Halifax Bank of Scotland (HBOS)
Eurozone and US bank CDS spreads widen
UK and European financial institutions faced declining market sentiment in early trading today, while the cost of credit protection on US banks continued to rise.
European CDSs continue to climb
The cost of credit protection on European banks increased in early trading today, while market sentiment towards US financial institutions remained favourable.
UK FSA fines approach £100 million
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RBS, HBOS and Lloyds TSB ask for government capital
The UK government announced this morning it will pour a total of £37 billion into Royal Bank of Scotland (RBS), HBOS and Lloyds TSB, as part of a recapitalisation plan revealed last week.
UK bank CDS spreads tighten further
The cost of credit protection on UK banks fell further in early trading today following the unveiling of a £50 billion government rescue plan on Wednesday, but US markets remained unstable.
CDS spreads widen despite bailout approval
Credit default swaps (CDSs) on a number of major dealers widened yesterday in spite of the US Senate vote on a revised $700 billion financial rescue plan.
CDS spreads tighten as bailout is revised
The cost of protection on some of the world’s largest financial institutions fell yesterday as the US Senate agreed to vote on a revised version of the $700 billion financial rescue plan.
CDS spreads continue to tighten
Credit default swap (CDS) spreads on financial institutions had tightened further by close of play on September 19, as market confidence continued to rise after large injections of cash from central banks
CDS spreads continue to widen
Credit default swap (CDS) spreads on financial institutions have continued to widen, despite the bailout of US insurer American International Group (AIG) by the US Federal Reserve Board on Tuesday.
FSA concludes HBOS rumours investigation
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UK bank rights issues flop as Citi announces $7 billion writedown
Multi-billion-pound rights issues by two major UK banks produced disappointing results this weekend, as US giant Citigroup announced $7.2 billion in writedowns on its subprime, monoline and commercial real estate exposures.
FSA to have new market abuse powers
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HBOS agrees SAS consumer contract
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HBOS operational risk officer joins KPMG
Andrew Smith, former chief financial and operational risk officer at HBOS, has joined KPMG as a London-based managing director in the consultancy firm's financial risk management practice. Smith will develop the group’s technical expertise and expand it…
GFI hires vom Scheidt from Commerzbank
Interdealer broker GFI has hired Kurt vom Scheidt as a foreign exchange product manager in its data and analytics group of in London as FX product manager. Vom Scheidt joins from Commerzbank in London, where he was global head of markets business…
Risk and responsibility
A growing number of banks are producing sustainability reports detailing their environmental and socially responsible initiatives. Is this just slick PR or has sustainability become an important risk management consideration? Clive Davidson investigates
Algorithmics assesses its op risk market
Demand for third-party operational risk management applications is growing steadily, but there is still no sign that there will be a dramatic uptake in the near future, says David Syer, director for operational risk at Toronto-based risk management…
Société Générale subscribes to Fitch Risk’s Opvantage
French bank Société Générale has entered into a subscription agreement with Fitch Risk to access its financial institutions risk scenario trend (First) database.
Risk management held back by lack of clear definition
Risk managers must collectively define the value of their trade to be taken seriously, according to Andrew Smith, chief financial risk officer of UK bank HBOS.
Risk management held back by lack of clear definition
Risk managers must collectively define the value of their trade to be taken seriously, according to Andrew Smith, chief financial risk officer of UK bank HBOS.
Firms rise to the op risk data management challenge
NEW YORK - Like all risk management problems, operational risk relies on a sufficient supply of good quality data if analysis is to be meaningful and decision-making effective.
The headaches of op risk integration
The banking industry, spurred by Basel II, is acquiring systems to cope with the host of disparate issues that fall under the rubric of 'operational risk'. But how do you stitch these piecemeal solutions together?