Foreign exchange
Lehman’s CDS mess
Editor's blog
Cebs: Bank risk disclosures could be better
Daily news headlines
Quantum goes for gold and energy
Quantum Asset Management has released three plans linked to commodities including gold and oil, in the belief that long-term investors should be increasing their exposure to energy commodities and gold in particular. The five and a half-year Protected…
UK Banks await clarification on £250 billion unsecured debt guarantee
UK banks, which are planning to participate in the government’s rescue plan for financial institutions, are awaiting clarification on how the temporary underwriting of the issuance of new unsecured debt instruments will affect structured products. The…
MAS publishes timeline for Minibond resolution process
The Monetary Authority of Singapore (MAS) has published a timeline for the resolution process for investors who bought Lehman Minibonds. The trustee (HSBC Institutional Trust Services Singapore), which is in charge of overseeing the Minibond products,…
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.
David Peniket
David Peniket, president and COO of ICE Futures Europe, talks to Roderick Bruce about making bold decisions
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
Funds warn against stifling trade
Recent moves to increase regulation in oil markets are stifling trade and won't bring down prices, warn fund managers
Turkey's political pipelines
Turkey's strategic position at the crossroads of East and West has put it at the centre of a geopolitical tug-of-war, with energy supply a key driver. Robert Amsterdam examines the energy policies being brought to bear in the region
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
"Several weeks" before first asset purchases, says Paulson
It will be several weeks before the US Treasury will make its first purchase under the $700 billion Emergency Economic Stabilisation Act (EESA), according to US Treasury secretary Henry Paulson.
Fed to lend additional $37.8 billion to AIG
The US Federal Reserve has stepped in again to help troubled insurance company American International Group (AIG), authorising the Federal Reserve Bank of New York to borrow up to $37.8 billion in investment-grade fixed income securities from AIG in…
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).
Bank of America and RBC in ARS settlement
Bank of America and Royal Bank of Canada (RBC) yesterday agreed to buy back up to $5.5 billion of auction rate securities (ARS) they issued, becoming the latest banks to reach an agreement in principle with the US Securities and Exchange Commission (SEC).
Russian liquidity boost on hold
A proposed $37 billion (950 billion RUB) liquidity injection for Russia’s biggest banks stalled in parliament yesterday, adding to Moscow’s financial troubles.
US may buy shares in troubled banks, Paulson says
US treasury secretary Henry Paulson hinted yesterday the US government could follow the UK's lead and take equity stakes in undercapitalised US banks, as well as intervening directly in the securities markets.
UK announces £500 billion bail-out plan
Daily news headlines
Moscow launches Brent contract
Moscow’s international exchange, the Russian Trading System (RTS-FORTS), has today introduced a Brent crude oil futures contract, which will be denominated in US dollars.