Currency risk
Japanese corporates boost forex hedging
Notionals traded highest since end-2012
In ongoing drive, Shell slashes debt by almost $8 billion
Gearing ratio down 220 basis points year to year
BBVA gets forex model update from ECB
Foreign exchange risk added €366 million in capital requirements in 2017
Goldman VAR dips on equities and rates risk
Average daily value-at-risk falls 12% from three-year peak in Q1
Emerging market corporate bonds as first-to-default baskets
Modified Merton model offers insights on EM corporate debt
Citi largest counterparty for Templeton currency hedges
Citi accounted for 23% of outstanding forwards at end-March
BP net derivative assets top $1.5 billion
Hedging instruments fair values rise while oil prices surge
General Motors embraces hedge accounting change
Automaker ramps up cash flow hedging in wake of FASB update
Ford reports $204 million derivatives charge
Foreign exchange and commodity contracts fall in value
EU shelves limits on structural FX hedge exemptions
Basel rethink on FRTB capital ratio hedging prompts fresh questions over EU implementation
Goldman Sachs’ VAR at three-year high
Increased client activity and market volatility increases firmwide risk
Quants find hidden currency risk in domestic stocks
Pure exposure to home equities harder to isolate than previously thought, new paper says
Asian buy side faces non-cleared margin currency penalty
Global banks charge premium for accepting local securities instead of major currencies
Surprise RMB strengthening prompts unwinds
“A lot of long [US$] positions were unsustainable and had to be re-evaluated,” says forex structuring head
Emir review could push securitisations into the dark
Subjecting deals to margin requirements would be a further blow to STS securitisation concept
China M&A boom presents unique hedging headaches
Crackdown on ‘fake’ deals adds to risk in contingent hedges
M&A mania: deal-contingents re-emerge but risks remain
Price of forex hedges plummets as dealers flock to offer high-risk, high-reward product
FCA asks prop traders about capital impact of sterling fall
Regulator seeks info on currency make-up of capital base, and capital adequacy
IFC risk management directors wrestle with strong dollar
Weak emerging markets and commodities downturn are also posing a challenge
Currency-hedged ETF surge prompts hedging concerns
Eurozone QE programme prompts wave of investor interest