Federal Reserve
Libor’s sunset sees US repo market cast a longer shadow
Concern over structural deficiencies as SOFR chosen to replace key benchmark
This tangled web: banks seek to contain systemic model risk
Network studies are being used to identify model dependencies and concentrations
Covered funds seen as starting point for Volcker rule reform
Inter-agency consensus may prove more elusive on altering prop-trading definitions
US regulators approve VM route to capital savings
Guidance tips balance in debate over interest payments in settled-to-market swaps
Banks warn clients of possible unwinds as VM deadline nears
Clients on old CSAs told they face unwinds and trading bans unless repapering talks underway
Banks warned off machine learning for model risk
Banks acknowledge they “cannot hide behind a complex tool” to assess interconnectedness
Replacing Libor: US swaps market eyes long to-do list
New timeline focuses minds on product and contract gaps – but some end-users want to stay put
VM change helps Barclays cut derivatives by $113bn
Three factors slashed size of book by 25%, including move to treat margin as settlement
US gives 21 banks another year to solve resolution problems
Banks including Societe Generale, Santander and BNP Paribas have until end-2018 to file plans
Repeal CEM; reform SA-CCR
Capital framework hurts clearing resilience, Citi execs argue
Model risk managers grapple with interconnectedness
US regulators ask banks to assess cross-dependencies of models – prompting some to employ network theory
Op risk capital fight a limp political thriller
Battle to replace AMA with non-models approach was beset by nationalistic squabbles
U-turn on SMA comparability sparks anger
Three regulators echo bank dismay as key principle of op risk capital framework is abandoned
Monthly swaps data review: a day in the life of a swap
As US rate-setters met last month, real-time reporting showed the impact on swaps
Fed weighing VM capital cut for cleared swaps
Powell implies support for practice that saved UBS $300m in capital
Fed paper reignites debate on bank capital ratios
US industry association criticises official analysis suggesting optimal Basel ratios of up to 26%
Would whoever’s left at the CFTC please turn on the light?
Lack of resources – and commissioners – becoming increasingly apparent at US regulator
A 10% leverage ratio does not justify waiving the Volcker rule
Former Fed manager Christopher Laursen warns against prop trading, even for well-capitalised banks
CCAR helps identify op risks, banking experts say
Banks forced to consider link between risks and macroeconomic factors
US learns to play the Basel game
Mnuchin report marks a US regulatory shift – from leadership to gamesmanship
Scrap the gold plate: Mnuchin goes global on bank rules
Treasury converges to international standards, but leverage ratio exception may delay Basel deal
US Treasury stance on CCAR a return to ‘bad old days’
Overhaul would kill test failed by eight banks in past three years
Model risk falls under the CCAR microscope
Fed using qualitative reviews to test compliance with SR 11-7
Spectre of mass swap unwinds looms ahead of VM deadline
Dealers warn of market disruption if trades lacking new CSAs are terminated before September 1