The ongoing FX outlook is relatively benign for investments into Vietnam, according to VinaCapital managing director Andy Ho, who has responded to questions about the dong following the regulatory announcement of a property sale in the country. The VinaCapital Vietnam Opportunity fund, a London Stock Exchange Main Market traded investment company, previously announced the sale […]
Intesa Sanpaolo has issued €1bn in covered bonds targeting institutional markets. It is a seven-year, fixed-rate issue under the €20bn cover bonds programme mostly backed by residential mortgages, Intesa Sanpaolo said. The 0.625% coupon is payable in arrears on January 20th of each year. The re-offer price is 99.375%. Considering the re-offer price, the yield to maturity is 0.717% per annum, […]
The adoption of CCPs in the OTC derivatives world creates a number of factors to consider for derivatives users, says platform CloudMargin’s latest research.
Buy-side frustrations with the post-crisis regulatory landscape were aired at Risk’s OTC Derivatives Clearing Summit in New York, with speakers from both the Federal Reserve and the Securities and Exchange Commission (SEC) promising greater clarity in the coming months.
The European Commission has acknowledged concerns about the impact of its proposed financial transaction tax (FTT) on cleared over-the-counter derivatives trades, after a leaked discussion document revealed member state fears that the tax regime could encourage market participants not to clear and even threaten clearing house solvency.
In an effort to reduce the counterparty risk associated with OTC derivative trades, regulators are enforcing central clearing and strict margin requirements that limit eligible collateral to the most liquid and lowest risk assets, according to a report by consultants at Investit.
The US approach to the cross-border application of over-the-counter derivatives rules is “not sustainable” according to a letter sent to US Treasury secretary Jack Lew yesterday by eight finance ministers and the European Commission.
Despite the industry’s best efforts, it will be impossible to avoid operational problems as the over-the-counter derivatives market transitions to central clearing, banks have warned at an industry event in New York.
The first compliance deadline of the European Markets and Infrastructure Regulation (EMIR) comes into force this Friday, catching many financial and non-financial firms unaware, according to consultancy PwC.
Buy-side firms have reacted angrily to temporary portfolio margining provisions rushed out by the Securities and Exchange Commission (SEC) late on Friday as the clock counted down towards the start of mandatory clearing in the US.
Simon Garwood, Investment Services at Fiserv and Andy Mellor, Risk and Compliance, say that those considering a response to OTC regulations must also address operational risk issues.
Post trade risk management firm TriOptima says it eliminated $84trn in OTC derivatives notional principal outstanding in 2012: $80.5trn in interest rate swap notionals and $3.5trn in credit default swap (CDS) notionals.