Credit Rating Agencies
Króna in chaos during Iceland's meltdown
REYKJAVIK - Confusion reigned in Icelandic króna trading last week, as the country's central bank, Sedlabanki, abandoned its peg to a basket of nine currencies a day after it was effected.
Derivative Fitch launches beta CFXO model
LONDON – Derivative Fitch last Wednesday (June 27) released a beta version of its Vector CFXO model for collateralised foreign exchange obligations, aimed at increasing transparency in the market and the understanding of its ratings.
Merrill Lynch launches first rated CFXO
LONDON – Merrill Lynch has launched the first full rated and managed collateralised foreign exchange obligation. The product is being managed by Crédit Agricole Asset Management, and rated by Standard & Poor's.
Collateralised FX obligation market takes off
LONDON – The market for collateral- ised foreign exchange obligations (CFXO) is gaining pace, with Derivative Fitch establishing a ratings methodology for the products.
Manila plays host to forex industry
Friday MANILA – The conference proper starts on Friday, with welcome remarks from Amando Tetangco, governor of the Bangko Sentral ng Pilipinas, and the secretary of the department of finance, Margarito Teves. Delegates will then hear from the president…
Baltics, Slovenia set for early euro adoption
LONDON – Estonia, Lithuania and Slovenia are likely to be the first of the new European Union member states to adopt the euro, Fitch Ratings said last week.
Expanding CDO market exposes new FX risks
LONDON -- The growth of the cross-border collateralised debt obligation (CDO) market -- whereby debts of varying risk are bundled together and sold to investors as one debt-type instrument -- is opening up a new source of FX risks, said market…
Yen shrugs off loans plan
TOKYO -- There was muted reaction in the FX markets last week to the Japanese authorities' plans to tackle bankss bad loans and revive the region's faltering financial system, analysts told FX Week .