Europe
Monthly credit data review: UK corporates’ post-Brexit slide
UK financials show steady post-Brexit decline in credit quality
A common interest in common law
Losing UK court judgement recognition in EU would not dim enthusiasm for English law contracts
Industry mulls auction-based Libor swaps transition plan
Stanford’s Darrell Duffie proposes solution for switch to referencing alternative risk-free rates
FSB report highlights Eonia worries
Market participants concerned about health of euro overnight rate, which is crucial to swaps contracts
Unwanted Kingdom: managing no-deal Brexit risks
UK-based dealers must plan now if they are to handle trades that extend beyond Brexit day
London-based banks face ECB Brexit power grab
Drive to supervise swaps books from Frankfurt threatens cross-border balance sheet management
London likely to lose all euro repo clearing business
Fear of post-Brexit curbs on clearing and netting concerns propel shift to eurozone
CFTC need not walk the talk on swap data harmonisation
Global compatibility of data fields may be an unnecessary burden to put on an already-stretched industry
MTF bilateral trading protocol offers Mifid arbitrage
Nordic banks to use protocol to benefit from longer deferral period
Europe’s Eonia dilemma
As Europe begins formal search for new risk-free rate for swaps, it is unclear whether Eonia will survive
Extended resolution swap stays divide EU lawmakers
SRB defends EC moratorium proposal, but Parliament and Council are turning against it
Delay on EU pre-trade, commodity rules ‘risky’
Local authorities will apply key elements of Mifid II temporarily, owing to Esma backlog
EC official hints at partial relocation of euro swaps
Commission yet to work out details such as which products and what share of stock may have to move
Treasury review not rollback of reforms – CFTC counsel
Trump order is a chance to ease some rules and promote cross-border regulatory deference
US and Japan push for twin EU bank holdcos
Two umbrella groups needed for home-country separation of securities and banking operations
Onus to check swap data should be on counterparties – SDRs
CME, Ice and DTCC oppose duty to reach out to non-reporting party for data verification
Bankers warn first TLAC bail-in could spark market shock
Regulators urged to clarify treatment of bail-in bonds under both TLAC and NSFR rules
ECB backed to fix floundering euro swaps reform
Swiss, UK and US progress leaves euro swaps market playing catch-up in rates reform
EU-US swaps trading equivalence tipped for November
Hong Kong and Singapore unlikely to be deemed equivalent for start of Mifid II
Not on the list: Mifid’s systematic internaliser mystery
Self-identification of systematic internalisers in derivatives could fuel buy-side confusion
EU market feels chill of still-unknown position limits
Eventual caps unlikely to hit trading, but fears remain over lack of clarity
EU trading obligation threatens packaged trades
Banks warn they will have to break up packages and face higher costs for hedging
National curbs hit budding pan-EU settlement market
As T2S approaches final migration, restrictions on primary dealers undermine efficiencies
China to model financial reforms on Mifid II
Exchange chief tips authorities to review position limits and transparency in OTC markets