News
Citi overhauls bonus system to strengthen conduct culture
Poor conduct score can eliminate bonus regardless of profit contribution
OCC regulator warns on interest rate risk build-up
Fed policy, liquidity requirements and model herding all raise concerns
LCH braces for repo clearing relocation
UK clearing house aims to retain swaps clearing even if sovereign repo business relocates to the eurozone
Fed postpones G-Sib capital change
Industry reprieve granted on proposal that threatens $10 billion capital increase
Asian banks cry foul over FRTB’s currency risk weights
Basel’s risk weights under SBA said to unfairly penalise banks reporting forex risk positions in non-G3 currencies
CFTC’s Quintenz: dealer threshold could exclude cleared swaps
Commissioner suggests risks should be better considered in de minimis reappraisal
Leaked EU paper proposes flexible bank holdco rules
Document offers helping hand to US and Japanese banks, which must split out securities business
Swiss regulator fast-track key to cleared Saron swaps launch
Ice warns against rushing new products into clearing, however
Credit risk models can dodge procyclical bias – Fed adviser
Excluding some metrics makes A-IRB retail portfolio risk model more stable
Reporting rules key for EU-US swaps trading equivalence
Market participants welcome outcomes-based approach, but need clarity where rules differ
CCPs say central bank access needed to avoid liquidity crisis
Uniform access to deposit accounts and overnight liquidity vital, say market participants
People moves: new Asia-Pacific chief for Goldman Sachs
Also: Reid Marsh moves at Barclays; Citi’s new Apac capital markets origination head; and others
Swaptions expiries complicate portfolio optimisation runs
triBalance and Quantile users call for better post-trade co-ordination between dealers
CCPs and banks at odds over custodian losses
Market participants do not see eye-to-eye on loss sharing in the event of custody bank failure
ECB tells IMA banks to apply before rules are complete
Dealers criticise “unreasonable” timetable for FRTB model approvals, revealed in September call
Ice’s Sprecher criticises Libor replacement push
Exchange head says overnight rates cannot replace term benchmarks
CFTC commissioner wants say over bank capital rules
Inability to influence SLR is “incredibly frustrating”, says Quintenz
Deutsche Bank expects early 2018 decision on LCH exit
LSE chief slams clearing relocation proposals for trying to create captive European Union market
Ferber: Mifid should be reviewed with Brexit in mind
European Union legislator takes aim at CCP open-access provision in further threat to UK clearing
Industry hails potential US relaxation of margin timing rules
Treasury’s proposed shift from T+1 for non-cleared swaps welcomed, but IM calculation comments draw fire
Quantile, TriOptima face off in cleared swaps compression battle
Vendors both unveil new means for clearing members to crunch cleared rate swap notionals
Korean autocallable volumes double as HSCEI rallies
Diversification of underlying investment and additional protection options also behind revival
ABS set for revival under US Treasury’s liquidity buffer plans
Allowing securitisations to count towards LCR and NSFR buffers could boost ABS market
Quants stymied by lack of alternative risk premia flows data
Data shortage is hampering efforts to model futures market liquidity