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The hard fought battle last summer over derivatives regulation reform may be about to be replayed—but this time one of the strongest proponents of stricter legislation will be absent on the field of battle.
China’s commodities exchanges do not yet play a global role and they are limited by laws banning foreign participation as well as China’s renminbi capital controls. The FT reports.
Hundreds of South Korea’s small and midsized exporters have threatened to boycott a number of significant foreign-owned banks after they suffered heavy losses from currency derivative investments. The FT reports.
When Capitol Hill set out to force derivatives onto exchanges, lawmakers carved out a broad exemption for so-called "end users" — non-financial companies seeking to hedge their exposure to fluctuations in currencies, commitments and interest rates. An ambiguity in the Dodd-Frank financial reforms, however, threatens to undermine the end-user exemption
We were curious about how market participants would react to our idea that requiring swaps to trade through exchanges would invite dreaded high frequency traders into the market.
In a scathing criticism of the Obama administration, Home Depot co-founder Bernie Marcus told CNBC Friday that Treasury Secretary Geithner should have a reality-TV show about small business, because it would illustrate how out of touch the Obama administration is with the private sector.
The European Union's proposals to revamp the derivatives sector are actually likely to benefit the banks that are already too big to fail, risk consultant Satyajit Das told CNBC Thursday.
These hotshots aren't household names. Until recently, they've shunned the limelight.
Warren Buffett's Berkshire Hathaway reports a 72.7 percent increase in its second quarter operating earnings to $3.07 billion, with "major contributor" Burlington Northern Santa Fe adding $603 million during the period. But unrealized losses on derivatives contracts helped bring Berkshire's net earnings down by 40 percent.
Portugal has become the first euro-zone country to agree to set aside cash – or other assets – against derivative transactions in a decision intended to reduce its funding costs.
Plus, get the Treasury secretary's thoughts on derivatives, the economy, Fannie and Freddie and more.
Warren Buffett's Berkshire Hathaway, along with other companies in similar circumstances, won't have to put up any collateral for existing derivatives contracts, according to a letter written by two of the key FinReg lawmakers on Capitol Hill.
Goldman Sachs' testimony before the Financial Crisis Inquiry Commission Thursday spurred skepticism and frustration among commission members when the investment bank claimed it does not break out revenue and profits from derivatives exposure, Phil Angelides, chairman of the commission, told CNBC Thursday after the hearing.
Warren Buffett's Berkshire Hathaway may need $6 to $8 billion in collateral for its multi-billion dollar collateral contracts, if the financial regulation bill passes Congress in its current form. That's the estimate of Barclays Capital analyst Jay Gelb in a note to clients today, although we won't know for sure until the dust settles.
The death of Sen. Robert Byrd has thrown the future of financial reform legislation into question just days ahead of an expected final passage vote in the Senate.
US lawmakers hammered out a historic overhaul of financial regulations as dawn broke over the nation's capital Friday, handing President Barack Obama a major domestic policy victory on the eve of a global summit devoted to financial reform
The financial reform bill will likely hurt consumers more than banks because Wall Street will find a way to get around it, banking analyst Richard Bove told CNBC.
The compromise reached by negotiators on financial regfulation reform is far from perfect, Sen. Bob Corker (R-Tenn.) and member of the Senate Banking Committee, told CNBC Friday.
The US will face a severe credit crunch if the financial regulation bill passes in its current form, Sen. Judd Gregg (R-NH) told CNBC Thursday.
If a certain Arkansas senator gets her way, you might want to consider buying a couple of European financials.