Federal Reserve
Review of 2016: turn and face the strange
Post-crisis reform has caused upheaval, but gave recent years a sense of direction; in 2016, that was missing
Banks still fretting over softened US TLAC rules
Fed grandfathers existing debt, but leaves TLAC requirements largely unchanged
Europe’s banks fret over US stress tests
CCAR could expose weaknesses in capital planning at foreign banks
Basel still pushing for capital model floors
Bank treasurers call plan to underpin internal models with standardised floors “unmanageable”
Regulators deaf to variation margin concerns, say dealers
Banks told they cannot lobby on behalf of clients over looming variation margin rules
Fed adviser defends US Libor alternatives
Risk USA: GC repo and OBFR are still viable reference rates, says David Bowman
US elections: whoever wins, Wall Street loses
Republican nominee is no fan of bankers and a Democrat Senate would block reform of Dodd-Frank
Big losses force banks to rethink energy lending
Unfunded loans and exposures to suppliers worry credit risk managers
Energy firms fear liquidity void if US capital proposals hit banks
Trades ‘wouldn’t be anywhere near making sense’ for banks
European Commissioner cautions US on TLAC rules
Dombrovskis says foreign banks should not be mistreated by Fed internal TLAC proposal
Banks seek clarity on risk retention capital charges
CMBS issuers in dark about how much capital to hold against risk retention exposures
Banks missing margin transfer deadline due to timezone clash
Euroclear shuts at 12:15pm New York time, causing some US banks to miss T+1 cutoff
CFTC relief caps day of swaps margin mayhem
Banks unable to face up to 50% of counterparties due to custodian bottlenecks
Banks prepare for bumpy ride as margin deadline looms
Banks and funds may have limited set of counterparties on September 1
EBA connected counterparty plan raises compliance jitters
Guidelines would cut the large exposure due diligence threshold to 2%, versus the 5% Basel standard
Indecent exposure: Fed limits threaten swaps liquidity
Unworkable due diligence rules may prompt G-Sibs to cut single counterparty exposures below 5%
The beginning of the end for footloose modelling
US model risk guidance has drawbacks, but is a step towards better management of model risk
US regulators favour September margin deadline
September 1 roll-out would threaten bilateral swap trading chasm between EU and US
Funding flap: dealers slam NSFR impact on derivatives
Banks fume over “extremely punitive” funding costs from liquidity rule
US model risk rules put lions back in their cages
Impact of Federal Reserve and OCC model risk guidance is being felt well beyond US banks
Big four consultants help banks jump through CCAR hoops
US banks relying on small group of consulting firms to complete Fed's annual stress test
European banks pressed to boost model risk management
US model risk management guidelines being increasingly used by banks and regulators elsewhere
US banks fret over Fed's domestic internal TLAC concept
Lobbyists fear authorities have already reached a verdict on domestic internal TLAC
Fed data dependency backfires
Past year has seen huge change in formation of rate expectations