Foreign exchange
Spain reigns
BBVA's chief risk officer, José Sevilla Alverez , talks to Rob Davies
Expect the unexpected
Stress testing
Towards T+0 reconciliation
The Counterparty Risk Management Policy Group's third major policy statement appeared in early August - and it presents surprisingly radical demands, says David Rowe
Don't follow the herd
Quant funds
A balancing act
Off-Balance-Sheet Vehicles
Valuing hard-to-value assets
In this Class Notes article, Charles Smithson considers some of the lessons learned from the recent credit crisis. In particular, he reflects on the difficulties faced by many institutions in valuing illiquid structured finance instruments, and makes…
Breaking down
Correlation
Risk Australia Rankings 2008: A roller-coaster year
Market participants in Australia have faced a year of ups and downs in all asset classes. But a number of dealers - some facing problems of their own - have stood up to the task, with Deutsche Bank defending its position at the top of the pile
Claymore and Delta offer shipping exposure
Claymore and Delta have listed a new exchange-traded fund (ETF) on the Arca platform of the New York stock exchange which exposes investors to shipping equity. The fund is linked to the Delta Global Shipping Index, which reflects the performance of…
Deutsche launches Asian inflation index
Deutsche Bank in Singapore has launched the db Asian Inflation Proxy index, which is designed to hedge inflation in the Asia ex-Japan region, as measured by the International Monetary Fund’s (IMF) GDP PPP-weighted Asian inflation index. The index can be…
Actinver offers Mexican investors US financials
Mexican distributor Actinver is offering local investors Financial Rebound Callable Notes, providing exposure to a basket of US financial stocks.
Slowing economy hits inflation markets
Poor economic prospects and falling commodity prices have changed the face of inflation markets around the world, easing the shortages that constricted them earlier this year.
FDIC issues liquidity guidance and encourages contingency funding
Daily news headlines
SEC heads for IFRS acceptance by 2014
The US Securities and Exchange Commission (SEC) aims to bring international financial reporting standards (IFRS) into use in the US within the next six years.
Meagre $5bn profit for US commercial banks, says FDIC
Federally insured US banks posted total profits of just $5 billion for the second quarter of 2008, an 87% drop on the $31.8 billion earned over the same period in 2007 and the second-worst earnings results since 1991.
Banks' latest ARS settlement falls short
Merrill Lynch has agreed a $7 billion settlement with its auction rate securities (ARS) customers, but the deal leaves the larger purchasers uncovered, as did a similar settlement at Goldman Sachs.
Canadian ABCP restructuring faces last hurdle
Efforts to restructure C$32 billion ($30.6 billion) of Canadian asset-backed commercial paper (ABCP) moved closer to a resolution on August 18, when the Ontario Court of Appeal unanimously dismissed the claims of a group of corporate investors that…
Fannie and Freddie equity plunge continues as bailout looms
Speculation is mounting in the US that the Treasury will shortly have to give direct support to Fannie Mae and Freddie Mac, as the government-sponsored enterprises’ (GSEs) equity prices plunged to 17-year lows today.
Foreign banks face $475 billion subprime losses
Although banks such as UBS have reported massive subprime-related writedowns in the early stages of the mortgage crisis, European banks are not over-represented in the subprime market, according to research published by the US Federal Reserve.