Bowing to the inevitable, Rosneft and Morgan Stanley scuppered their agreement to sell MOST’s energy trading operations to the Russian company. The official explanation was that the deal failed to get approvals from US regulators.
Glad that the Committee on Foreign Investment in the United States,which consists of Treasury, Justice, Homeland Security, Defence, State, Commerce, the US Trade Representative and the Office of Science and Technology Policy, saw off Igor and Co. Putting the FU in CFIUS.
This is a follow-up to my earlier post on the specifics of the Dodd-Frank Act (DFA) “push-out” rule. Basically I was trying to figure out what derivative transactions would be exempted from and snared by the rule, and based on a nice Reuters Practical Law article. I’m not a lawyer or legislative wonk, so take […]
There’s a lot of talk about what’s covered and what’s not in the Dodd-Frank Section 716 Push-Out rules. So just for the record, here’s an explanation from a 2011 piece from the Reuters “Practical Law” service. The first thing we have to be clear about is that the push-out rule applies only to “insured depository […]
There’s a whole lotta stupid in Frankendodd. A whole lot. The SEF Mandate is at the top of the list, but the “Swaps Pushout” isn’t far behind.
The Pushout was the brainchild of ex-Arkansas Senator Blanche Lincoln. (NB: I understand the risks of using “brain” in the same sentence as “Blanche Lincoln”.) Blanche, she of the historic 21 point annihilation in the 2010 midterms.
Following the lead of Bank of New York, State Street announced that it is exiting the swaps clearing business:
State Street (STT) Corp. is closing down its swaps business after clients said new regulations steered them away for using the products.
Following up on the previous post about the Financial Stability Board’s most recent Progress Report on Implementation of OTC Derivatives Market Reforms here we look at some of the more basic size-of-market data, including the amount of central clearing that is taking place. After growing rapidly up to 2007, OTC derivative market growth, in terms […]
SDRView Pro shows the latest IR Swap trade prices reported to US Swap Data Repositories with a 15-minute snap of prices from ICAP. However this requires a user to use a Web browser and login to the SDRView application. We have all…
We like to stay on top of market trends here at Clarus, and following-on from Amir’s blog yesterday on the sharp rise in uncleared, back-dated EUR IRS, I’ve been taking a look at my “alma-mater” – Cross Currency Swaps. As…