Foreign exchange
Remaining investment firms become Fed-regulated banks
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Goldman and Morgan become bank holding companies
Goldman Sachs and Morgan Stanley have applied to the US Federal Reserve to become bank holding companies, in response to the crisis that has seen the bankruptcy of Lehman Brothers and the acquisition of Merrill Lynch by Bank of America.
Goldman and Morgan become bank holding companies
Goldman Sachs and Morgan Stanley have applied to the US Federal Reserve to become bank holding companies, in response to the crisis that has seen the bankruptcy of Lehman Brothers and the acquisition of Merrill Lynch by Bank of America.
Imarex to launch electronic Time Charter Equivalent contracts
Norwegian freight derivatives exchange Imarex will introduce the first electronic Time Charter Equivalent (TCE) contracts in October, the company has announced.
CDS spreads continue to tighten
Credit default swap (CDS) spreads on financial institutions had tightened further by close of play on September 19, as market confidence continued to rise after large injections of cash from central banks
Australia extends shorting ban to covered short sales
Sydney-based regulator the Australian Securities and Investments Commission (Asic) today extended its ban on naked short-selling – introduced last week – to covered short sales of all listed stocks.
Pressure eases on interbank lending
Strain on the interbank lending markets is easing as large infusions of liquidity start to take effect and market confidence improves.
The changing face of the US regulatory landscape
Editor's blog
Historic deal to remove toxic mortgage assets close to approval in the US
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Barclays to launch FX trend index
Barclays Capital will next week launch the latest in its range of investable foreign exchange indexes, the Barclays Adaptive FX Trend Index. This follows the Intelligent Carry Index (ICI) the bank launched in 2006 and the FX Volatility Indices it…
Paulson announces new Resolution Trust Corporation
US Treasury secretary Henry Paulson has confirmed he is working with the Federal Reserve Board and the Securities and Exchange Commission to get legislation through the US Congress to remove illiquid mortgage assets from the balance sheets of stricken…
Barclays Capital expected to take over Lehman indexes
Barclays Capital looks set to acquire Lehman Brothers’ suite of indexes, widely used as a benchmark in the fixed-income market.
Naked short-selling banned in Australia
The Australian Securities and Investments Commission (Asic), the country’s main financial watchdog, today effectively banned naked short-selling – selling securities without borrowing them first – from September 22 until further notice.
Credit crunch is a risk management cultural failure
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UK issues banking reform report
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HK SFC & MAS warn investors on Minibond redemption
The Hong Kong Securities and Futures Commission (SFC), in a statement issued at the end of Asian trading today, told investors owning Lehman Minibond paper that they could receive substantially less than their initial investment and that the separately…
BNP releases first funds in UK
BNP Paribas has launched its first two structured OEIC (open-ended investment companies) funds, the Stabiliser and Stabiliser Plus, as the first in its Privalto range for UK independent financial advisors (IFA).
Central banks reveal co-ordinated response to liquidity crisis
The world's major central banks today unveiled plans for a $180 billion injection of liquidity to restore stability to global financial markets.
Linn Energy terminates $68m of commodity contracts with Lehman
US oil and gas company Linn Energy has terminated all of its commodity derivative contracts with Lehman Brothers, and has replicated and re-hedged each of the contracts at identical strike prices with an unnamed counterparty, Linn Energy announced.
Fed props up AIG with $85 billion loan
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US government takes control of AIG
The US Federal Reserve Board has agreed to lend struggling insurance company American International Group (AIG) up to $85 billion, in return for a 79.9% equity stake in the firm.
Fed asks Treasury for supplementary funding
The US Treasury department is creating a temporary supplementary funding programme at the request of the Federal Reserve. The initiative has been devised to manage the balance-sheet impact of the Fed’s lending and liquidity operations, and ensure it can…
McCreevy speaks on cross-border supervision
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US agencies address goodwill deductions from Tier I capital
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