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February 5, 2013
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News on the capital markets, securities and financial industry

  Morning Bell 
How Much Do You Really Need to Make? The Answer May Shock You
Rather than focus on what you can afford to pull out of the business to cover your living expenses, you need to focus on how much you need to earn at your business in order to afford the lifestyle you want to have. This is where the Personal Earnings Goal, or PEG, comes into play. Learn how to calculate your PEG and find out how much you really need to make.

  Industry News 
 
  • Investors are heartened by rising bond yields
    Corporate-pension executives and other institutional investors are welcoming an increase in corporate-bond and U.S. Treasury yields, which is coming sooner than expected. If yields keep rising, the trend will open the door to more corporate defined-benefit plans, reducing long-term obligations through lump-sum distributions or the purchase of group-annuity contracts to transfer pension risk, experts say. Pensions & Investments (free registration) (2/4) LinkedInFacebookTwitterEmail this Story
  • FSB brings confusion with stance on FX derivatives margin
    The Basel Committee on Banking Supervision and the Committee on Payment and Settlement Systems need to focus on foreign exchange derivatives and "set out strong provisions on variation margin," the Financial Stability Board says. But the request seems to run counter to the Working Group on Margining Requirements, which has delayed issuing guidelines, partly because of questions about whether they would be appropriate for forex swaps. The working group is run by the Basel Committee and the International Organization of Securities Commissions. Risk.net (subscription required) (2/4) LinkedInFacebookTwitterEmail this Story
  • Analysis: Companies increasingly prefer private funding
    Daniel Gorfine and Ben Miller write that companies are abandoning the world of public debt and equity, and turning instead to private issuance, which rose 31% between 2009 and 2010. Volatility and extreme regulation make the markets less appealing than the newly streamlined private capital markets, they write. The Wall Street Journal (2/4) LinkedInFacebookTwitterEmail this Story
Transformational Journeys: Modern Business Planning
Harvard Business Review explores why CFO's and their finance organizations must adapt to the changing landscape of their markets and how big data, organizational collaboration, and new cloud-based planning and analysis technologies are driving successful change.
Click here to access the report.

  Washington Roundup 
 
  • Continuing success of FSOC depends on new Treasury secretary
    As Treasury secretary, Timothy Geithner made the Financial Stability Oversight Council a priority, but it remains to be seen whether Jack Lew, President Barack Obama's nominee to succeed Geithner, will be as dedicated to making the council work. "It is very much an open question of how attentive he will be with FSOC, whether he will delegate a greater responsibility to his staff or to the deputy Treasury secretary," said Satish Kini, co-chair of Debevoise & Plimpton. "I think we will probably see Secretary Lew less involved in some of the details it appears that Secretary Geithner was." AmericanBanker.com (free registration) (2/4) LinkedInFacebookTwitterEmail this Story
  • Conflicts of interest at the top stymie SEC prosecution
    For the Securities and Exchange Commission to prosecute a case, three out of five commissioners must agree. But, as more commissioners recuse themselves from cases, those votes get harder to come by. Analysts say that cases involving more than 20 companies affect at least one commissioner, and that number is set to rise as the Dodd-Frank Act increases the SEC's regulatory scope. The Wall Street Journal (2/4)
How SDN Makes Campus Networks Better
When should agencies adopt SDN? IDC reports that SDN provides immediate benefits for government campus networks, including modernized IT infrastructures that are more agile, cost-effective, and collaborative.
Read this new IDC paper to learn more.

  Operations Update 
  • Analysis: Cyberattacks on banks require more attention
    Regulators are giving more attention to cyberattacks on financial institutions, but not enough is being done when the potential for crippling a national economy is considered, according to The Economist. "At the moment banks have little incentive to share information on attacks and vulnerabilities with regulators or competitors," the magazine notes. "Supervisors also appear to be unwilling to talk publicly about their concerns or about investigations into lapses by banks." Registration is now open for SIFMA Tech 2013 on June 18-19 in New York City. The Economist (tiered subscription model) (2/2)
  Asset/Wealth Management Report 
  SIFMA News 
  • AMF Workshop -- Innovation in Asset Management Operations -- TOMORROW -- NYC
    There is still time to register for this AMF Workshop. Innovation is critical in today's fast-paced business environment. Register to learn how each of us can individually contribute to our own personal growth and development, and how we can be innovative leaders for the buy-side industry. This Asset Managers Forum Workshop is designed especially for operations professionals and will feature panel and roundtable discussions on: Operational Game Changers, The Future Landscape of Asset Management Operations, Central Clearing of Derivatives and more. Also join us Wednesday, Feb. 7 for our next AMF Member Meeting -- free for members! LinkedInFacebookTwitterEmail this Story
  • Latest SIFMA Research: U.S. Government Forecast 2013 Q1
    SIFMA Research released the U.S. Government Forecast 2013 Q1, a survey of SIFMA's Primary Dealers and Government Securities Research and Strategist Committees concerning U.S. government issuance and rates forecasts. The survey is intended to provide market participants with the current consensus expectations and median forecasts of many of the primary dealers and other firms active in the U.S. government and agency securities markets. SIFMA Research reports include regular outlooks and forecasts, research quarterlies, and essential industry factbooks and yearbooks. LinkedInFacebookTwitterEmail this Story
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  SmartQuote 
Failure changes for the better, success for the worse."
--Seneca the Younger,
Roman philosopher, statesman and playwright


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