Federal Reserve
People moves: EBS makes switches in electronic forex
Citadel hires SEC director as general counsel; MUFG’s new leveraged finance head; Nomura changes India chief; and more
Critical Mass: why US Treasury swallowed unloved Volcker rule
Bank prop trading ban drafted in a lunch break after Democrat defeat in Massachusetts
What to do about Libor?
Darrell Duffie explains why transition from Ibor-based benchmarks is necessary and feasible
OCC seeks leverage ratio relief as liquidity shrinks
85% of CCP’s volumes now short contracts on 20 biggest names, claims risk chief
Fed’s Powell joins chorus of Volcker rule critics
Governor seeks to simplify rule banning prop trading
Madness in the method: Basel grapples with G-Sib riskometer
Some experts warn the methodology to identify systemic banks could increase systemic risks
Volcker fights back as prop-trading ban comes under attack
Former Fed chair tells Risk.net that calls for total overhaul of eponymous rule are misplaced
Model risk managers eye benefits of machine learning
Ramp-up in regulatory scrutiny of model validation sees banks turn to black boxes
Congress urged to curb Fed’s regulatory powers
House hearing revives debate on consolidating US regulatory agencies
Monthly swaps data review: Libor dominance challenged
There are more sources of over-the-counter derivatives data available today than at any point in the market’s history
Redemptions focused within strategies suffering losses in 2016
Redemptions focused within strategies suffering losses in 2016
Regulatory blitz weakening model risk management, say banks
Smaller banks’ modelling practices under growing scrutiny, but ability to comply is stretched
US lawmakers divided over Volcker rule’s impact on bond liquidity
Both sides cite Fed data to support their interpretations of prop trading ban
OFR leads US push for mandatory adoption of LEIs
Berner says his bureau could use repo-reporting project to drive uptake of legal entity identifiers
Doubts grow over US FRTB implementation
Fragmented roll-out would price European banks “out of the market”
Republican senator slams bank capital rules
US president Donald Trump is no fan of Basel III, Perdue claims
CFTC set to flex its muscles in FSOC meetings
FSOC must study the impact of capital rules on trading liquidity, Giancarlo says
New Basel delay throws SMA into doubt
Revised op risk capital framework unlikely to be implemented uniformly, even when a deal is agreed, bankers say
Broaden your reach on model risk, quants told
Three banks say their model inventories are “a work in progress”
CLO investors fret as rate hikes loom
Rising default rates could trigger a stampede out of the market
Dealers at odds with Fed on variation margin relief
Significant exposure test should be applied on a gross basis, Risk.net has learned
Hazy guidance causes chaos on first day of VM regime
"We don’t know what the rules are," says one senior banker
Vague VM relief criteria creates trading uncertainty
Banks face lack of clarity on extent of margin rule forbearance
Treasury: SLR 'reducing stability' in US repo markets
Treasury study found leverage ratio is making bank repo funding “fragile”