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European regulators lower Solvency II capital charges for private debt
5 years ago
The European Commission has amended Solvency II rules to make it easier for insurance companies to invest in private debt and private equity -
CDS relative value traders shift their bets as Europe trades inside US
5 years ago
Credit derivative markets have hit a point of position cutting and resetting, with the iTraxx Europe index having dipped inside its US counterpart CDX IG for the first time since December even as the European Central Bank’s new funding programme underwhelmed financials traders -
Securitisation Regulation hits European ABS issuance
5 years ago
Issuance in traditional European ABS has been notably slow in the first two months of 2019 following the introduction of the new Securitisation Regulation. -
Private credit body urges regulators to remove barriers
5 years ago
The Alternative Credit Council (ACC) is lobbying for policy makers to remove barriers in some EU countries that restrict the ability of non-bank lenders to operate -
Initial margin relief falls short of industry calls
5 years ago
Reprieve for many smaller counterparties from a requirement to post initial margin (IM) on derivative trades looks likely, following a statement from regulators this week -
US dollar three-month is focus point for benchmarks, finds Ice Libor survey
5 years ago
One-, three- and six-month US dollar and sterling are the focus points for Ice Benchmark Administration to seek agreement with banks, according to the results of IBA’s survey on uses of Libor -
Isda extends German CDS protocol deadline beyond March index roll
5 years ago
The International Swaps & Derivatives Association (Isda) has extended the deadline for market participants to adhere to its German bank CDS protocol after it became clear a number of affected parties would not be signed up in time -
US and UK sound post-Brexit derivatives regulatory accord
5 years ago
The US Commodity Futures Trading Commission (CFTC) and the Bank of England have issued a joint statement assuring derivative market participants of continued access to trading and clearing after the UK’s exit from the European Union -
Dentons boosts derivatives practice in London with two partner
5 years ago
Dentons has added two partners to its derivatives practice in London -
Esma grants no-deal Brexit recognition for UK central clearers
5 years ago
The European Securities and Markets Authority (Esma) has moved to avoid a derivatives market debacle by agreeing to recognise three UK-based central counterparties (CCPs) in the event of a no-deal Brexit -
Behave yourselves: EBA policy advisor warns against misuse of securitisation rules
5 years ago
The European securitisation market has come a long way over the last decade, and the message from one policy advisor is clear – don’t do anything to mess it up. -
DTCC appoints Deriv/Serv board chairman to replace Thompson
5 years ago
The Depository Trust & Clearing Corporation (DTCC) has appointed a replacement board chairman of its Deriv/Serv credit derivatives repository following the retirement of Larry Thompson in December -
SEC proposal could strengthen BDCs’ power to purchase funds
5 years ago
The Securities and Exchanges Commission (SEC) has released proposals to allow regulated US funds, including listed funds, closed-end funds and business development companies (BDCs), to acquire shares of other regulated funds in excess of current limitations -
CDS lives to bring more fights as it steers past Ziggo and Sears
5 years ago
Credit default swaps have navigated two big tests of their rules, holding up to scrutiny on Ziggo Bond Finance (ZBF) and Sears Roebuck Acceptance Corp (SRAC), despite warnings they could weaken the product -
Isda sets 27 February deadline for German bank CDS protocol adherence
5 years ago
The International Swaps and Derivatives Association (Isda) has launched a protocol for German bank CDS, as the industry looks to adapt to a change in the country’s law regarding senior financial debt -
Bank of England agrees post-Brexit recognition of UK central clearers with Esma
5 years ago
The Bank of England and the European Securities and Markets Authority (Esma) have agreed to continue to recognise central counterparties (CCPs) and the central securities depository (CSD) established in the United Kingdom in the event of a no-deal Brexit -
CDS food fight as UNFI sues Goldman Sachs over SuperValu deal
5 years ago
United Natural Foods Inc (UNFI) has summoned Goldman Sachs to court, accusing the bank of bad faith in the way it handled the US retailer’s buyout of SuperValu last year, a transaction which caused the target firm’s CDS spread to bloat by over 200bp in one day -
Isda seeks fallback spread vendor for derivatives
5 years ago
The International Swaps & Derivatives Association is seeking an independent service provider to calculate and publish adjustments to fallbacks it will use in interest rate benchmarks for its Isda definitions -
Esma requests derivatives clearing reprieve for smaller counterparties as deadline looms
5 years ago
With time running out for market participants to comply with a 21 June deadline to start centrally clearing over-the-counter credit and interest rate derivatives, the European Securities and Markets Authority (Esma) has pleaded with national regulators to overlook the failure of smaller counterparties who may subsequently be absolved from the requirement in any case since thresholds are not yet finalised -
Central counterparties need to improve after Nasdaq Clearing member default, says Isda
5 years ago
Derivative central counterparties (CCPs) must look to make a number of improvements to risk practices, the International Swaps and Derivatives Association has said in a paper that follows a clearing member default at Nasdaq Clearing in September -
Ziggo CDS protection buyers get a lift as DC votes for successor
5 years ago
Holders of credit default swap protection on Ziggo Bond Finance have received a boost, with the EMEA Determinations Committee ruling that contracts structured under the 2014 Isda credit derivative definitions have a successor – dispelling fears they would be orphaned. -
BlackRock BDC seeks shareholder approval to fast-track leverage increase
5 years ago
BlackRock TCP Capital Corp has become the latest business development company to seek shareholders’ approval to double its use of leverage -
US regulation drives insurance money towards credit ETFs
5 years ago
Institutional investors are increasingly allocating to credit exchange-traded funds (ETFs), but their motivations are changing. These vehicles are famed for their liquidity, but several investors are said to be pouring money into them for the long term amid regulatory changes which have made ETF investments more favourable -
LMA seeks no-deal Brexit safety net for European lending
5 years ago
European regulators have voiced concerns about the potential damage a no-deal Brexit scenario would do to the syndicated loan market and the wider European Union economy -
Sears CDS battle lines set out in market-defining legal fight
5 years ago
Legal sides have set out their arguments in the high-stakes Sears Roebuck Acceptance Corp credit event external review, in what an industry group of asset managers claims is a “unique opportunity to provide clarity on one of the most important definitions for the credit default swap product”
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