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Posted on May 13th, 2012
GFMA, ISDA, BBA IIF and FOA provide comments to the Risk Management Group (RMG) of the Bank for International Settlements (BIS) on the Basel CCP framework filed regarding Capitalisation of Default Fund Exposures and Hypothetical Capital Methodologies. They are concerned that the current proposals discourage the propagation of central clearing (counter to the [...]
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Posted on April 22nd, 2012
Developments since the last Euro Briefing underline that the resolution of the Euro Area crisis will be protracted and painful: Greece is completing a debt exchange that involves large write offs for bondholders, but which was overwhelmingly voluntary in nature; the ECB’s balance sheet has ballooned to more than 30% of GDP; there [...]
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Posted on April 16th, 2012
In a Policy Letter released on April 9, 2012, the IIF stressed that the global economy faces significant challenges, despite some recent encouraging signs. The letter emphasized that risks continue to emanate from the oil price increases, deleveraging pressures, and the lingering weaknesses in the U.S. housing market. In addition, the IIF noted [...]
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Posted on April 12th, 2012
The IIF index of emerging market bank lending conditions (EMLC) remained below 50 (implying an overall deterioration) for the third consecutive quarter. That said, however, the global EMLC index recovered most of the previous quarter’s drop, rising 48.6, from 44.7 in 2011Q4 and 49.1 in 2011Q3. This change was mainly the result of [...]
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Posted on March 4th, 2012
Efforts to resolve the Euro Area financial crisis entered a new phase on February 21, when Euro Area finance ministers agreed to a second sizeable support package for Greece, a key component of which was a restructuring of Greek government bonds held by private investors. The reduction in value is to be achieved [...]
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9 pages
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