HSBC
The KIS of life?
Keydata Investment Services was placed into a speedy administration by the UK's Financial Services Authority on June 8 on the grounds of insolvency. All new business was suspended and a temporary suspension of payments on policies was imposed by the UK…
US bank fraud ring rumbled
Losses & Lawsuits
HSBC adopts SAS enterprise fraud system
Daily news headlines
CDSs on UK financials widen
The cost of credit protection on major UK banks rose this morning. The move came on the back of Standard & Poor's putting UK sovereign debt on negative ratings watch last week.
CDSs on European and US banks continue to widen
The cost of credit protection on financial institutions increased today across Europe and the US. The move came after the Bank of England's quarterly inflation report showed UK GDP growth was slower than expected in the first quarter of 2009 yesterday,…
CDSs on financials tighten on positive results
The cost of credit protection on European banks fell this morning ahead of the US government releasing the results of its stress tests on 19 US banks, helped by positive interim reports from UK banks.
CDSs on European banks remain stable
The cost of credit protection on European banks remained largely unchanged this morning, as bank holidays in mainland Europe reduced trading levels.
Feeling the squeeze
Editor's Letter
Safe haven
Gold has been a favourite with investors looking for a safe haven since last year’s turbulence began. But will this persist in 2009, or will the precious metal start to lose its shine as a hedging option? Pauline McCallion finds out
CDSs on airlines widen on swine flu fears
The cost of credit protection on major airlines increased this morning, as fears mounted that tourism would decline due to the swine flu outbreak in Mexico.
CDSs on US banks tighten on JP Morgan profit
The cost of credit protection on major US banks fell yesterday in the wake of JP Morgan posting a first-quarter profit of $2.1 billion.
Encouraging US data helps CDSs on European banks narrow
Five-year senior credit default swap (CDS) spreads referencing European banks narrowed this morning. With JP Morgan announcing a first-quarter profit of $2.1 billion, market participants hoped for more encouraging news from the US.
CDSs on European banks widen
The cost of credit protection on European banks increased this morning, as UBS predicted a first-quarter 2009 loss of Sfr2 billion.
CDSs on European financials tighten
The cost of credit protection on European banks decreased this morning, after Goldman Sachs reported a first-quarter net profit of $1.81 billion yesterday.
CDSs on European financials tighten after G-20
The cost of credit protection on European financial institutions fell this morning following the end of the Group of 20 leading economies (G-20) summit in London yesterday.
CDSs on European banks narrow as stock markets rally
The cost of credit protection on European banks began to fall this morning following data from the US showing the rate of decline in the US manufacturing sector is decelerating, coupled with reports of UK house prices rising for the first time since…
Investors sue HSBC, BNY Mellon and Lehman over 'Minibonds'
Losses and Lawsuits
CDSs on US banks widen on fears of auto bankruptcies
The cost of credit protection on US banks increased yesterday, following the Obama administration's warning that it would let the US auto industry slide into bankruptcy if necessary.
CDSs on European financials widen
As equity markets tumbled this morning amid fears the US government would not extend further aid to the auto industry, the cost of credit protection on European banks rose.
CDSs on banks under UK asset protection programme widen
The cost of credit protection on UK banks rose marginally this morning. As the deadline of March 31 for UK banks to sign up to the government's asset protection programme approaches, banks already participating in the scheme saw their CDSs widen the most.
CDSs referencing US banks widen
The cost of credit protection on US banks continued to rise yesterday, following Treasury secretary Timothy Geithner announcing a plan to relieve US banks of toxic assets on March 23. Some analysts believe Geithner's plan still lacks detail, particularly…
CDSs on UK financials begin to widen
The cost of credit protection on UK banks rose this morning after two days of narrowing in five-year senior credit default swap (CDS) spreads.
CDSs on financials continue to tighten
The cost of credit protection on both US and European financials continued to fall today, in the wake of US Treasury secretary Timothy Geithner announcing a toxic-asset purchase plan aimed at boosting the US financial system yesterday.