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  • More flex likely on IM as CFTC committee votes for new waiver

    More flex likely on IM as CFTC committee votes for new waiver

    The US Commodity Futures Trading Commission’s global markets advisory committee, a steering group made up of market participants, has recommended that the regulator provide a further six month grace period for compliance with initial margin requirements.

  • Levfin losses and deriv hedges weigh on Credit Suisse

    Levfin losses and deriv hedges weigh on Credit Suisse

    Credit Suisse took a $294m hit from marking leveraged finance underwriting exposure to market in the first quarter, its results on Thursday showed, as March’s volatility and jump in credit spreads took their toll.

  • UBS makes Mahony corp DCM head

    UBS makes Mahony corp DCM head

    UBS has made Paul Mahony head of corporate debt capital markets and derivatives for Europe, the Middle East and Africa, following on from Barry Donlon’s appointment as head of DCM for the region.

  • Flickers of trading in SRT market as credit funds seek cash

    Flickers of trading in SRT market as credit funds seek cash

    Synthetic risk transfer deals from Deutsche Bank, Santander and Standard Chartered have been seen changing hands, as certain credit funds look to free up cash by selling assets that have drastically outperformed equity and junior debt in leveraged loan CLOs. Risk transfer deals are often bilateral and privately negotiated, with little or no public reporting, and usually held to maturity by the specialist funds that buy them.

  • NatWest Markets pushes ahead with job cuts

    NatWest Markets pushes ahead with job cuts

    Royal Bank of Scotland is pushing ahead with job cuts in its investment banking division, bucking a trend by big banks to delay restructuring plans and cost-cutting during the coronavirus crisis.

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