Covid
Show, don’t tell, on op resilience – Fed examiner
OpRisk North America: banks warned of “disconnect” between theory and practice
US funds regain their nerve in index CDS market
Counterparty Radar: Pimco, Western AM push protection selling to new high, as buying dips
Prime MMFs accept need for higher liquid asset ratios
But industry wants regulators to steer clear of mandatory swing pricing or gates
JP Morgan’s VAR falls to lowest since 2018
Gauge of trading risk drops 20% quarter on quarter, driven by commodities and equity desks
PGIM chops CDS book as others bulk up
Counterparty Radar: The firm’s shrinking single-name book pushed Bank of America and Citi down the rankings
Citi reorg the final note in failed swaps clearing model
Strategic shift from OTC clearing powerhouse to client support function marks the end of an era
Basel III capital shortfall shrinks to €8bn
G-Sibs responsible for 77% of the aggregate deficit
House of the year, Japan: Barclays
Asia Risk Awards 2021
Equity derivatives house of the year: BNP Paribas
Asia Risk Awards 2021
OTC trading platform of the year: Tradeweb
Asia Risk Awards 2021
Clearing bank of the year: Citi
Asia Risk Awards 2021
Technology vendor of the year: NICE Actimize
Asia Risk Awards 2021
Collateral management solution of the year: Adenza
Asia Risk Awards 2021
Bank-backed futures utility criticised as too ambitious
Osttra’s Joanna Davies urges industry to look for “quick wins”
House of the year, Australia: ANZ Bank
Asia Risk Awards 2021
House of the year, Hong Kong: Crédit Agricole
Asia Risk Awards 2021
Interest rate ETD volumes up 40% from 2020 nadir
Shorter-dated contracts push total open interest higher
StanChart’s CVA charge up 19% in Q2
Higher capital requirements also at Barclays, Lloyds and NatWest, with HSBC the only outlier among top UK banks
Level 3 assets at global systemic banks down 36% since 2014
Hard-to-value holdings down sharply over the past six years, but pandemic threw spanner in the works at some banks
Fund industry bristles at rush to re-write MMF rules
ICI questions regulators’ assumptions about the role MMFs played in Covid-19 liquidity crunch
Majority of US G-Sibs’ assets attract sub-100% risk-weighting
Risk Quantum analysis shows top US banks retrenched to lower-risk assets through the pandemic
Credit default swap market retrospective: observations from the 2008–9 financial crisis and the onset of the Covid-19 pandemic
In this paper credit market fluctuations, measured by the levels of the main and most heavily traded index instruments, are analyzed and compared with the analogous index realizations during the 2008–9 financial crisis.
OTC derivatives clearing: no turning back
Clearing advocates have plenty of reasons to feel optimistic about the future
Big US managers diverge on CDS sales
Counterparty Radar: Pimco’s sold positions surge 80%, as PGIM and others retreat