The new finance chief of Penn Mutual has had 10 jobs at the company over 19 years, but it was a chance exchange with the CEO that put him on the right path.
Regulators say Options Clearing Corp. failed to establish and enforce policies and procedures involving financial risk management.
Derivatives and hedge accounting, intercompany loans, valuation models — all will be affected by the shift away from Libor.
A Financial Stability Board report finds post-crisis reforms have reduced the likelihood of future crises.
The CFTC says the bank's traders "openly joked about" their efforts to manipulate the global benchmark for interest rate products.
The new index futures are "expected to provide liquid hedging vehicles for institutional investors with exposure to U.S. corporate debt."
Companies should start preparing soon for the changes slated to take effect in late 2018.
Global banking regulators want to take some of the sting out of the net stable funding ratio.
The new accounting standards update drops a requirement that companies must measure and report “hedge ineffectiveness.”
A critic of the SEC's move says it is "the latest in what has become the story of the ETF product development run amok."
But the hedge accounting alternative may give the biggest private companies an unfair edge on public company competitors.
The SEC approves rules that require security-based swap trades to be reported publicly within 24 hours.
