Europe
Big EU banks lost €22bn capital on IFRS 9 switch
Italian banks saw the largest capital depletion, losing €9 billion (8.9%) of CET1 capital on the transition
German banks biggest losers in EBA stress tests
Eight German lenders projected to shed €41 billion in CET1 capital under adverse scenario
Deutsche, Barclays breach leverage ratios in EBA stress tests
Five banks fall below 3% regulatory minimum level
Europe inches closer to own version of no-action relief
Five options on the table, lawmakers want case-by-case veto, firms push for power over primary laws
EU seeks fix for capital double-count
Rules for investment firms would pile capital on capital in apparent error
EU prop trader regime could capture foreign firms
Group capital rules may be applied to third-country arms of EU market-makers
BNP Paribas bolsters capital ratio on First Hawaiian sale
CET1 capital increases €516 million in third quarter
European credit model outputs vary wildly
Risk densities range widely and out-of-sync with average probabilities of default
The aftershocks of Einar Aas
Energy could be particularly badly affected by the €114m default of Nasdaq power trader Einar Aas
HSBC hires Credit Suisse European rates head
Olivier Herregods joins UK bank to run Emea flow rates
Cross-border loans to the US dip in Q2
Coss-border borrowings expressed as a percentage of the region’s GDP fell from 15.3% to 14.3%
Model changes threaten 30% rise in Nordea's RWAs
Imposition of new risk weight floors will harm bank's capital ratio
Corporate loan RWAs doubled by standardised approach
RWA densities for corporate loans under standardised approach stand at 94%, for A-IRB just 43%
EU seeks US-style freedom to delay rules
Power to grant “no-action relief” appears in proposals from EU Council and Parliament
European ETDs make scattershot progress in 2017
Almost half of equity derivative notionals executed on exchange
Emir compels clearing surge
Share of cleared interest rate derivatives climbs to 58%
Deutsche Bank's risky corporate loan pile towers over peers
German lender has one-quarter of all high-risk corporate loans reported by EU big banks
EU derivatives market adds €55 trillion in 2017
Interest rate products account for 69% of gross notionals
Exchange chiefs back Giancarlo in tussle over CCP oversight
The CFTC may block US CCPs from acceding to EU supervision
Eurex default fund swells to €4.5 billion
Second quarter saw the second-largest quarterly increase since the CCP began reporting in 2015
Lessons from two commodity defaults
Regulators and exchanges need to learn from the Greenhat/PJM and Norwegian Nasdaq defaults
SRB should publish banks’ MREL requirements, says Enria
But market abuse rules need amending to avoid SRB disclosing confidential resolution actions
European funds wary of stress-test ‘straitjacket’
As Esma finalises guidance, some fear a one-size-fits-all approach
Risk of no-trade lists as banks leave Brexit plans late
European clients could face bottleneck of contract transfer requests from relocating banks