News
VM rules may spark Asian migration away from EU/US banks
Six-month transition could make inter-Asian trades cheaper, but only if liquidity is sufficient
People moves: Natixis appoints new head of Apac global markets
Singapore MP joins Ice; FastMatch hires sales chief; RBNZ's new risk assessment head
Fresh Priips objections reignite timing fears
Supervisors' concerns could delay adoption and put pressure on implementation timeline
US dealers face trading lockout from small Japanese banks
Lack of substituted compliance for Japan's small bank margin rules causing concern
Basel set to decide on capital relief for accounting changes
Phase-in to IFRS 9 and Cecl needed to avert "a dramatic overnight drop in regulatory capital", say auditors
Ice hires ex-Barclays OTC clearing chief in rates push
Ex-Barclays and Lehman banker Ray Kahn joins exchange group to focus on interest rate derivatives business
IASB revives IFRS 9 project to recognise portfolio hedging
Banking book behavioural complexity could still stymie attempts to facilitate macro hedging
Offshore RMB hedging costs soar as CNY/CNH basis hits record
Corporates "don't have a choice" about hedging
LSE-backed Libor replacement faces data wrangle
Proposed secured rate based on data from NEX, which has a competing offering
OCC fines Usher and Ramchandani $5m each in FX ‘Cartel’ probe
Former traders were indicted by the DoJ for the same offences
US indicts three in forex rigging probe
Accused UK-based traders face maximum 10 years in prison and $1m in fines
Banks seek to standardise cross-currency settlement dates
Talks under way to exchange principal amounts on IMM dates to allow for greater netting
Reputation model reveals how banks drag each other down
Network study shows bottom-line impact of bad news elsewhere
BGC staffs up as challenge from TP Icap looms
New York-based BGC has made a series of senior hires in recent months
LEI reporting initiative defended, despite high lapse rate
Operators of legal entity identifiers hope Mifid II will spur greater adoption
Fund admin providers see strong demand for illiquid strategies
Three-quarters of survey respondents administering $4.4 trillion collectively get weekly illiquids enquiries from managers
SMA data shortfalls ‘make op risk review a must’
New research adds to criticism of proposed op risk capital method
Fears that bumper coupon could skew iHeart CDS payouts
Market pushes for change to auction date amid fears of reduced single-name and index CDS payouts
Basel III completion date pushed back
Disagreement on output floors continues
People moves: Jain joins Cantor
FCA hires Foulger; new CRO for HSBC; Goldman's senior shake-up; equities chief for Credit Suisse
EU banks fear fresh blow on Basel credit risk capital rules
Possible revision to standardised approach would favour US banks for corporate exposures
'Risk budget' touted to help investors avoid the herd
Keep spare risk capacity – rather than running close to limits – to exploit crises, researchers advise
Fed economist advocates combining internal models with SMA
SMA could act as a floor for calculating op risk RWAs, suggests Filippo Curti
Mifir transparency rules could capture illiquid packages
Criteria to assess which package transactions are liquid are too broad, industry warns