Spain, Italy Extend Bans on Shorting Bank Shares
By Ben Moshinsky, Bloomberg
Italian and Spanish financial market regulators extended temporary bans on short selling of financial shares that were introduced last month in a bid to stem market volatility.
http://jlne.ws/r5KcTm
SIFMA Statement on Revised Proposals for Market-Wide Circuit Breaker Rules
Washington, DC, September 28, 2011—SIFMA today released the following statement from Randy Snook, executive vice president, after FINRA and the exchanges released new proposed rules outlining the operation of market-wide circuit breakers, which have been in development over the past year in response to the May 6, 2010 Flash Crash.
http://jlne.ws/phd2jH
UBS chairman comes under attack
By Haig Simonian, FT.com
http://jlne.ws/mScXdI
Minneapolis Fed: The Generation Gap
Recessions hurt the old most and young least, with impact determined by asset
sales of middle-aged.
http://jlne.ws/pM6Mgi
NFA Signs Agreement With GFI Group To Provide Regulatory Services To GFI's Swap Execution Facility
Press Release
September 28, 2011, Chicago and New York - National Futures Association (NFA) and GFI Group Inc. (GFI) today announced that they have entered into an agreement that paves the way for NFA to perform regulatory services for GFI's swap execution facility (SEF).
http://jlne.ws/oJaNX5
Barclays loses head of European retail banking
By Sharlene Goff, FT.com
http://jlne.ws/oUK7v4
Project Islamic Bonds give hope to Saudi market
By Jonathan Terry, Bikyamasr
Saudi Arabia is hopeful that Project Islamic bonds will increase with the launch of the first project this month. Issuers are looking to the launch of the sukuk as a means to diversify funding sources as global financial difficulties continue to cause problems for leading international banks.
http://jlne.ws/o0130m
Merkel hedges bets on Greece as euro pressure builds
By Stephen Brown and Madeline Chambers, Reuters
Angela Merkel worked to defuse revolt within her government on Wednesday, soothing fears Germany may be throwing good money after bad in Greece but acknowledging the concerns of those ready to humiliate her in a parliamentary vote.
http://jlne.ws/pceuJF
Credit-Swap Dealers May Hold Onto Risk for Weeks, Fed Study Says
By Matthew Leising
Credit-default swap dealers often hold onto risk from big trades for longer than many investors previously thought, which may complicate the task for regulators trying to impose new reporting rules in the vast, opaque derivatives market, a report shows.
http://jlne.ws/rjy7u8
NY Fed Study Finds Low CDS Trade Frequency
By Katy Burne Of DOW JONES NEWSWIRES
Trading in the credit derivatives market is less active than most liquid financial markets, suggesting dealers play a pivotal role in juicing flows, but the off-exchange contracts are mostly standardized, often resembling listed trades, according to a report released Tuesday by the Federal Reserve Bank of New York.
http://jlne.ws/nTNBnb
ISDA Pushes For Single Counterparty Exposure Repository
By Katy Burne Of DOW JONES NEWSWIRES
The International Swaps and Derivatives Association reiterated its call Monday for a single swaps data repository showing counterparty exposures, saying it could provide "an aggregated risk view for regulators." The idea was first put forward by the trade association earlier this month at its North American annual conference in New York.
http://jlne.ws/noTvUc
First Portuguese bank becomes a member of Eurex Repo
Press Release
Eurex: Eurex Repo, the leading marketplace for international, electronic repo trading and secured funding, today announced its further expansion in Europe. Banco de Investimento Global is its first Portuguese member. The bank has entered its first transactions via the Euro Repo and the GC Pooling markets. With this new customer, the total number of Euro Repo participants has risen to 87, thereof 74 use the GC Pooling market. Eurex Repo members are based in eleven countries, among them Germany, France, Great Britain, Netherlands, Spain, and – since this week – in Portugal.
http://jlne.ws/p5N1Gm
Russia's Federal Financial Markets Service Holds A Meeting With Financial Market Players And CBR Representatives
Press Release
On September 26, 2011 Mr Dmitry Pankin, Head of the Federal Financial Markets Service, held a meeting with participants of the financial market and representatives of the Central Bank of Russia to discuss operation of the Russian financial market in a highly volatile environment.
http://jlne.ws/n9q4tR
A $50 Billion Claim of Havoc Looms for Bank of America
By STEVEN M. DAVIDOFF, NY Times
Bank of America’s potential liability for bad mortgages — in the tens of billions of dollars — is well known. But Bank of America is haunted by other demons from the financial crisis, the most significant one being a lawsuit arising from its troubled Merrill Lynch acquisition.
http://jlne.ws/nXHMZx
Darnell Tells Merrill's Brokers He'll Stay Out of Their Way
BusinessWeek
Bank of America Corp.'s David Darnell, the commercial banker put in charge of the lender's Merrill Lynch brokerage, promised employees he'll do anything including "get out of the way" to help them improve results.
http://jlne.ws/owMpCe
Morgan Stanley Division Reaches Settlement With Nevada Attorney General
Las Vegas Review-Journal
A division of investment banker Morgan Stanley on Tuesday agreed to a settlement with the state attorney general that would end an investigation into the firm's alleged deceptive mortgage lending and securitization practices in Nevada. Morgan Stanley Mortgage
http://jlne.ws/qncd83
KKR's Kravis Says Credit Markets Making Buyouts More Expensive
BusinessWeek
Henry Kravis, co-founder of KKR & Co., said private-equity deals are becoming more expensive as the reluctance of banks and investors to lend drives up borrowing costs.
http://jlne.ws/qpqciQ
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