Derivatives
SA-CCR would dent US dealers’ leverage ratios – trade bodies
Goldman Sachs, Morgan Stanley and JP Morgan would likely see the largest leverage exposure spikes
CFTC paves way for no-deal Brexit swaps transfers
Affiliate transfers would not trigger US margin rules if UK crashes out of EU without a deal
EU swap users still hope for single-sided reporting, one day
Lawmakers fail to deliver Emir reprieve but tease at potential future changes
Top UK banks cut CVA capital by £190 million
Barclays and StanChart are only two banks with higher CVA capital requirements in 2018
Cleared swaps surged among US banks in 2018
Cleared swaps accounted for 49% of notionals at end-2018
Finding potential in a volatile commodities market
Macquarie is uniquely positioned to offer clients a range of products, expertise and experience across the commodities space. Nick O’Kane discusses the bank’s approach to commodity markets and what he expects next
Giancarlo admits he may not finish Sef rules
CFTC chairman says his successor may have to finish regulation
Top 10 op risks 2019: Brexit
UK departure from European Union could result in “every operational risk you’ve ever seen”
Big US banks dropped $24trn of OTC notionals at year-end
Total notionals reported by the eight US G-Sibs stood at $196.3 trillion at end-December
Goldman Sachs cuts CVA capital 39% in 2018
On aggregate, CVA charge across US G-Sibs fell $2.2 billion to $14 billion year-on-year
Derivatives assets soar at eurozone insurers
Surge in values near year-end hint at hedging gains
US banks boost sales of CDS, reversing two-year trend
BofA Securities increased CDS notionals the most, adding $30.3 billion to its portfolio
Ring-fencing law swells Lloyds’ swap book
Recognition of intra-group trades boosts leverage exposure measure and CCP charges
JP Morgan's repo book bulged at year end
US bank added $101 billion of repo assets in three months to end-December
Cleared swaps grow 10 times faster than bilateral at HSBC
Total derivatives notionals up 25% year-on-year
Collateral management in an uncertain world
As margin reform spreads its net across the over-the-counter derivatives world, capital markets firms will need to manage an increasing volume of collateral amid changing regulation and uncertain market conditions. This white paper assesses the scale of…
Morgan Stanley derivatives exposures grow
Bank reports first increase in derivatives exposures since Q2 2017
Hedging gains boost MetLife earnings
US insurer posts $939 million in net derivatives gains in the fourth quarter
On hedging, BP and Shell set different timelines
Shell has much larger share of derivatives classified as current than BP
UBS wins approval for €32bn Brexit swaps transfer
Decision tests boundaries of deposit-taking element, after Barclays had part of its earlier transfer rejected
Fundamentals fuelling smart beta in China
As Chinese equity markets mature and become increasingly driven by fundamentals, the time is right for international investors to invest in smart beta strategies, say Vincent Yam, head of trading, and Weiwei Wang, senior derivatives trader at Guotai…
Citi grows US swaps margin share in 2018
Citi remains the largest FCM, with a 27.5% share of total required client margin
Apple derivatives use surges
Hedging derivatives notionals hit $99 billion, up from $6 billion in 2008
Asia moves: Nomura boosts Asia ex-Japan, Bank of America picks two Apac co-heads, and more
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