News
Citi bankers quit to launch FX hedge fund
Citigroup’s former global head of proprietary trading, Patrick Hall, is launching a new macro hedge fund with partners John Banerjee and former Citi economist Michael Burke.
Op risk is increasing for weak banks, says regulators’ guidance
Operational risk will come into greater focus for banks worldwide and will become more important as a factor in weak banks, global banking regulators said in early April.
Regulators expected shortly to fix date for Basle II op risk survey
Global banking regulators are expected to decide in mid-April on the date for issuing to banks a further survey seeking information on operational risk as part of the development of the Basle II bank capital adequacy proposals.
FSA disappointed by latest delay to Basle II accord
It was no secret that the UK’s principal financial watchdog, the Financial Services Authority (FSA), was "a little disappointed" at the latest delays to the Basle II accord, a senior FSA official said in March.
FASB reverses on loan commitments
The US Financial Accounting Standards Board (FASB) has ruled that undrawn loan commitments will not be subject to derivatives accounting rules and do not have to be marked-to-market – a victory for commercial lenders.
Sep 11 attacks make Basel II more relevant
The September 11 attacks on New York’s financial district have made the operational risk provisions of the proposed Basel II banking accord "much more relevant to many more people", a paper by business consultants Aroq Research said in March.
Imperial Tobacco
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China peg fears overplayed
New Angles
China opens forex market
New Angles
European equity derivatives outstrip cash for first time
Banks in the European corporate and institutional markets are making more money out of equity derivatives than cash products for the first time, according to Morgan Stanley and consultants Oliver, Wyman.
DataSynapse gathers momentum
DataSynapse – winner of Risk magazine’s 2002 software product of the year award for its LiveCluster product – has unveiled five new hires.
GFI offers repo traders a new derivatives tool
New York-based interdealer broker GFI has added forward allocation general collateral (FAGC) repurchase agreements and corporate bond repos to its GFInet European trading screen.
NSSB hires fixed-income derivatives structurer
Nikko Salomon Smith Barney (NSSB) has hired Tatsuya Takeda as a director in its fixed-income derivatives team, according to an official at the bank in Tokyo.
PRMIA to offer rival exam to Garp
The Professional Risk Managers’ International Association (PRMIA) will launch its own certified risk manager programme in competition with the financial risk manager (FRM) exam offered by the Global Association of Risk Professionals (Garp).
Crude futures hit six-month highs
Crude oil futures on the New York Mercantile Exchange (Nymex) hit six month highs of $25.61 a barrel (bbl) on March 21 as a combination of rising demand, continued supply curbs and fears of US action against Iraq drove prices higher.
Patsystems' Jones survives no-confidence vote
The results of patsystems' extraordinary general meeting (EGM) held yesterday could not have produced better results from the perspective of the London-based independent software vendor’s current management team.
FSF chair backs SPVs but calls for better disclosure
The Financial Stability Forum (FSF), a body of national supervisors set up in 1999, has emphasised the need for greater disclosure and corporate governance in the wake of a number of high-profile bankruptcies, at its first meeting following the collapse…