Structured products
FSA to open securitised derivatives to retail sector
The UK's financial watchdog, Financial Services Authority (FSA), plans to allow retail investors to invest directly in securitised derivatives for the first time by initiating a flexible listing regime.
SuperDerivatives adds barrier options for FX
Online FX options pricing vendor SuperDerivatives has added European-style knock-out and knock-in options to its pricing system.
Tremont, RiskMetrics to improve hedge fund risk reporting
Tremont Advisers, the global provider of hedge fund investment management services, has established a joint venture with RiskMetrics, which provides financial analytics, benchmark risk measurement and wealth management tools. The two companies are…
Argentina debt swap declared a 'default'
Attempts by Argentina's economy minister Domingo Cavallo to change the structure of $132 billion of his country's debt, has received a damaging response from international credit rating agency Fitch. Fitch stated that the move constitutes "a distressed…
Cessation of 30-year Treasury bonds raises dealer fears
The decision last week by the US Treasury to stop issuing 30-year bonds caused a significant amount of activity in the markets, as traders sought to adjust to the surprise news. Spreads in 30-year US dollar interest rate swaps widened by 12 basis points…
Unresolved Basel II issues include total capital and economic impact, says UK central banker
OXFORD, ENGLAND - The question of what should be the appropriate overall level of protective capital in the world’s banking system remains one of the unresolved issues of the Basel II banking accord, said deputy Bank of England governor David Clementi…
Basel II would mean banks less able to deal with NY attacks, US Senate told
WASHINGTON - The operational risk capital charge proposed by global banking regulators would create a "perverse incentive" against banks taking measures to cope with operational hazards such as the September 11 attacks in New York, the US Senate’s…
Losses and lawsuits
LOSS DATABASE
Basle II would mean banks less able to deal with NY attacks, US Senate told
WORLD TRADE CENTER AFTERMATH
Over-concentration of services risks raised by September 11 -- Depository Trust chief
WORLD TRADE CENTER AFTERMATH
New York attacks seen as boosting prospects for catastrophe bonds
WORLD TRADE CENTER AFTERMATH
Technology and flexibility the key to banks’ response to NY attacks, says Greenspan
WORLD TRADE CENTER AFTERMATH
S&P unveils new ratings model
International rating agency Standard & Poor's is to introduce a new partial guarantee model to help companies seeking to upgrade their credit ratings. The model marks a move away from the weak-link rating approach currently being used, where corporations…
S&P unveils new ratings model
International rating agency Standard & Poor's is to introduce a new partial guarantee model to help companies seeking to upgrade their credit ratings. The model marks a move away from the weak-link rating approach currently being used, where corporations…
Moody's integrates credit risk software with GFA
The Chicago Board of Trade (CBOT) launched its newest product, the 10-year interest rate swap future, today. The new instrument will trade in the agency/swap futures pit and on the CBOT's electronic trading platform.
CFTC makes amendments to CFMA 2000
The Commodity Futures Trading Commission (CFTC) has released the final rules relating to the trading of equity futures products in the United States. These rules implement provisions of the Commodity Futures Modernisation Act of 2000 (CFMA) that lift the…
Barclays launches natural resources ETF
Barclays Global Investors has launched a new exchange–traded fund (ETF) that tracks an index made up of US companies in the natural resources sector. The product lets investors gain exposure to the natural resources sector using a single security.
BNP Paribas launches first leveraged funds CDO
The leveraged funds group at French banking group BNP Paribas has launched its first collateralised debt obligation (CDO) fund focusing exclusively on Western European Leverage Buy-outs (LBOs), in a bid to strengthen its asset management business.
Lehman joint venture to offer emerging market risk measurement
Wall Street investment bank Lehman Brothers and New York-based political risk research firm Eurasia Group have formed a joint venture to combine Lehman's fixed-income research with Eurasia's political science expertise.
DTCC seeks to address post Sept 11op-risk concerns
The Depository Trust & Clearing Corporation (DTCC), the world’s largest clearing company, has seized the initiative to address the issue of systemic operational risk concerns raised in the aftermath of the US terrorist attacks of September 11.
French banks stable following US attacks, says Moody's
International rating agency Moody’s said the credit quality of French banks will remain stable despite the uncertain economic climate in the aftermath of the September 11 attacks in the US. “The French banking sector continues to rank among the strongest…
Cat bond activity set for ‘dramatic’ rise, claims Stonberg
The large pay-out expected by the reinsurance industry following the terrorist attacks of September 11, combined with a recent trend towards more capitalised investment banking firms, could stimulate a “dramatic increase” in the growth of the catastrophe…