News
Model validators squeezed by stress test deadlines
CCAR cycle frustrates compliance with Fed model risk guidance
Fed supervisor presses banks to address CCP exposures
Regulator says more information is needed to fully understand the risk of cleared trades
Giancarlo urges EU to protect CCP equivalence deal
CFTC head offers olive branches on ANE rule and trading venue protocols
Banks, regulators clash over stress testing
OCC and NY Fed officials defend regulatory stress tests despite criticism from bankers
US Treasury’s research arm revamps systemic risk models
New approach from OFR relies on separate measures of stress and vulnerability
Volcker desks unlikely to meet FRTB requirements
Some trading activities will need to be reorganised to comply with market risk rules
Bankers lament growing global regulatory fragmentation
Piecemeal roll-out of Basel III will be “enormously costly”
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