CME Group Collateral Haircuts
As per the normal review of market volatility to ensure adequate collateral coverage, CME Clearing will implement the following collateral haircuts effective with the close of business on Thursday, July 28, 2011.
Asset class: TBILL Current haircut: 0.0% New haircut: 0.5% ...
http://jlne.ws/ovU2XH
U.S. default could spark CDS confusion
http://jlne.ws/ozP338
Tradeweb Launches Electronic European Repo Marketplace
PR Newswire
Tradeweb Markets LLC, a leader in building and operating financial markets, today announced the launch of a European repo marketplace. The electronic dealer-to-customer platform mirrors the existing voice and message-based trading process, while enabling efficient trade execution and substantially simplifying the post-trade complexities of collateral assignment and allocation.
http://jlne.ws/oaxxuO
Deutsche Names Two as Co-CEOs
German Bank Will Pair Indian-Born Jain With German Head Fitschen; Ackermann Moves to Board
BY LAURA STEVENS - WSJ
Straddling its twin roles as a global investment-banking powerhouse and huge German lender, Deutsche Bank AG on Monday resolved months of indecision over its leadership by appointing two top executives to succeed CEO Josef Ackermann.
http://jlne.ws/njOqpt
Infographic on Dodd-Frank
Clarke Camper - Inside the Beltway
In the Atlantic, I just came across this chart by Deloitte that provides a fascinating visual representation of progress in implementing Dodd-Frank: Chart of the Day: The Sluggishness of Financial Regulation.
http://jlne.ws/q70qOd
Soros Returns Client Money to End Four-Decade Hedge-Fund Career
By Katherine Burton, Bloomberg
George Soros, the billionaire best known for breaking the Bank of England, is returning money to outside investors in his $25.5 billion firm, ending a career as hedge-fund manager that spanned more than four decades.
http://jlne.ws/p82XB9
Moody’s Sees Benefits for Banks From Consumer Bureau
By BEN PROTESS, NY Times
The new Consumer Financial Protection Bureau has ignited fear on Wall Street. But many banks may eventually benefit from the regulator’s careful watch, according to a new report by Moody’s Investors Service.
http://jlne.ws/oniyVd
Treasury May Have 3 Days To Fix A Default Before CDS Trigger
By Katy Burne Of DOW JONES NEWSWIRES
If the U.S. fails to raise its borrowing limit by Aug. 2, when the Treasury Department says it will exhaust its supply of tricks to avoid defaulting on federal debts, it may take a few days for the full shock wave to hit the credit-derivatives market.
http://jlne.ws/nua9aX
Debt Drama Blocks Out Big Picture on Credit
By ANDREW ROSS SORKIN, NY Times
As Washington continues to debate a debt deal, the Obama administration has been preparing the country for the worst, with officials essentially saying the sky is about to fall. But so far, oddly enough, nothing has happened. Despite warnings that a deal would need to be brokered by Sunday night before the Asian markets opened, stocks merely stumbled on Monday — the type of weakness usually associated with soft corporate earnings instead of an economic apocalypse.
http://jlne.ws/oi5jSU
In Greek Debt Deal, Clear Benefits for the Banks
By JACK EWING, Financial Times
Europe's latest plan to prop up Greece looks suspiciously like a plan to bolster European banks. By agreeing to contribute a relatively modest amount to the rescue, the banking industry is getting something more valuable in return, analysts say. The industry is unloading much of its Greek risk onto the European Union and helping to quash fears that the sovereign debt crisis could become a second financial crisis.
http://jlne.ws/nXngLj
UBS to cut costs and rethink fixed income unit
Reuters
Switzerland's UBS will slash jobs and review the future of its fixed income business after the underperforming unit hit second-quarter profits and forced it to push back targets.
http://jlne.ws/r0h71E
U.S. Regulators Seek Public Input for a Joint CFTC-SEC Study on International Swap Regulation
Press Release
The Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) have approved for publication in the Federal Register a request for comment that is expected to assist in conducting a joint study on international swap regulation.
http://jlne.ws/ngnKPN
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