United Kingdom (UK)
HSBC to reallocate $100bn of RWAs in shake-up
Global banking and markets division to take brunt of cuts
RBS takes axe to NatWest Markets
Bank plans to slim trading operation to 10% of total RWAs
Barclays to shrink capital buffer
Bank targets excess capital over regulatory minimum of 100 basis points by year-end
PRA’s Woods: ending capital deductions for IT is ‘dubious’
Regulator signals potential divergence between UK and EU capital rules after Brexit transition
FCA dismisses Libor credit component concerns
UK regulator bemused by distress raised by US regional banks to Fed
BNP leads a comeback for Europe’s clearers
Brexit, leverage ratio tweaks and concentration fears could help European banks compete with US FCMs
Quant Guide 2020: programmes tap banks for teaching talent
Unis are adding machine learning and data science courses, but need instructors to teach them
Isda plans February rerun of Libor pre-death trigger poll
Lack of consensus would add pre-cessation option to post-cessation protocol for bilateral swaps
Quant Guide 2020: University of Warwick
Coventry, UK
Quant Guide 2020: University of Oxford
Oxford, UK
Quant Guide 2020: King’s College London
London, UK
Quant Guide 2020: University College London
London, UK
Quant Guide 2020: City, University of London
Bayes Business School (formerly Cass Business School), London, UK
Quant Guide 2020: University of York
York, UK
Quant Guide 2020: Imperial College London
London, UK
Watch out for Brexit cliff edge 2.0, experts warn
Measures to mitigate a sharp rupture for financial services could be less likely at end-2020
Regulators urge buy-side action on Libor shift
ARRC set to release ‘checklist’ for buy-side firms, while FCA assesses exposures
LCH targets hardwired pre-cessation triggers
Proposal aims to align transfer pricing for cleared and bilateral markets in the event of split on ‘zombie Libor’ triggers
Show don’t tell: BoE’s climate stress test dilemma
Making the test easier to run could come at the expense of building risk management capacity
New pre-cessation poll likely as FCA quells zombie Libor fears
Minimal non-representative lifespan opens door for rerun of Isda trigger consultation
UK firms lead in cross-border loans to shadow banks
Entities based in the UK had 20% of outstanding global loans to non-banks
On eve of Brexit, PPF’s chief risk officer isn’t too worried
Stephen Wilcox talks about getting pensions paid without the benefit of controlling ‘UK Plc’
SwapClear model update causes IM hike
Maximum aggregate IM call for Q3 was £3.7 billion