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December 10, 2012
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Daily coverage for the global derivatives industry

  Top Stories 
  • Basel liquidity rule could be relaxed to help global recovery
    Global bank regulators are expected to wrestle this week with the question of whether to water down a liquidity rule that has been criticized as a potential obstacle to economic recovery. European Central Bank President Mario Draghi has warned that the liquidity coverage ratio could restrict interbank lending. Bloomberg Businessweek (12/9) LinkedInFacebookTwitterEmail this Story
  • BIS cautions over rising assets when outlook is less than rosy
    Noting the glow on markets worldwide even as the economic outlook darkens, the Bank for International Settlements is raising the possibility that asset prices may once again be overinflated. Market gains also appear to defy recent profit warnings in the U.S. and Europe. "Unusually, equity and fixed income gains coincided with a weakening of the global economic outlook. In the past, falling growth forecasts have usually been associated with rising expected default rates and higher bond yields," the BIS said in its quarterly report. The Telegraph (London) (tiered subscription model) (12/9) LinkedInFacebookTwitterEmail this Story
  Industry News and Trends 
  • Banks keep a close watch on shift from swaps to futures
    Banks are observing as investors shift away from swaps and toward futures contracts to see how it affects the market. Philip Obazee of Delaware Investments says CME's Group's launch of a futures product that promises to serve the function of a swap but at lower cost is an encouraging development. Reuters (12/10) LinkedInFacebookTwitterEmail this Story
  • Commentary: Policymakers should pay more attention to leverage
    Efforts to manage the economy should incorporate leverage, rather than just looking at interest rates, according to theoretical physicist Mark Buchanan. "We've understood the benefits and potential dangers of leverage for a long time," he writes. "Now we need to start measuring it." Bloomberg (12/9) LinkedInFacebookTwitterEmail this Story
  Regulatory Roundup 
  • FDIC, BoE offer joint plan for "too big to fail" banks
    For the first time, U.S. and British regulators have made public their common view of how to cope with financial institutions considered "too big to fail." The Federal Deposit Insurance Corp. and the Bank of England discussed the problem in a joint paper. "We believe that, for many [global systemically important financial institutions], this strategy holds the best possibility of preserving stability while removing taxpayer support," Martin Gruenberg, chairman of the FDIC, and Paul Tucker, deputy governor for financial stability for the Bank of England, write in the Financial Times. "It holds shareholders, creditors and management in a failed GSifi accountable for its losses." The Telegraph (London) (tiered subscription model) (12/10), Financial Times (tiered subscription model) (12/10) LinkedInFacebookTwitterEmail this Story
 
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