News
New accounting rules expected to hit US banks hardest
FASB’s Cecl rule could mean loss provisions for loans are three times higher compared with IFRS 9
CVA models may miss half of true default risk
Benefits of initial margin also overstated, new research finds
Buy side backs call for US Treasury new-for-old scheme
A programme of bond exchanges could revive liquidity in off-the-runs
Swift CEO gives network top marks despite $81m Bangladesh Bank theft
Banks need to upscale their security infrastructure, says Leibbrandt
FCA’s ‘zero tolerance’ on KYC fosters de-risking – BBA
Media and UK regulator’s approach to financial crime criticised at Commonwealth discussion
Esma buys time to fix broken client clearing chains
Two-year clearing delay for small firms might allow indirect model to be built
BoE researchers outline risk of collateral collapse
In stress periods, collateral chains could break, paper warns
India hesitates on physical settlement for commodity options
Sebi wrestling with shoddy warehousing infrastructure
Fund managers and insurers unite to combat Priips confusion
Cross-industry working group pledges to develop industry-standard templates
Non-MTF products may let energy firms escape Mifid II
Critics slam 'loophole' as Germany's EEX launches new power and gas instruments
TLAC subordination requirements loom in Europe
EC favours excluding derivatives from MREL and taking French approach to subordination
Barclays names Portney as investment bank CFO
Ex-clearing exec had also been equities CFO in long JP Morgan career
EBA connected counterparty plan raises compliance jitters
Guidelines would cut the large exposure due diligence threshold to 2%, versus the 5% Basel standard
Dealers predict ‘softening’ of NSFR in Europe
Some banks' pricing already assumes rule will be watered down
UBS saves Sfr295m in capital via swaps margin change
FDIC vice-chair has warned of hidden dangers in new approach
Barclays loses top clearing exec
Industry has seen string of departures from senior clearing roles over past year
EU non-cleared margin rules tipped for February
Regime likely to begin earlier than mid-2017, say regulatory sources
People: Credit Suisse’s Bhandari joins Nomura
Folloit joins Citi from BAML; Barnard departs RBS
Bank stress, Brexit drive DoubleLine out of European credit
Fund manager warns ECB’s corporate bond buy-backs may produce “adverse outcome”
Banks take flexible approach to pricing netting risks
Dealers are adjusting CVA prices, depending on their view of the legal netting opinion
Dealers decry wrangling over EU structured product reforms
MEPs' threat to vote down Priips RTS could herald "nightmarish scenario"
Banks fear FRTB internal model approval gridlock
UK regulator said to have concerns about the high volume of simultaneous approval requests
Lloyds' CVA head exits for JP Morgan
Julian Keenan leads Asia credit portfolio trading at the US bank
Downgrade fears push South Africa banks to join CCPs
FirstRand, Barclays Africa and Standard Bank eye direct LCH membership