Credit risk
European Insurers face downgrades amid continuing sovereign debt crisis
Generali subsidiaries and Groupama receive downgrades; Aviva placed under review
The CVA-CDS feedback loop
The CVA-CDS feedback loop
Quants call for Isda to clarify close-out values
Leading quants highlight ambiguity in Isda master agreement - but warn that resolving the issue could worsen systemic risk
Cutting Edge introduction: clarity needed on credit adjustments
Credit and credibility
Cutting Edge: the year of CVA
The year of CVA
Close-out convention tensions
Close-out convention tensions
New standard CSA too dollar-centric, say Asian banks
Banks in Asia-Pacific complain about dollar dominance in new standard CSA – prompting Isda to rethink its plans
MF Global: non-US clients caught in cross-border collateral trap
Omnibus structure meant clearing clients of MF Global outside the US were asked to double up on collateral payments. Use of the structure for OTC markets is now in doubt
Is asset-backed credit support an option for energy firms?
Coming up with the money
Eksportfinans faces collateral questions following downgrade
Junk-rated export lender says it has enough reserve liquidity to meet obligations while it is being wound up - but dealers are not convinced
ECB offers CSDs financial incentives for early T2S adoption
European Central Bank offers central securities depositories (CSDs) financial incentives to sign up to T2S early; governing council gives CSDs until the end of April to agree
Banque de France outsources collateral management
French central bank agrees collateral management deal with Euroclear France; entire French banking community will use new system next year
Commission unveils contentious Eurobond proposals
European Commission unveils three options for Eurobonds in bid to restore stability in Europe; analysts say the measures are politically unviable and ineffective
EU proposals for credit ratings rules require close monitoring by hedge funds
Draft language could affect the way hedge funds perform their own internal credit analysis
Sean Kavanagh leaves Deutsche Bank for Citi
Loan risk manager takes newly created job as head of credit portfolio management at Citi
Cutting Edge introduction: the DVA debate
The DVA debate
Getting CVA up and running
Getting CVA up and running
Asia Risk Congress 2011: CCP users need tactical collateral planning due to Basel III capital squeeze
The increasing need for liquid, high grade assets under Basel III capital requirements will likely squeeze liquidity in the types of eligible collateral required by central counterparty (CCP) clearings, meaning end-users of CCPs need to tactically plan…
Foreign regulators leave US isolated on uncleared margin rules
Follow the leader?
Standard CSA: Industry's solution to novation bottleneck gets nearer
New CSA, new challenge
RBI’s revised securitisation guidelines could ‘kill’ Indian market
The latest Reserve Bank of India revised draft guidelines for securitised transactions released late September have drawn criticism from market participants for being far too restrictive, with one lawyer saying the rules in their current form would …
Margin models converge as CCPs battle for dealer support
Dealers say they won’t join clearing houses that are not robust – and have already blackballed one central counterparty. As a result, the initial margin methodologies employed by the big rates clearers have begun to converge. Matt Cameron reports
