Offshore
Offshore CNY deliverable forwards in Hong Kong to outgrow NDFs
Rising offshore renminbi interbank rates in Hong Kong have made its deliverable forwards market the cheapest forum compared with NDFs and onshore forwards for corporates to hedge, bankers say
Spot USD/CNH fixing in HK poised to become derivatives benchmark
Hong Kong interbank participants have created the first US dollar to offshore renminbi price fixing giving the city first-mover advantage in becoming an offshore centre for renminbi products such as derivatives, say market participants
HKEx to launch renminbi secondary market facility to support IPOs
The exchange says the new offshore renminbi secondary market liquidity pool will not introduce additional counterparty or forex risk, thanks to a back-to-back arrangement with interested partner banks and brokers
Asian Financial Forum: China tests further easing of renminbi convertibility of capital account
China's State Council is advising the Shenzhen municipal government and local regulators about permitting renminbi conversion outside of currency restrictions
US oil spill report recommends risk management changes
Presidential commission suggests reforms to address oil sector risk management after BP Gulf of Mexico spill investigation
Asia Risk Congress 2010: Hong Kong finance official says government is pushing China to further ease controls on ‘dim sum' bonds
Asia Risk Congress 2010: Hong Kong finance official says government is pushing China to further ease controls on ‘dim sum’ bonds. Meanwhile, an open-ended renminbi bond fund by Income Partners is launched
BP’s Gulf of Mexico oil spill will not push fuel switching
Experts quash fears that tighter restrictions following BP’s Gulf of Mexico oil spill will result in oil to gas fuel switching in the US, thus pushing up gas prices
Nigerian official says oil exports not at risk
Nigeria’s oil minister has dismissed market reports that the country’s oil supply will dramatically tighten following insolvency rumours and major plans for offshore drilling
Europe to place CDS markets under spotlight: Barnier
European commissioner Michel Barnier says legislation in works requiring credit default swaps to be registered and made fully transparent; follows criticism of investors from European leaders
Carbon trading to be highly regulated under Senate energy bill
US senators have published a climate change bill establishing a cap-and-trade system for power plants and industrials that permits only exchange-traded and cleared transactions.
Offshore policy remains unclear after drilling ban
The full effect of the recent Gulf of Mexico oil spill on US offshore drilling policy remains unclear as the official investigation continues.
First US offshore wind farm approved
The first US offshore wind farm has been approved by the US government in an area of the Outer Continental Shelf, with the potential to eventually provide 1 million megawatts of offshore energy.
Obama launches new offshore drilling plan
In a joint announcement yesterday, US President Barack Obama and secretary of the interior Ken Salazar disclosed further details of efforts to strengthen energy security.
Obama calls for comprehensive energy bill
In last night’s State of the Union address, President Barack Obama said he was eager to advance a bipartisan energy and climate change bill in the US Senate.
Offshore wind to provide 17% of European electricity by 2020
Current offshore wind capacity has the potential to supply 17% of European Union electricity demand by 2030, according to the European Wind Energy Association (EWEA). Offshore wind currently provides a meagre 0.3% of European electricity demand.
A seagull's-eye view
US offshore energy could receive a boost from a newly announced US Federal regulatory scheme. Gregory Lawrence, Mustafa Ostrander and Stephen Smith of McDermott Will & Emery outline the programme
Finance departments lament loss of control over daily workflows
Daily news headlines
Putting the European regulatory framework in place
Hedge fund regulation high on European parliament agenda
Offshore outsourcing poses serious risks for brokers
MASSACHUSETTS - A report issued in March by Massachusetts-based consulting firm TowerGroup - Offshore outsourcing onslaught to impact brokerage spending, staffing, and service landscape - examines how growing numbers of US securities firms are opting to…
IMF study shows Basel weaknesses in offshore centres
Many offshore centres have weaknesses in the on- and off-site supervision of their banking systems, as well as "less material weaknesses" in their credit supervision and market risk, according to a study by the International Monetary Fund (IMF).