Derivatives - All Articles

  • S&P Forecasts Weaker Card Performance

    Credit card delinquencies in trusts for the so-called “Big Six” credit card securities issuing banks fell in December to 2.24%, a low that may herald a slight increase in 2013, according to analysts at Standard & Poor’s.

    • 31 Jan 2013
  • Market Activity Slowed By Confab

    The muted primary activity market players have been predicting settled in this week with much of the industry’s attention turned to the American Securitization Forum’s conference in Las Vegas.

    • 31 Jan 2013
  • Half Of Investors Unhappy With SF Data Management

    Half of securitization investors say their operational systems are less than effective at consistently managing the increasing volume of data related to their investments in asset- and mortgage-backed securities, as well as collateralized debt obligations, according to software developer Principia. Principia also reported that 90% of respondents say it

    • 31 Jan 2013
  • U.S. CMBS Delinquencies At 11-Month Low

    The delinquency rate for loans in U.S. commercial mortgage-backed securities dropped 14 basis points to 9.57%, its lowest level since last February, when it stood at 9.38%, according to Trepp.

    • 31 Jan 2013
  • Ocwen Leading In Bid For Ally Mortgage-Servicing Rights

    Ocwen Financial is said to be in the lead to acquire $122 billion of mortgage-servicing rights from Ally Bank in a deal valued at roughly $1 billion.

    • 31 Jan 2013
  • UBS, GS Sued Over RMBS By Israeli Bank

    Israel’s Bank Hapoalim has filed a lawsuit against UBS and Goldman Sachs, charging the banks with making false representations about the quality of the loans in some $220 million in residential mortgage-backed securities.

    • 31 Jan 2013
  • Disclosure Of Loan Mod Terms Improving

    There has been a marked improvement of special servicers’ disclosure of loan modification terms, according to Fitch Ratings.

    • 31 Jan 2013
  • Ex-Countrywide Bigwig Added To B Of A Subprime Suit

    The federal government has amended its complaint against Bank of America and its Countrywide unit alleging subprime mortgage fraud, adding Rebecca Mairone, Countrywide’s former coo, to the lawsuit.

    • 31 Jan 2013
  • More Than 90% Of IR Swaps Mis-Sold, Says FSA

    The U.K. Financial Services Authority says more than 90% of the interest rate swaps sold by big banks to small businesses did not comply with at least one or more regulatory requirements.

    • 31 Jan 2013
  • E.U. Lawmakers Warned Not To Vote Down Regs

    Michel Barnier, the European Union’s commissioner of internal markers, has written a letter to European lawmakers warning them not to vote down proposed derivatives regulations.

    • 31 Jan 2013
  • Big Banks May Pay GBP5 Bln Over IR Swaps

    Barclays, HSBC, Lloyds and the Royal Bank of Scotland may pay up to GBP5 billion (USD7.94 billion) to compensate small businesses that claim losses from interest-rate swaps mis-sold to them by the banks, according to analysts.

    • 31 Jan 2013
  • First S. African Bank Clears OTC Through LCH

    The corporate and investment banking unit of Apsa Bank has become the first local South African bank to clear derivatives through a central clearing counterparty, LCH. Clearnet.

    • 31 Jan 2013
  • CFTC To Study Swaps-To-Futures Shift

    The U.S. Commodity Futures Trading Commission will focus on the shift from swaps to futures as exchanges have set “extremely low threshold sizes for block trades in the futures contracts,” according to Scott O’Malia, a Republican member of the CFTC in a speech.

    • 31 Jan 2013
  • Canadian Bank Sells S&P-Linked Structured Note

    The Canadian Imperial Bank of Commerce has sold USD3.25 million for an 18-month structured note linked to the S&P 500, its first such offering in the U.S. in nearly nine years.

    • 31 Jan 2013
  • Canadian Bank Sells S&P-Linked Structured Note

    The Canadian Imperial Bank of Commerce has sold USD3.25 million for an 18-month structured note linked to the S&P 500, its first such offering in the U.S. in nearly nine years.

    • 31 Jan 2013
  • Widening iTraxx Opens Risk Reversal Opportunity

    The recent widening of the iTraxx Main has opened up the opportunity to take a bullish position on the index by selling a risk reversal.

    • 31 Jan 2013
  • No Blue Granite Ratings Impact From Account, Counterparty Tweaks

    Four deals under Standard Bank of South Africa’s Blue Granite Investments residential mortgage-backed securities program will not see their ratings affected by recent changes to the account bank and swap counterparty ratings triggers, Moody’s Investors Service analysts said.

    • 31 Jan 2013
  • U.K. Non-Conf RMBS Drives Tight In Secondaries

    Surging bids on U.K. non-conforming residential mortgage-backed securities are raising eyebrows in the secondary markets, according to London-based bankers on the frontline.

    • 31 Jan 2013
  • Q&A: UBS’ Andrew Kaufmann

    Investors are moving away from three-to-five year 100% principal protected trades, and shifting into shorter tenors with less protection due to changes in interest rates, Andrew Kaufmann, global head of fx structuring at UBS in London, told DI in an interview.

    • 31 Jan 2013
  • Irish Banking Group Launches Borrower Initiative

    The Irish Banking Federation has launched an initiative to help distressed borrowers remain in their homes.

    • 31 Jan 2013