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08 October 2012
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News on the global financial markets

  Morning Bell 
  • Settlement could set pattern for Lehman clients
    In a deal that could lead to 100% recovery of property for clients, the estate of Lehman Brothers Holdings settled $38 billion in claims with a London affiliate. "The agreement resolves tens of billions in claims from [Lehman Brothers Inc's] largest single customer claimant and will allow for customer and creditor distributions much sooner than if [Lehman Brothers International Europe's] claims involving hundreds of thousands of transactions were litigated," brokerage trustee James Giddens said. Financial Times (tiered subscription model) (05 Oct.), Bloomberg Businessweek (06 Oct.), Reuters (05 Oct.) LinkedInFacebookTwitterEmail this Story
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  Industry News 
  • Analysis: European banks face ongoing challenges
    The European banking system has made progress in recent months, but ongoing challenges are holding many lenders back. One of the biggest issues: performing loans that have ceased to be profitable. As funding costs surge and banks are subject to tougher capital rules, many loans no longer deliver adequate returns, according to this analysis. The Wall Street Journal (07 Oct.) LinkedInFacebookTwitterEmail this Story
  Regulatory Roundup 
  • EU insurance regulator sees danger in delayed Solvency II
    Tangled talks among the European Commission, the European Parliament and EU governments are holding up risk-capital rules for insurers, the European Insurance and Occupational Pensions Authority said. The delay means outdated rules remain in place, Chairman Gabriel Bernardino said in a letter to EU Internal Market Commissioner Michel Barnier. Reuters (05 Oct.) LinkedInFacebookTwitterEmail this Story
  • EU panel contemplates prison time for rate manipulation
    A prison term would be one possibility for anyone found guilty of manipulating benchmark interest rates under a measure expected to receive approval from the European Parliament's Economic and Monetary Affairs Committee. Sovereignty issues, however, could block ultimate passage. Reuters (05 Oct.) LinkedInFacebookTwitterEmail this Story
  • Players in fund industry caution about reviewing UCITS
    The fund industry is increasingly concerned that the European Commission will subject Undertakings for Collective Investment in Transferable Securities assets to stricter rules, which could boost risk and strangle innovation. Financial Times (tiered subscription model) (07 Oct.) LinkedInFacebookTwitterEmail this Story
  • Other News
  Spotlight on China 
  • China Investment chief says complexity impedes regulators
    Financial complexity is one problem in trying to regulate markets, said Gao Xiqing, president of sovereign-wealth fund China Investment. "As a former regulator, I think we do need to slow down a little bit instead of rushing up to all those fancy derivatives," Gao said. Bloomberg (05 Oct.) LinkedInFacebookTwitterEmail this Story
  AFME News 
  • Mahmood Pradhan, IMF's mission chief for euro area, will deliver keynote address at AFME 7th Annual European Government Bond Conference -- 8 and 9 November in Brussels
    The European Government Bond Conference is the ONLY conference of its type, bringing together annually the whole community from the European sovereign-debt market. Participants include key senior representatives from all EU treasuries, central banks, regulators, investors and heads of government-bond trading at pan-European and US banks. Renowned for featuring high-profile speakers and a "by the industry for the industry" programme, the conference is a must-attend event for stakeholders in the government-bond market. Featuring interactive round tables to create informative and frank debate, the conference is an unrivalled opportunity to gather valuable information about what the market really thinks.

    Key topics to be discussed:
    • The Future of the Eurozone
    • Liquidity Provisions: The Market Maker Model Under Fire?
    • Credit Risk: Analysing and Hedging Sovereign Risk
    • Investor Trends: Developments in Liquidity and Portfolio Management
    • Past and Future of Eurozone Common Funding

    View the full programme and register. LinkedInFacebookTwitterEmail this Story
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The day the child realises that all adults are imperfect, he becomes an adolescent; the day he forgives them, he becomes an adult; the day he forgives himself, he becomes wise."
--Alden Nowlan,
Canadian poet, novelist and playwright

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