losses for the year to €3.9 billion, compared with a net income of €6.5 billion in 2007. Year-on-year net revenues for the quarter fell from €7.3 billion in…
Auction sets final settlement values on Sanitec LCDS
An auction run by data vendor Markit and broker Creditex has determined final settlement values for credit derivatives trades referencing Sanitec first- and second-lien loans.
Operational risk experts ponder future of Basel II
The ongoing financial crisis has led risk professionals to question whether the Basel II framework needs to be modified to improve firms' ability to assess and manage risk. And while the general consensus is that revisions are needed, questions remain as…
European CDS regulation 'inevitable' - EC official
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