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Buy Roche new issue, says UniCredit
15 years ago
UniCredit's relative value trade idea today recommends a cash bond trade on healthcare company Roche, buying the newly issued ROSW March 2013 bond at +168/163 basis points. -
Julius Finance releases white paper on CSO valuation for accounting purposes
15 years ago
Julius Finance last week released a white paper discussing the application of the FAS 157 accounting standard to tranches of synthetic credit default baskets -
Bank spreads rally but market widens on government bailout
15 years ago
Credit spreads in the three UK banks benefitting from a £50 billion government bailout all rallied substantially today, following confirmation of the action and news that £25 billion would be made available immediately -
Lehman leads pack of widening financials
15 years ago
Lehman CDS extends 45bp on the session. -
FSA fines Credit Suisse
15 years ago
The FSA has announced that it has fined the UK operations of Credit Suisse £5.6 million ($10.5 million) over pricing errors in its structured credit business -
Credit Suisse set to pay FSA fine over structured credit discrepancies, says FT
15 years ago
The Financial Times reports that Credit Suisse is close to agreeing a £5 million ($9.5 million) settlement with the Financial Services Authority over lapses in its systems -
Manager wins investment grade corporate pension mandate
15 years ago
BlueBay Asset Management has announced that it has been appointed to manage a £45 million ($87 million) European investment grade corporate bond mandate -
UK bank reports £1.1 billion of new write-downs
15 years ago
Barclays Capital made a pre-tax profit of £524 million for the first six months of 2008 – down 68% on the first half of last year -
HBOS wider but other financials in play
15 years ago
Deutsche Bank cited among CDS plays. -
Invensys gaps wider as credit line keeps CDS in play
15 years ago
Credit default swaps in Invensys gapped wider moras much as 60bp today to 160/190bp levels after the engineering firm agreed a £400 million credit facility for new acquisitions -
ICG posts £230 million profit but notes credit fund mark-to-market fall
16 years ago
Intermediate Capital Group has released end-of-year figures showing the fund/CDO manager and specialist provider of mezzanine finance made pre-tax profits of £230 million in the 12 months to 31 March – up from £224 million (or 2%) in the previous year -
Monolines move out amid new FASB statement
16 years ago
Ambac says FAS 163 is consistent with its current loss recognition methodology. -
New FASB statement calls for more bond insurer disclosures
16 years ago
New statement amends previous statements. -
Barcap returns Q1 profit despite £1 billion new credit write-downs
16 years ago
Barclays today issued an interim statement revealing just over £1 billion additional credit-related write-downs at Barclays Capital in the first quarter -
Banks set to sell Alliance Boots hung loan, reports Financial Times
16 years ago
The Financial Times reports that banks are poised to agree a plan to sell much of the £9 billion ($17.5 billion) of Alliance Boots debt -
UK bank takes further crisis-related hit
16 years ago
In an interim trading statement, UK bank Alliance & Leicester unveiled £391 million ($774 million) of write-downs in the first four months of this year -
Lloyds TSB takes £1.1 billion Q1 write-down
16 years ago
Lloyds TSB reported a Q1 impact on profit before tax of £387 million in its wholesale and international banking division and increased its reserve on available-for-sale assets by £740 million due to a fall in their market value. -
UK bank unveils new write-downs
16 years ago
HBOS unveiled £2,844 million ($5,634 million) of write-downs relating to 2008 as it announced a £4 billion rights issue -
Regional US bank takes net valuation losses on ABS securities and loans
16 years ago
SunTrust Banks ups its loan loss provision to $560 million. -
UK bank adds $11.7 billion of write-downs as it slashes super senior valuations
16 years ago
Royal Bank of Scotland today unveiled a further £3.3 billion ($6.5 billion) of crisis-related write-downs as it announced a much flagged £12 billion rights issue to bolster its capital base -
Canadian conduit unwinds swap with CIBC
16 years ago
One of the Canadian ABCP conduits that is part of a restructuring plan currently being put to investors has unwound a credit default swap with CIBC taking a loss of CAD163 million ($163 million) - or 23% of the principal of the transaction -
Co-operative Bank hit by £31.8 million SIV write-down
16 years ago
Co-operative Bank has revealed a £31.8 million write-down on exposure to structured investment vehicles in its year-end results -
UK bank takes monoline-related write-down
16 years ago
Royal Bank of Scotland took a £456 million charge against its exposure to monolines in 2007, according to its full-year results released today -
UK bank provides details of CDO holdings
16 years ago
HBOS wrote down its treasury investments by a total of £736 million ($1.5 billion) in 2007 -
UK bank takes new crisis-related write-down
16 years ago
Lloyds TSB wrote down its holdings in junior tranches of high grade ABS CDOs by £114 million ($224 million) in 2007
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