Goldman Sachs
Static data moves forward
Firms tackling high-speed and information-intensive tasks such as straight-through processing or risk management without accurate instrument and counterparty reference data may be taking enormous operational and credit risks. Clive Davidson reports on…
SPE accounting proposal threatens CDO market
Proposed changes to US accounting standards for special-purpose entities (SPEs) could cause a dramatic decline in issuance of collateralised debt obligations (CDOs), analysts say.
FASB reverses on loan commitments
The US Financial Accounting Standards Board (FASB) has ruled that undrawn loan commitments will not be subject to derivatives accounting rules and do not have to be marked-to-market – a victory for commercial lenders.
Credit derivatives majors form data alliance
Goldman Sachs, Deutsche Bank and JP Morgan Chase have launched a credit derivatives market data scrubbing and sharing project meant to head off disputes among market participants over the terms of their contracts.
Goldman signs up Imagine for prime brokerage
Goldman Sachs is to offer Imagine Software's ASP risk management and trading services to clients of its prime brokerage unit, GSI Prime Brokerage, formalising a partnership begun last year in which GSI clients started using the Imagine product.
Calls mount for bank and rating agency disclosure on Enron
Leaders of the US House Energy and Commerce Committee yesterday called on 10 investment banks and three credit-rating agencies to turn over records linked to Enron. Questions to the banks focused on loans to Enron and whether future business with Enron…
Changes afoot at rating agencies
Rating agencies are under fire once again, this time for failing to anticipate Enron’s bankruptcy. But they are looking to improve their methodology. What do the changes mean for banks that will have to rely on their ratings under Basel II?
EFTs, e-minis defy low equity derivatives flows
Exchange-traded funds (ETFs) and e-mini contracts defied January's trend of unusually low derivatives volumes and volatility, according to Joanne Hill, managing director and head of trading research at Goldman Sachs.
Japan resumes NPLs reduction drive
The Resolution and Collection Corporation (RCC), entrusted by the Japanese government to help reduce Japanese banks’ major non-performing loan (NPL) problems, has concluded its first securitisation deal this year. An RCC spokesperson said the transaction…
Goldman steps up hedge fund effort with two hires
Goldman Sachs has added two new portfolio managers and transferred another pair to its hedge fund strategies group - a unit the investment bank claimed has seen significant asset growth in recent months.
European tax-exempt firms wary on alternative investments
European tax-exempt institutions are lagging significantly behind their US counterparts in private equity and hedge fund investments, although the appeal of alternative investments is gaining popularity, according to Goldman Sachs.
FASB: loan commitments must be treated like derivatives
The US Financial Accounting Standards Board (FASB) ruled last month that some unfunded loan commitments made by banks should be treated like derivatives and marked-to-market. The ruling came nearly nine months after Goldman Sachs first proposed the…
Open interest on E-mini futures surges; S&P 500 vol relents
Open interest on Nasdaq 100 and S&P E-mini futures contracts, electronically traded index futures and options that are smaller than standard futures contracts, has increased by 63% and 15%, respectively, since October. The ratio of open interest to…
Dealers' VAR increases during 2001, says BofE report
Average value-at-risk (VAR) levels among leading dealers has increased over 2001, but despite increased vol across equity and rates markets post-September 11, large trading losses appear to have been avoided, according to the Bank of England’s Financial…
Goldman's Litzenberger retires
Bob Litzenberger, head of firm-wide risk management for Goldman Sachs, retired last week. Noel Donohoe, chief operating officer for the firm-wide risk management group, has replaced him.
Building for Basel
The 2005 implementation date for the new Basel II Accord – already postponed by a year – is looming large. Whilst the banking sector is steadily gearing up for the proposed changes, there are fears that some institutions may be left behind.
Building for Basel
The 2005 implementation date for the new Basel II Accord – already postponed by a year – is looming large. Whilst the banking sector is steadily gearing up for the proposed changes, there are fears that some institutions may be left behind.
The shifting sands of Basel II
Four months after the Basel Committee on Banking Supervision closed the consultation period on its January 2001 draft for a new international capital Accord, it has already made major amendments to its proposal.
Goldman To Roll Out Teknekron's 'Middleware' Transaction Platform
TECHNOLOGY & INTEGRATION