United States
Tariff rout lifts required IM by $51bn
Collateral posted for swaps, futures and CDSs jumped in April, data from top CCPs shows
Are EU banks buying cloud from Lidl’s middle aisle?
As European banks seek to diversify from US cloud hyperscalers, a supermarket group is becoming an unlikely new supplier
Fed agrees to unveil stress-test models in transparency U-turn
US regulator commits to September 30 deadline for new measures
US banks held $2.2trn of USTs on eve of tariff turmoil
AFS holdings hit record $1.04 trillion days before Trump’s tariff announcement pushed Treasury yields higher
Leverage ratio reform: the good, the bad and the Treasury
A simple cut would be less likely to stoke interest rate risk than exempting US government bonds
Tariff whiplash fuels clearing volumes at major CCPs
Record OCC volumes and strong gains at CME and Eurex mark April’s tariff-driven trading spike
LCH to expand access to FMX futures clearing
Clearing house is awaiting regulatory approval to allow client clearing via FCM affiliates
Loan-to-deposit ratios rise in most US states
New Hampshire leads at 99% as Nevada posts biggest gain
Technology is a double-edged sword for FMIs
Exchanges and clearing houses rely on third-party vendors for vital systems, but outsourcing can also lead to duplication and waste
Why US banks are not taking their eye off reputational risk
The concept may be removed from supervisory exams, but the 2023 crisis showed the risk is real
Did tariff rout expose ‘autocallification’ in US dividend futures?
Bank of America cites curve flattening and beta surge as evidence of autocall hedging
JP Morgan’s equity VAR hit GFC levels in March
Bank blames now-matured client position for temporary risk surge
Mr Bessent goes to Basel: the fate of global bank regulation
US resistance to international standards could spark greater fragmentation of prudential rules
Two years after SVB, EVE transparency remains sluggish
Only three US banks began publishing EVE figures since 2023
Op Risk Benchmarking 2025: the FMIs
Exchanges and CCPs respond to regulatory scrutiny and evolving threats with tighter vendor management and scenario refreshes
Back-to-back hedging is back on the table for autocall issuers
Deal activity is picking up as prop shops compete with hedge funds for structured products risk
Wells Fargo’s commodity book hits record size after 36% surge
Notional growth far outpaces Wall Street heavyweights
Citadel exec questions regulatory findings on repo haircuts
Isda AGM: OFR analysis didn’t account for excess collateral held against cleared positions in related trades
EU banks want the cloud closer to home amid tariff wars
Fears over US executive orders prompt new approaches to critical third-party risk management
Eyes on automation as FX options volumes surge
Dealers and trading platforms are making gradual progress to electronify foreign exchange options pricing and workflows
Morgan Stanley’s RWAs top $500bn after biggest jump since 2020
Derivatives and SFTs propel bank’s RWAs to record high
EC to decide on FRTB delay within ‘days’
Isda AGM: Consultation finds support for delay, with some wanting to go live with targeted changes
Fed official: SLR tweaks likely unbundled from Basel III
Isda AGM: Complexity of the endgame proposals mean any leverage ratio changes will probably be proposed separately
Isda proposes oversight group for CDS process
New governance committee the “first step” in credit determinations revamp