The results of a joint survey by the International Association of Credit Portfolio Managers (IACPM), ISDA, the Risk Management Association (RMA) and McKinsey were released yesterday. The survey polled large numbers of global banks and insurance companies to see how credit portfolio management practices were affected during the current crisis.
Interestingly, as the FT reported yesterday, CDS volumes actually went up over last summer, but the survey highlights some divergent approaches to credit portfolio management. There was a significant split between those that believe they are well positioned to deal with future crises and those that do not (regular readers of this blog will now my opinion on this - the optimists are clearly kidding themselves). As the press release says "..fifty percent of survey respondents are concerned their institutions do not have systematic and rigorous analytical cycle management in place and many of these ... more »
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Thursday, April 17
Credit Portfolio Management Survey
by
Sean Sprackling
on Thu 17 Apr 2008 11:29 BST
ISDA Preliminary Margin Survey Results
by
Sean Sprackling
on Thu 17 Apr 2008 10:45 BST
Another release following their AGM...
“ISDA’s
2008 Margin Survey reflects continued importance of collateralization as a risk
mitigation tool and the effectiveness of collateral agreements,” said Robert
Pickel, Executive Director and Chief Executive Officer, ISDA. The 2008 Survey reports that collateral agreements in place grew to ... more »
Derivatives Post Trade Processing Continues to Improve
by
Sean Sprackling
on Thu 17 Apr 2008 10:38 BST
Press release from ISDA following their AGM
The initial results show that despite significant
growth in monthly volumes for most over-the-counter (OTC) derivative products,
post-trade processing has been able to keep pace and in many cases improve
over previous years, according to the survey. Monthly OTC derivative volumes grew by 38 percent
across all products, with credit derivatives showing the strongest growth
at 73 percent. Large firms experienced even greater increases, reporting 87
percent growth in credit derivative volumes. In the main asset classes, business days’ worth of outstanding confirmations is lowest for credit derivatives at 6.6 days, followed by interest rate products at 9.9 business days and 13.3 for equities. In interest rate ... more » Monday, April 14
UCITS IV in doubt
by
Sean Sprackling
on Mon 14 Apr 2008 21:40 BST
It may have been only a couple of weeks ago the the European Commission published an exposure draft outlining suggested improvements to the UCITS regulations, but news has started to emerge that the whole project may be in doubt.
A full draft detailing the proposals for improving efficiencies in the funds market was due to be published at the end of this month. It has now, however admitted that this deadline will be missed and (according to the FT) this "has raised the spectre of the project being abandoned". Oliver Drewes (his spokesman) was quoted as saying "Commissioner McCreevy is considering his options on the basis of the different arguments made at this stage". There were hopes that the delay would be temporary; however Drewes stressed that any revised timetable would "depend on the commissioner's conclusions as to what to do". It seems that there has been more contention around ... more » Wednesday, April 9
OTC Val and Valuelink announce OTC derivative pricing now available through Valuelink products
by
Sean Sprackling
on Wed 09 Apr 2008 09:42 BST
7 April 2008
OTC
Valuations (OTC Val) and ValueLink today announced that independent OTC
derivative pricing from OTC Val will be available to ValueLink clients
via their established delivery platforms.
Clients who currently receive dealer counterparty data for OTC derivatives via ValueLink products will now also be able to access independent valuations for these instruments generated by OTC Val. This is a significant extension of the current OTC data service provided by ValueLink, which has previously concentrated on counterparty pricing. Bob Sangha, Managing Director at OTC Val said “We are very excited to be working with ValueLink in providing an independent valuations solution for OTC derivatives. OTC derivative activity has exploded in recent years but the development of independent valuations of derivative positions has been slower to develop. OTC Valuations is a leading provider of independent valuations of derivatives and other complex financial products and provides a complement to, and ... more » |
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