Dec 1- The U.S. Justice Department is not planning any penalties on a civil probe relating to allegations that large banks tried preventing competition in the credit default swaps market, the Wall Street Journal reported, citing people familiar with the matter.» Read More
TOKYO, July 19- Japanese government bond futures rose to a 5-1/ 2- week high on Friday as stock prices skidded ahead of Japan's upper house election on Sunday, though cash bond trading was subdued.
NEW YORK, July 18- The credit default swap spreads of Avon Products dropped a further 8 bp to 190 bp on Thursday and are now down 25% on the month, as the turnaround in the beauty products company continues to instill confidence in investors.
WASHINGTON, July 12- The top U.S. derivatives regulator on Friday adopted guidelines on how to apply its rules abroad, granting some respite to Wall Street banks worried that a jumble of new international rules would hurt their business.
WASHINGTON, July 10- The European Union is confident it can end a rift with the United States over how to write common rules for financial derivatives, the bloc's top bank regulation official said on Wednesday.
KIEV, July 9- The European Bank for Reconstruction and Development, the largest financial investor in Ukraine, plans to start borrowing in hryvnias on the local market to fund further hryvnia lending, the bank said on Tuesday. Ukraine's parliament passed a bill last week that allows international financial institutions to borrow in hryvnias.
WASHINGTON, July 8- A trans-Atlantic rift over derivatives could be ended by an offer from the U.S. swaps regulator that would spare foreign banks from some tough U.S. rules, according to two people briefed on the matter.
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.