Clearing
Clearing fees up for 60% of swaps users due to leverage ratio
Survey of US asset managers reveals higher costs and reduced access to clearing
Mixed industry reaction to Moody’s CCP ratings
Clearing members say narrow definition of default may limit ratings’ usefulness
FSB’s Andresen: liquidity risks were underpriced pre-crisis
Top staffer at FSB addresses liquidity, bank risk data and securities financing risks in a wide-ranging interview
Slow start to US dollar rates clearing in Japan
Dealers cite limited demand to clear foreign currency interest rate swaps at JSCC
OTC client clearer of the year: Citi
Bold decision to sacrifice margin income put Citi’s OTC clearing business on firm footing
Looming EU-US deal on clearing gets cool welcome from banks
Proposed European rule change will raise risks and costs of clearing, critics fear
Banks unyielding in contract talks on clearing
European buy-siders that leave clearing-contract talks too late could be told 'take it or leave it', lawyers warn
Fresh delay for EU rules on CCP spillover losses
Recovery and resolution rules will miss the revised February delivery date
Energy firms urge EC to ease Emir clearing rules
Review highlights concerns over impact of clearing on nonfinancials
Singapore rates benchmark error causes CCP split
Refixing in March led to price difference between LCH and SGX
US regulators told to expect VM status change
Fed, FDIC and OCC told daily settlement of swaps will cut required capital
NAB pushed into clearing role by Clydesdale spin-off
Both parties felt it might be difficult for the UK bank to find a clearing provider alone
Banks test promise of blockchain as CCP replacement
“You can imagine a world where you don’t need clearing houses,” says senior banker
Collateral or settlement: capital cut rests on role of VM
Questions about status of variation margin are more than semantics
Swaps CCPs hope to slash capital via margin change
Treating margin as settlement could cut leverage – CME, Eurex, Ice, LCH.Clearnet all seeking approval
Banks try to copy Citi and UBS clearing leverage cuts
Tactic slashes exposure for FCMs, but could undermine lobbyists
CFTC eases margin requirements for inter-affiliate trades
Bowen votes against final rule exempting non-cleared inter-affiliate trades from initial margin
US margin rules threaten clearing bottleneck
Fed estimates $2.5 billion annual cost of funding margin on bilateral trades
Stricter EU collateral rules threaten Nordic power market
Esma move on bank guarantees “risks damaging” liquidity, traders say
CFTC quizzes clearing banks over leverage-cutting tactic
Billions of dollars in client margin have already been moved off balance sheet
EU regulators split over using initial margin to resolve CCPs
Rules on CCP resolution were due last month but are now slated for February
Basel Committee 'will move' to more sensitive leverage ratio
Regulators want to switch CEM for SA-CCR, conference told
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
EU uncleared margin rules expected by January – EC official
European regime draws on global principles