Exact(51)
Mr. Staley notes the one set of clients that aren't interested in interest rate swap transactions: municipal governments.
"Normal for when there are big changes in interest rate policies".
"The logic is that the returns are going to be so huge that a change in interest rate from 5.5percentto5.75percentcent is almost irrelevant".
"With balanced funds you have to factor in interest rate movements and the manager's ability to shift between different stock and bond allocations," he said.
ANZ has rejected allegations by the corporate watchdog that it was involved in interest rate rigging and says it will "vigorously" defend legal action.
The company, based in Charlotte, N.C., plans to pay $200 million of a bank loan on Dec. 31 and terminate an equal amount in interest rate swaps.
Similar(9)
Mr. Bernanke's comments Tuesday were not intended to signal any change in interest-rate policy.
AHBR's problems, stemming from losses in interest-rate derivatives, have been known since 2001.
Even a tiny move in interest-rate expectations led to a mini-crash.
The bridegroom, also 30, is a director and trader at Merrill Lynch in New York, specializing in interest-rate derivatives.
This led to a brutal recession, which was especially tough on workers and businesses in interest-rate-sensitive industries like real estate.
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