United Kingdom (UK)
PRA’s tough line on Pillar 2 disclosure divides lenders
Watchdog seeks to level playing field with public disclosure of total capital requirements
Dislocation policy: LCH exodus risks CCP basis blow-out
Questions about post-Brexit status of UK CCP could spark mass migration – and severe volatility
UK proposes gold plating of liquidity risk rules
Cashflow mismatch risk framework aims to plug holes in Basel Committee's liquidity coverage ratio
ECB and Esma would call shots on euro clearing
Proposals give central bank and regulator the power to bar biggest third-country CCPs
Benchmark fallbacks should be regulated, says industry
Fears of basis risk unless all users are obliged to write backup rates into legacy contracts
EU regulators stymied by Esma on electronic access
Treatment for third-country firms unknown until European Commission makes equivalence decision
Interview: Can Matthew Chamberlain rescue the LME?
London Metal Exchange CEO identifies problems, awaits contract and fee structure revamp feedback
Insurers press case for new-look risk margin
Firms call for lower cost of capital and link to interest rates in key element of Solvency II
People: Noble shuffles board in wake of Elman exit
Shell swaps trading chiefs; ex-Dreyfus head joins Cofco; Glencore adds Aberdeen’s Gilbert to board
UBS to get new market risk head
Internal move sees equities risk chief replace Kasenally, after her move to UBS AM
Buy side applauds Sonia’s coronation as UK risk-free rate
Decision a ‘no brainer’ but some say rejected secured rates could prove useful
EU regulators prepare to close Brexit loopholes
Isda AGM: new guidelines aim to prevent EU brass plates with large London operations
FIA calls for Mifid II transition for commodity firms
Licences required from start of 2018, but underlying data will be missing
Euro clearing location paper due on June 28
Short precursor on Brexit-related initiative expected on May 4, alongside Emir review
People: CFTC picks enforcement and legislative affairs chiefs
Other changes at Eni, Societe Generale, Danske Commodities, Glencore, Global Coal, Six plus more
Brent evolves to retain lustre
Introduction of Troll marks attempt to keep Brent as benchmark of choice
Regulators may consider portability in CCP fire drills
BoE, BaFin and CFTC move signals concern over whether client positions can be moved between banks in a crisis
UK banks face increased XVA burden after ring-fencing
Funding spreads to raise FVA and MVA; netting splits to hit CVA
Swaps play hidden role in UK banks’ ring-fencing plans
UK dealers avoid mass transfers of derivatives
Mifid malfunction: Brexit breaks data foundations
Removing the UK from EU markets could derail new European trading and transparency rules
HSBC shakes up risk analytics team
Internal memo attributes changes to increased demand for analytics
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Risk managers take note: Brexit was not a black swan
Protecting yourself against true black swans is the art of the possible, not the probable