Financial Regulatory Forum

Banks to submit 95 pct of eligible CDS for clearing

September 2, 2009

ice   By Karen Brettell
   NEW YORK, Sept 1 (Reuters) – Large derivatives dealers will agree to submit 95 percent of eligible credit derivative trades to central clearinghouses beginning in October, according to a person familiar with a letter they will send the New York Federal Reserve Bank on Tuesday night or on Wednesday.

Thomson SA to test new Europe CDS settlement rules

August 14, 2009

thomson-logo   By Natalie Harrison
   LONDON, Aug 13 (Reuters) – A credit event at France’s Thomson SA, the first to feature in a current benchmark European credit default swap index, will test the market’s ability to cope with complex new auction rules to settle CDS.

White House divides CDS regulatory jurisdiction

August 12, 2009

seccftc   By Charles Abbott and Rachelle Younglai
   WASHINGTON, Aug 11 (Reuters) – The Obama administration’s plan to regulate the $450 trillion private swaps market would give the two main market regulators a share of the duties by splitting oversight of credit default swaps, which were responsible for exacerbating the financial crisis.

U.S. finance reform bill may ban ‘naked’ credit default swaps

July 21, 2009

U.S. Rep. Collin Peterson WASHINGTON, July 21 (Reuters) – An omnibus financial reform bill in the U.S. House of Representatives would require that over-the-counter derivatives go through clearinghouses and probably ban “naked” credit default swaps, the chairman of the House Agriculture Committee said on Tuesday. (more…)