Now Let Us Say Certain Things About DVA
If you are in the business of selling derivatives you have to value them from time to time, because counterparties want to know what their thing is worth, and regulators want to know how deep in the...
View ArticleBofA Wants To Make A Little More Money On DVA
Financial institutions normally prefer not to have everyone think they’re a shitty credit, because that can lead to doom, or MF Doom, or glitchy intimations of doom that quickly get sorted. But it can...
View ArticleBonus Watch ’12: UBS Investment Bankers Thought Zero Was The Minimum Bonus?...
UBS investment bankers yesterday learned that their bonus pool would be down by 60%, and that anyone inclined to grumble to division head Carsten Kengeter should be aware that (1) he would have none of...
View ArticleNice Earnings, Citi, Shame About Your Credit Improvement
I have nothing particularly useful to tell you about Citi’s earnings – they were good, yay, well done Vik, one day maybe you’ll be able to pay a dividend – so let me ask you some useless things. My...
View ArticleSpare Some Worrying For Ratings-Triggered Collateral
Remember how a week ago people went around bothering themselves about Bank of America’s derivatives? Specifically how if they get downgraded, as seems plausible, they will have to come up with a...
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Banks Are Losing One More Source Of Fake Income
Have you given up on this week yet? Of course you have. Libor Libor Libor Libor, we get it, mistakes were made. Next week though we get the start of bank earnings season, which will at least kick off...
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