News
ECB and Esma would call shots on euro clearing
Proposals give central bank and regulator the power to bar biggest third-country CCPs
People: HSBC’s Karl joins Isda
OCC names new chief information officer; Nex nabs JP Morgan’s Americas head of derivatives clearing
FRTB could hit syndicated loans, banks fear
Accounting classification would lump assets into regulatory trading book
Clashing bank resolution plans threaten to stall US reforms
Supporters of bankruptcy act want it separated from repeal of Dodd-Frank Title II
Benchmark fallbacks should be regulated, says industry
Fears of basis risk unless all users are obliged to write backup rates into legacy contracts
Canadian CROs play down threat of mortgage exposure
Burgeoning loan portfolios no cause for concern despite Moody’s downgrades, risk chiefs claim
FRTB threatens Canadian bond market, dealers say
Modelling the risk factors of Canadian corporate debt is “almost impossible”
Japan seeks speedy margin rule equivalence decisions
The country has equivalence agreements with Canada and the US, but not Europe
EU regulators stymied by Esma on electronic access
Treatment for third-country firms unknown until European Commission makes equivalence decision
EU rules delay sparks fears over indirect clearing
CCP members must offer new arrangements for exchange-traded derivatives in January 2018
World Bank bets on compression for EM currencies
NY-based start-up LMRKTS gets backing to support illiquid markets
Jeff Bandman leaves CFTC for private sector role
Former acting director of clearing and risk led negotiations with EC over CCP equivalence
Australia’s bank levy could squeeze TLAC drive
Issuing Tier 2 and senior unsecured debt will become more expensive for the top four banks in the country
A regulatory storm hits China
Regulators are imposing a new wave of tighter financial supervision
Margin rules spur Middle East netting upgrades
Bahrain, Qatar, UAE seek to bolster swaps safeguards
Surprise RMB strengthening prompts unwinds
“A lot of long [US$] positions were unsustainable and had to be re-evaluated,” says forex structuring head
Caught in the branches: Japan rebuffs EU ring-fencing plan
Proposed rules for foreign banking group supervision will disrupt business and resolution plans, says JFSA
Dexia official acquitted of alleged swaps fraud in Italy
City of Prato likely to appeal despite perjury claims
Is there still life in the low-vol bet?
Quant analysts disagree on rate sensitivity of $150 billion strategy
Council of EU holds firm to salvage STS securitisations
Market participants welcome reversion to 5% retention rate and lower penalties for breaches
New light cast on shadow bank risk
PLS-SEM model could test assumptions on shadow banks’ risk role
CFTC rules shake-up could outpace Treasury review
Giancarlo’s Project Kiss could deliver faster than Mnuchin’s four-part regulatory reform report due next month
Model risk falls under the CCAR microscope
Fed using qualitative reviews to test compliance with SR 11-7
LCH set to launch repo client clearing service
Project will allow buy-side firms to access CCP through sponsor banks in coming months