Foreign exchange

AIG warns of potential losses in CDS portfolio

AIG could be exposed to further losses on the super-senior credit default swap (CDS) portfolio held by its subsidiary AIG Financial Products (AIG FP) should credit markets continue to deteriorate, according to a filing the company made to the US…

IEA reduces predictions for oil demand

The recession has seen the IEA revise down its predictions for oil demand in 2013 by 3.3 mb/d, with consumption falling as low as 84.9 mb/d by 2014 in the worst case scenario, and demand for gas dipping for the first time in 50 years.

Nomura offers protective safeguards with Flexis

Nomura has launched Flexis, a new structured product that offers protective safeguards to calm the default, valuation and liquidity concerns of investors. The predefined process for the resolution if an arranger defaults - in the form of resilience…

SEC to tighten rules on money market funds

Money market funds, the retail investment funds which exacerbated the effects of the financial crisis in September last year, are to come under far stricter oversight, under draft rules announced by the US Securities and Exchange Commission on June 24.

Q&A: Osfi chief champions Canada's regulatory framework

Julie Dickson, superintendent at the Office of the Superintendent of Financial Institutions (Osfi) in Canada, talks exclusively to Risk about how Canada's regulatory framework has helped institutions weather the financial crisis, and shares her views on…

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