ISDA declares Greek credit event, CDS payments triggered
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The Greek Debt Swap Is Just One More Step, Not the Solution - Brookings Institution
CNN Money
It's good news that the Greek debt swap appears to have worked from a technical standpoint, but the debt reduction is hardly the end of the troubles for Greece.
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Draghi Defends ECB Balance Sheet Expansion
WSJ.com
One thing we all know about Mario Draghi now: he reads the papers. The European Central Bank president used his monthly press conference to take issue with a recent Wall Street Journal article on the ECB’s balance sheet now exceeding three trillion euros after it pumped a total of one trillion euros in three-year loans into European banks.
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Japan’s ‘competitive QE’ won’t work: Deutsche Bank
MarketWatch
The Bank of Japan surprised markets Tuesday by announcing it would buy another 10-trillion yen in bonds, pushing the yen to its lowest rate against the dollar since December.
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Treasury winds down stake in AIG
Futures
The U.S. Treasury Department is selling 206.9 million AIG shares for $29 apiece as it looks to wind down bailout programs from the 2008 financial crisis. In a statement released Thursday, the Treasury said it expects to earn about $6 billion from the sale and that AIG had agreed to buy roughly half of the offering.
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JPMorgan backs global clearing house for derivatives market
AUSTRALIA should allow a global clearing house to handle the country's $78 trillion over-the-counter derivative market but keep a grip on regulatory oversight, according to a senior executive at JPMorgan.
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Goldman's Promised Land
Thomson Reuters
Some 2,000 miles away from the hustle and bustle of Wall Street, Goldman Sachs Group Inc. has found an unlikely second home: Mormon country.
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India's Central Bank Cuts Reserve Requirements for Banks
The New York Times
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RBI cuts reserve ratio to improve lending conditions
In a move meant to alleviate growing stress in its financial system, India’s central bank on Friday sharply reduced the amount of money banks have to hold in reserve less than a week ahead of a scheduled policy meeting.
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'Gray Market' Crops Up for New Issue of Greek Bonds
WSJ.com
Greece will give new bonds to private creditors under its proposed debt restructuring in exchange for old bonds. And while the new bonds don't exist yet, that hasn't stopped at least two dealers from trying to make a market in them.
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Sarkozy says Greek problem solved
Chicago Tribune
French President Nicolas Sarkozy said on Friday that Greece's debt crisis had been solved after Athens won strong acceptance from private creditors for a bond swap deal.
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TEXT: Fitch cuts Greece's issuer default ratings to 'RD'
Reuters
Fitch Ratings has downgraded Greece's Long-term foreign and local currency Issuer Default Ratings (IDRs) to 'RD' ('Restricted Default') from 'C' following today's confirmation from the Greek government and eurozone officials that the exchange of Greek government bonds will proceed.
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FRB: 2011 Chief FOIA Officer Report
Federal Reserve Report
The Secretary of the Board of Governors of the Federal Reserve System (Board) and Chief FOIA Officer, Jennifer J. Johnson, hereby submits the Chief FOIA Officer Report on behalf of the Board in accordance with the template provided by the Department of Justice
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Gross Says Bond Contract Sanctity Diminished
Bloomberg
The “sanctity” of bondholders’ contracts has been diminished by Greece’s pushing through the biggest sovereign restructuring in history, according to Bill Gross of Pacific Investment Management Co.
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MF Global Still Set to Pay Bonuses
WSJ.com
Three top executives of MF Global Holdings Ltd. when it collapsed could get bonuses of as much as several hundred thousand dollars each under a plan by a trustee overseeing the securities firm's bankruptcy case, people familiar with the matter said.
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FOWi reveals 52% of new contracts fail to trade
FOWi
One in two new contracts launched on derivatives exchange last yera have failed to trade, a new report by FOW Intelligence has found.
http://jlne.ws/zhfRBp
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