Oct 1- JPMorgan Chase& Co is set to pay almost a third of a $1.86 billion settlement to resolve claims that a dozen big banks conspired to limit competition in the credit-default swaps market, Bloomberg reported. Morgan Stanley, Barclays Plc and Goldman Sachs Group Inc are paying about $230 million, $175 million and $164 million, respectively, the report said.» Read More
TOKYO, April 15- The Osaka Securities Exchange has begun to review the product design of superlong 20- year Japanese government bond futures to increase their trading, with changes possible as early as this summer, according to sources with knowledge of the plan. Twenty-year JGB futures contracts were re-listed last April after a 12- year hiatus.
The world’s biggest banks have agreed to tear up the rule book on derivatives to make it easier to resolve a future failing firm like Lehman Brothers.
Richmond Fed's Jeffrey Lacker said that his dissent from the central bank's exit strategy stemmed from its mortgage-backed securities plan.
Warren Buffett famously referred to derivatives as "financial weapons of mass destruction," but unless we accept that residential mortgages are too, the phrase glorifies them into something they are not.
Clever finance critters are fleeing from swaps to futures, escaping the new regulatory regime that was a center-piece of Dodd-Frank.
After the unveiling of Libor rate-rigging practices among banks, eyes are turning to other markets, worrying that the manipulation would not be limited to Libor rates, the New York Times reports.
Hundreds of employees at big firms, some part of special teams, will be on standby this Sunday, awaiting the results of Greece’s pivotal election. The New York Times reports.
Conflicting signs are emerging in Washington over whether JPMorgan Chase’s surprise trading loss will spur tighter regulation on Wall Street, The New York Times reports.
JPMorgan’s next move depends on what happens in the credit markets. If investors become fearful about companies’ prospects , JPMorgan’s bet could face even bigger losses, The New York Times reports.
The triggering of insurance payments on Greek sovereign debt should be a "non-issue" for the markets, as they will happen in an orderly fashion, a representative of the International Swaps and Derivatives Association (ISDA) told CNBC on Monday.
The financial system could face a test this week as industry officials debate a provision of the Greek bailout, the New York Times reports.
Interest rate swaps are derivative instruments commonly used by sophisticated investors to allow cash flows on interest-earning securities or loans to be exchanged. CNBC explains.
Bankers believe that an additional disclosure requirement, relating to previously unpublished details of banks’ credit exposures, could trigger approaches for credit portfolios from specialist buyers. The FT reports.
The Securities and Exchange Commission is investigating Merrill Lynch’s sale of a complex mortgage-related security it created for Magnetar, an Illinois hedge fund, and the collateral manager involved in the deal. The FT reports.
Conflicts of interest, excessive risk-taking and failures of government oversight triggered the financial crisis and helped push the country into the deepest recession since the Great Depression, concludes a new report by the U.S. Senate.