France
Lloyds and RBS CDS spreads steady despite downgrade
The decision by Moody’s to downgrade Lloyds and RBS fails to spark surge in CDS spreads, while other European banks finish more or less unchanged on the week despite continuing woes in the eurozone
SG and Crédit Agricole CDS spreads tighten despite downgrade
Traders say decision by Moody’s was already priced in as major French banks escape CDS blow out
Société Générale CDS spreads recover after shaky start
French banks see further spread widening, before disclosure by Société Générale on its eurozone sovereign exposure prompts a turnaround for that bank
Deutsche Bank tops Risk interdealer rankings
Deutsche claims top spot for third year running, with JP Morgan a close second
Short-selling bans spark confusion over index trades and extraterritoriality
Dealers say volumes have been light as market participants try to work out scope of bans – with confusion arising on index trades and the geographic reach of the rules
Protected banks welcome new European short-selling bans
Regulators need to protect markets from "rumours and false information" say bans' supporters
Rumours drive Société Générale CDS wider for second straight day
CDS spreads on SocGen continue to rise - with no obvious driving force - while share prices of the three major French banks fall
European debt twilight zone claims Société Générale
Markets turn against French banks in general - and SG in particular - on a day short on solid news and long on rumours
German CDS spreads soar 80% in a month as crisis hits eurozone core
Credit spreads on core eurozone countries climb on market jitters
EBA stress test results shed light on sovereign derivatives exposures
European bank sovereign derivatives exposures revealed
Sovereign volatility puts Basel III CVA charge in spotlight
Basel III feedback loop between CDS spreads and CVA capital requirements worries dealers, following month of huge sovereign spread moves
Risk.net poll: Orderly restructuring most likely scenario for Greece
Almost half of poll respondents believe Greece will undergo an orderly restructuring in the short term, perhaps leading to a selective default
Italian CDS spreads endure wild ride
Morgan Stanley strategist urges decisive policy response
Inflation and interest rate differentials favouring emerging markets
Long-term prospects for emerging markets look promising, but a more challenging global backdrop and ongoing inflation pressures argue for continued caution, according to European market participants
LCR should include equity, says ACP’s Nouy
Basel III liquidity coverage ratio should admit equities with significant haircuts, says Danièle Nouy at the Autorité de Contrôle Prudentiel
EU support for naked CDS sets up collision with Parliament
Draft text would allow uncovered CDS but sketches out new reporting regime that could spook hedge funds
Editorial: define complex
Editorial: define complex
New regulations leave retail structured products on shaky ground in France
One step forwards, three steps back
Portuguese CDS spreads climb after austerity measures voted down
The EU prepares itself for another sovereign bail-out after Portuguese parliament rejects tax rises and budget cuts
European parliament embraces Tobin tax
Lawmakers throw their weight behind Tobin tax on financial transactions; say global difference of opinion should not stop Europe implementing levy
France debt agency, Cades, to ramp up borrowing in 2011 and 2012
Issuer focus: Cades
Danish regulators push for more flexible Basel III liquidity rules
Shortage of high quality liquid assets prompts Danish regulators to push for changes to the liquidity coverage ratio within the European Union capital requirements directive
Isabelle Bourcier takes charge of ETF development at Ossiam
Isabelle Bourcier has joined asset management firm Ossiam in Paris as part of its plans to start listing exchange-traded funds in the second quarter of this year.
State pension rollback provides opportunity for insurers
Out of the ashes