Committee on Payments and Market Infrastructures (CPMI)
Costs deter clearing clients from using back-up dealers
End-users say using more than one clearing broker doesn't make economic sense
Top 10 CCPs plump liquidity buffers by $20 billion
Increase driven by higher secured deposits at commercial banks and expansion of credit lines
Swaps end-users struggle for clearing access – survey
Thirty of 44 derivatives end-users cite difficulties finding and maintaining access to CCPs
Dealers and FCMs split on clearing incentives
72% of client clearing firms say leverage ratio a clearing disincentive
FSB launches crypto asset monitoring framework
Metrics will focus on the financial stability risk of crypto market
CCPs build their liquidity buffers
$26 billion increase in deposits entrusted to commercial banks
Eurex rejigs liquidity portfolio
Half a billion euros placed with commercial banks at end-March
Liquidity resources vary across CCPs
Eurex, Ice Clear Credit, LCH SA most dependent on cash deposited at central banks
Swaps data: breaking down CCPs’ $750 billion funding bill
Amir Khwaja of Clarus FT considers how initial margin, variation margin and default fund contributions can quickly add up
Europe leaves IM haircutting in CCP recovery crosshairs
No explicit ban in parliamentary text; banks say method could spark exodus from stricken CCPs
FSB recommends global governance for transaction identifier
FSB says ISO should publish and maintain standard with additional governance from CPMI and Iosco
CFTC flags global progress on swaps reporting standards
Common transaction identifiers close to completion, with product identifiers not far behind
Bailout obsession holds back US CCP resolution regime
Dodd-Frank leaves legal uncertainty, but proposed alternatives could be even worse
CCP margin backtests can hide flaws, research finds
In richer test, ‘filtered’ VAR beats five other measures
Monthly swaps data review: ETD vs OTC margin totals
New disclosures from big CCPs show listed market consumes more margin than cleared swaps
Blockchain smart contracts raise systemic risk concerns
Automated swaps margin payments could exacerbate systemic risks, regulators warn
Buy side may have to take on CCP losses – FSB’s König
Exempting ailing banks from CCP wind-up process could force wider allocation of losses
CCP resolution plans ‘on the wrong path’, says Fed adviser
Bank framework has “contaminated” policy for CCPs, says Chicago Fed’s Steigerwald
Banks and CCPs clash over non-default losses
Banks balk at being on the hook for losses from investments or cyber attack, but many clearers say the risk should be shared
CFTC ‘puzzled’ by CPMI-Iosco plan on margin procyclicality
Prescriptive models could increase systemic risk at CCPs, market participants warn
Risk, AML fears hitting Arab correspondent banking
“De-risking” cited most often as key factor behind trend
Year-end deadline for fixing CCP recovery plans 'not realistic'
Some central counterparties are unable to maintain a continuous 'cover two' standard
Data muddle fears follow EC adoption of key Mifid RTS
Industry wants to avoid the emergence of multiple identifiers and is worried ISINs will not be adopted globally for derivatives