News
BoE creates volatility adjustment ‘stepping stone’ for insurers
Dynamic VA may be used for assets that fail to qualify for matching adjustment, say experts
Nervy Korean autocall investors lean on lizards
After volatility surge, buyers give up coupons for better chance of early redemption
A&O vs Linklaters in IM platform race
Law firms are backing rival attempts to cut margin doc costs for buy side
EU shelves limits on structural FX hedge exemptions
Basel rethink on FRTB capital ratio hedging prompts fresh questions over EU implementation
Quarles: Fed would recalibrate eSLR if Crapo bill passes
Senate or House changes to CCAR could also affect Fed’s new stress capital buffer
Broker hid yen swaptions basis after trader backlash
Japan’s Totan had been first to show volatility basis; sources speculate traders wanted to avoid re-marking books
Fed’s new capital buffer refocuses on risk
Low-risk activities and larger management buffers likely to become more attractive
LCH-JSCC basis drops as hedge funds arrive
Capula and Rokos Capital among funds to have gained access to JSCC in recent months
CFTC’s Pan: PFMIs not a template for global regulation
US regulator has previously warned EU supervisors not to unpick hard-won equivalence agreement
CCPs hike spending on cyber defences
“The thing OCC spent the most incremental funding on in 2017 was improving cyber security,” says COO
Stephane Mattatia to leave Societe Generale
Equity derivatives structuring veteran jumps ship for rival bank
Industry mulls challenging Isins through global identifier
Success of UPIs could be catalyst for European rethink on unpopular derivatives identifier
Podcast: Fries on Monte Carlo, Greeks and the future of AAD
Research on AAD is not complete until it becomes easier to implement, says quant
LCH and CME to start clearing SOFR swaps in third quarter
Scramble to offer clearing aimed at cutting clients’ margin and capital costs
KYC concern slows asset managers’ move into China
Rush into $2.2 trillion China funds market tempered by problems obtaining client data
Rising yields prompt China banks to up loan-loss coverage
Domestic and foreign lenders reassessing loan books and tweaking hedging strategies
Isins for swaps need ‘complete rethink’, say platforms
Three trading venues say Mifid II transparency objectives diminished by identifier choice
US swap rate failed during volatility rout
The Ice swap rate was not published on February 6 due to a lack of electronic prices during equity turmoil
FCA: Libor contract changes shouldn’t trigger margin rules
Moving from Libor to an RFR shouldn’t force margin requirement on legacy non-cleared trades, says UK regulator
Regional banks cheer tweaks to FRTB standardised approach
Planned softening of SBA makes it more appealing, but most banks still expect to adopt IMA
Regulator prepares crackdown on inaccessible Mifid data
UK regulator says approved publication arrangements not observing spirit of the rules
Europe’s co-op banks face capital hit from new Basel rules
Sharp increase in risk weight for strategic equity stakes will capture ownership of apex banks
Banco Popular bondholders turn US spotlight on Santander
Discovery application could shift compensation focus to the buyer instead of the SRB
Funding changes break cross-currency, Libor/OIS link
Tax reform and Treasury issuance focuses bank US dollar funding pressures onshore