Credit Default Swap (CDS)
Reserve managers must reconsider strategies: CentralBanking.com panel
Central bank reserve managers must think about diversification to better prepare for future crises, panellists say
CDS trading raises probability of default: NY Fed paper
New York Federal Reserve study examines probability of default at companies trading credit default swaps
Worry about Greek CDS misguided, dealers suggest
Dealers believe fears about Greek sovereign CDS trigger event are overplayed
Greek reprofiling risks spreading contagion: Buba’s Weidmann
Bundesbank president Jens Weidmann says restructuring of Greece’s bonds would make it “impossible” to accept its debt as collateral at European Central Bank
Greece programme not working: IMF
IMF mission to Greece urges sovereign to undertake further budgetary measures; European official hints at soft restructuring
Wellink clarifies position on Greece restructuring
Media reports suggest Netherlands Bank president Nout Wellink is open to a debt restructuring for Greece; central bank spokesperson denies suggestions, says president’s views remain in line with European Central Bank
Greece deficit revision sparks default concerns from analysts
Eurostat revises Greece’s deficit to GDP upwards by almost a percentage point; analysts reiterate need for Greece to restructure debt
Standard & Poor's changes US outlook to negative
Ratings agency cites growing deficit and debt as rationale behind the change
Non-US sovereigns should collateralise swaps, say US bank regulators
Progress towards sovereign collateral posting has been slow. Now, US regulators are proposing to make it mandatory - for all non-US entities
IMF paper explores measures of default probability
Fund paper investigates methods to measure market price of risk and probability of default
Portuguese CDS spreads climb after austerity measures voted down
The EU prepares itself for another sovereign bail-out after Portuguese parliament rejects tax rises and budget cuts
IMF uneasy on nagging weakness of eurozone’s banks
Fund’s Global Financial Stability Report and World Economic Outlook updates show concern over insufficiency of eurozone stress tests, links between banking and sovereign risks
New highs for CDS spreads on Ireland and Belgium
The cost of insuring against Irish and Belgian state defaults reaches unprecedented levels
Haircut fears push up bank CDS prices
Spreads on the credit index for senior European financials widen as EU releases burden-sharing consultation paper
CDSs did not hike eurozone states' funding costs: European Commission report
European Commission taskforce finds credit default swaps were not responsible for inflating eurozone members' funding costs, worsening crisis
BIS: access to CDS markets reduces debt financing in Asia
Bank for International Settlements study shows credit default swap trading lowers bond issuance costs
Market for CoCos could take years to develop, say Credit Institute panellists
Regulators may be sold on banks issuing loss-absorbing contingent convertible securities, but panellists at Credit Institute event question whether natural investor base for instruments exists
Periphery CDSs break records as sovereign fears continue
Portugal might be next peripheral to seek help, economist warns, as its CDS hits record high.
Irish bonds sixth riskiest: report
Credit default swap spreads on Irish bonds spike more than any other in third quarter; Portugal also among ten riskiest sovereign issuers
No easy alternatives to credit ratings
US regulators are right to look to curb their reliance on credit ratings. However, it will prove tricky to find viable alternatives
Investors demand premium for Portuguese debt
Auction results show rising cost of Portuguese debt, analysts say investors are sending message to government to tackle deficit
Ireland’s debt costs soar
Auction results show demand for Irish debt remains strong, but analysts fear higher financing costs are unsustainable
Argentina dips into central bank profit to finance expenditure
Central Bank of Argentina transfers $760m from last year’s profits to government to find expenditure; government unwilling to tap bond markets until yields come down sufficiently
Eurozone banks tighten standards as loan demand grows
European Central Bank’s second quarter lending survey shows banks toughening standards for borrowers, reflecting unease from sovereign debt crisis spillover; demand, meanwhile, increases