Clearing members
MEP: Basel too slow to deal with clearing capital clash
Isda AGM: Swinburne criticises Basel’s lethargy on clash between leverage and clearing rules
Fear of something worse seen as key to CCP recovery
Forcing banks to pick up defaulted trades is “viable option”, says Fed researcher
Buy side may have to take on CCP losses – FSB’s König
Exempting ailing banks from CCP wind-up process could force wider allocation of losses
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
Start-up looks to break swaps clearing bottleneck
Sernova promises everything an FCM can do – apart from taking risk
Clearing portability under threat as FCM pool shrinks
Failure of big clearing brokers could see clients unable to move to stable competitors
CME’s European CCP to lower rates default fund burden
Firm hopes move will entice smaller players to join rates clearing service
Why liquidity risk is the silent clearing killer
A quant paper shows feedback effects can amplify CCP margin requirements in stressed markets
Systemic risks in CCP networks
Barker, Dickinson, Lipton and Virmani propose a credit and liquidity risk model for CCPs
Banks and CCPs clash over non-default losses
Banks balk at being on the hook for losses from investments or cyber attack, but many clearers say the risk should be shared
Suspend bank capital rules following an FCM default, CFTC told
Banks may be more likely to bid in post-default auctions if temporary capital relief is granted
Cat bonds can help combat the systemic risks of CCPs
Bonds could pre-fund CCP default funds and higher margins during market stress, authors argue
Barclays loses top clearing exec
Industry has seen string of departures from senior clearing roles over past year
Supervisors split over flexibility in CCP resolution
European regulators square off over predictability of spillover losses
Emir countdown raises cost questions for the buy side
Firms fear wider spreads, lower liquidity after May 21 frontloading date
Nordic clearing members eliminate Skr288 billion IRS notional
Nasdaq Clearing’s first compression run to be continued twice a year
LCH and dealers clash over loss allocations
Isda AGM: CCP equity should not be spared, say clearing members
Tensions at for-profit CCPs could put them at risk
Demutualised CCPs must find a way to keep clearing members engaged in risk management
Looming EU-US deal on clearing gets cool welcome from banks
Proposed European rule change will raise risks and costs of clearing, critics fear
Carney: leverage ratio could limit clearing benefits
European officials should look at the impact of the leverage ratio on clearing, the Bank of England chief tells MEPs
Irish central bank warns of swaps market shut-out
Official says current clearing capacity “will be saturated” by Emir demand
Fears mount over CCP client porting
Shrinking pool of FCMs could undermine efforts to port client positions in a default
Buy side mulls new Eurex direct clearing model
Agency-style arrangement may cut clearing costs, but regulators wary
The Clearing House takes aim at CCP risk governance
Banks call for audit trails and beefed-up role for risk committees