The vicissitudes of Cimolai, a jewel of Made in Italy, are becoming a school case for the damage that the abuse of derivatives can cause even to a very healthy company like the one in Pordenone
All 16 defendants, managers and banks, were acquitted in the appeal process on the MPS case because "the fact does not exist" on the controversial accounting of derivatives. The bank approves the accounts and announces the presentation of the new plan for 23…
The controversial topic of derivatives was the focus of the webinar promoted by the Faculty of Economics of the La Sapienza University of Rome and by the National Association for the Study of Credit Problems
The recent Supreme Court ruling on derivatives subscribed by local authorities excludes typically speculative ones and obliges the use of probabilistic scenarios
The Lion announces the creation of its first "Green Insurance Linked Securities Framework", which has already received the sustainability license from Sustainalytics
The main European managers of the markets on which these products are traded, including Borsa Italiana, will be part of it
If the Basel rules do not take into account the biodiversity of the banking system and do not enhance the value of small and medium-sized local banks as well, it will be difficult to achieve the objectives of stability and sustainability - Government bonds in banks, bail-ins,…
The Attorney General asked for compensation of 3,9 billion: Maria Cannata, the former general manager Vincenzo La Via and the former ministers Domenico Siniscalco and Vittorio Grilli acquitted - The contracts were deemed legitimate and, at the same time, unquestionable by the…
The Supervision of the ECB has finally decided to x-ray the derivatives of Deutsche Bank, Bnp Paribas and Socgen after having pressed Italian banks on NPLs for years
The former minister was heard in the banking commission on the story of Morgan Stanley's early closure of the derivative which cost the state 3,1 billion. The public-private revolving doors? "We need transparency and clear rules but they can bring benefits"
According to the Milanese prosecutors investigating Monte dei Paschi following the purchase of Antonveneta, the crack was not due to the Alexandria and Santorini derivatives to support the bank's losses but to more structural reasons that Bankitalia saw…
Was the old bank better than today's? This is the question that Marco Onado's book raises, highlighting how the "new bank" is always placed "at the center of finance, but with an enormous conflict of interest" and with the unsustainable…
FROM THE ADVISE ONLY BLOG - Derivatives, those "ugly and bad" financial instruments, are created to satisfy common and completely ordinary needs. For example, keeping the price of bergamot under control during the winter.
We publish the explanation of vote in the House of Honorable Giampaolo Galli on the majority motion for greater transparency on contracts on MEF derivatives, which rejects the summary trials and reveals the responsibilities of the Berlusconi governments and the amateurish maneuvers…
The Court disputes a total tax damage of 3,9 billion for the closure and restructuring of derivatives on public debt. First hearing in April 2018. No comment from the US bank. The Ministry of Economy. "Full confidence in the work done by the managers,…
The investment certificate is an alternative financial product that complements shares and bonds - Its fundamental characteristics and its different types - Banca IMI products.
Fortunately, the European Court of Justice has rejected the request of a public bank in Baden Wurttemberg to escape the supervision of the ECB, but the moves of the Germans to favor their banks by circumventing European rules are countless:…
Gigantism and speculation as a business model are Deutsche Bank's two great weaknesses, which are reflected in its accounts, dominated by an avalanche of derivatives (615 billion) - Today the German bank has "leverage" on…
The possibility that the American Justice fine for subprimes will be reduced from 14 to 5,4 billion dollars causes Deutsche Bank to rebound on the stock market but speculation remains lurking because the markets do not believe in the tests of…
The meeting on the approval of the 2014 accounts is underway (with a loss of 5,4 billion), the capital increase and the renewal of the corporate bodies - Viola underlines that now the bank can present itself "with the papers in order and the ironed suit".…
While the general attention was focused on what was happening in the Chamber, the commissions continued to work - In the Finance Committee in the Chamber, the subjects that held the table were the reform of cooperative banks - In the Senate one of the…
The in-depth analysis will concern the size of the Italian market, the methods of structuring, use and placement of the securities, and the contracts in place with the public administration.
If the Abs segment worked better, say the two central banks, loans to the private sector could be increased, in particular to SMEs.
The Commission fears that the three banks may have participated in a collusive scheme that aimed to distort the normal course of the price components of European interest rate derivatives.
The judges of the Court of Appeal of Milan acquitted both the banks (Ubs, Deutsche Bank, Depfa Bank and Jp Morgan) and the nine bank executives convicted in the first instance for the fraud of derivatives against the Municipality of…
The EU antitrust has fined 1,712 billion to financial institutions guilty of participating in illegal cartels in the derivatives markets - Among the banks involved are Barclays, Deutsche Bank, Societé Generale, Rbs, Ubs, JPMorgan, Citigroup.
The United States and the European Union have reached an agreement on derivatives based on the acceptance of the respective rules: each jurisdiction will apply its own rules to these transactions within its territory regardless of who carries them out - The agreement concerns a market…
"The hypothesis that the Italian Republic used derivatives at the end of the XNUMXs to create the conditions required for entry into the euro is absolutely groundless": thus Economy Minister Saccomanni at the end of the CDM this morning.
Six-month BOTs are being placed this morning - And the alarm goes off about a potential loss of at least eight billion for the Treasury against derivatives, while the spread continues to rise - Wall Street flies, but Shanghai does not…
Shareholders vote today in meeting on the separation of the positions of president and CEO after the scandals - Dimon's double seat trembles - The three lessons of the London whale by economist Jan Kregel (Bard College) - The case…
The Financial Times revealed it today, explaining that the investigation would concern the alleged concealment of losses of about 12 billion dollars linked to derivative securities - According to sources cited by the British newspaper, next week the Bank inspectors…
The authorities are targeting operations similar to Santorini launched by the old MPS and currently being examined by the judiciary
Futures, swaps, options, forward rate agreements: do they serve to reduce financial risks or to increase the volume of speculation fire? The question is open: it depends on how they are used - But it is striking that derivative contracts are worth around 670…
Oscar Magi, judge of the Court of Milan, writes in the reasons for the sentence that "the banks treated the counterparty in a substantially and formally incorrect way, taking advantage of an asymmetrical situation which, however, they had the duty to rebalance".
After the derivatives scandal, the president of Banca Monte dei Paschi di Siena, Alessandro Profumo, confirmed that the institution could take action against the previous directors for the structured transactions conducted in the past - Bankitalia: "Documents hidden from the supervisory authority" .
The Milan judge sentenced Deutsche Bank, Depfa, Jp Morgan and Ubs to pay a fine of one million euros each, plus a total confiscation of 87 million - The accusation was of having deceived the municipality of Milan…
Three ex-executives of the German banking giant have filed complaints with the US authorities accusing the Bank of having hidden losses on derivatives for 2009 billion dollars in 12 - The story also involves the American financier Warren Buffett.
In the coming days, away from prying eyes, the sherpas of the EU, the IMF and the US will meet in Washington with a delegation from Goldman Sachs, JP Morgan and Morgan Stanley, to discuss trading on derivatives.
This is the conclusion reached by a research by the ECB - By cross-referencing the list of banks that issue the most derivatives with that of the institutions that receive the best ratings, we find many matches - Questioning the credibility of…
A new derivatives market would immediately compete with Eurex and Liffe - Meanwhile, Cme Clearing Europe has decided to also accept gold as collateral for the payment of operating margins
Milan's assistant prosecutor Alfredo Robledo has asked that Deutsche Bank, Depfa, JP Morgan and Ubs be ordered to pay a fine of 1,5 million euros, plus the confiscation of a total of 72 million euros - The…
Bruno Iksil, the trader in the scandal that caused monstrous losses to the US giant, has packed his bags together with the other managers involved in the scandal - They will have to return bonuses and liquidation - CEO Jamie's salary will not be affected...
It is one of the measures required by the Dodd-Frank Act, the reform of the regulation of financial markets that began after the 2007 crisis - The definition of swaps will lead the US government to supervise a global market that is worth almost 650…
The President of Consob, in his meeting with the market, pointed his finger at the drifts of financial innovation, but had to spend bitter words on high frequency trading, in the face of which he is or almost powerless - The same case of JP Morgan,…
