Articles by Catherine Contiguglia
Basel proposal to cause ‘huge problem’ for TLAC market-making
Proposal requiring banks to deduct holdings of other banks’ TLAC debt could restrict market-making
Banks clamp down on pre-hedging over manipulation fears
Front-running concerns could leave market more exposed to liquidity risk
CCAR leaves modelling teams short of time and staff
Fed stress tests are a "perfect storm of pressure"
Bail-in divisions put bank swap ratings in doubt
Europe's fragmented resolution rules threaten Moody's framework
Coen: leverage ratio hit to clearing due to clashing mandates
Coen calls for greater parity between leverage ratio and clearing requirements
EBA chair says current regulation not fit for all banks
Rules derived from Basel III too complex for some banks
ECB sparks bank tug-of-war over debt eligibility
Debt may only be eligible for either TLAC or central bank liquidity
Russia to de-link derivatives reporting and netting
Corporates may be drawn into reporting regime, however
Buy side mulls new Eurex direct clearing model
Agency-style arrangement may cut clearing costs, but regulators wary
Softer rules on clearing margin may not cut end-users’ costs
Leverage ratio burden only one part of costs
Chinese corporate hedging costs soar after PBoC forex clampdown
New rule leads to 400bp price hikes as companies hedge renminbi fall
Illiquidity means some hedges are no longer possible – GE
End-users unable to execute certain trades as dealers retreat, claims swaps counsel
Banks reject NMD maturity limits in interest rate risk rules
Consultation respondents warn of reduced lending and higher systemic risk
Banks hope for Mifid reprieve on fixed-income research
Intervention by France, Germany, UK could bring about “more considerate treatment”
Hidden price pressures grow in euro swap market
Clients face wider bid/offer spreads, as dealers struggle to find liquid hedges
Regional swaps booking replacing global hubs
Banks complain of mixed supervisory messages, but regionalisation trend is clear
Markit unveils new CDX index rules
Up to 10 new names from under-represented sectors could be added to high-yield CDX index
Ice credit swap futures off to a slow start
Credit investors see "no need" for contract; Ice hopes other players will see appeal
Bank war on deposits to continue despite US G-Sib relief
Excess cash still too expensive to hold, say dealers
Greek swaps contract drama continues
Ongoing controls mean some end-user payments are more than a month overdue
Moody's correct on swaps bail-in risk – Risk.net poll
Nearly 90% say agency is right to assume swaps won't be bailed-in
Greek bank holiday sparks swaps contract chaos
Extended bank closure leaves derivatives payments by end-users in limbo
DBRS and Fitch consider bail-in boost for swap ratings
If agencies follow Moody's lead, S&P would be isolated
Moody's swaps bail-in bet splits banks and buy side
Asset managers wary of assumptions that make swap counterparts look stronger