Leverage ratio
The limits of the leverage ratio
Data from 30 European banks shows even 6% ratio would miss regulators’ stability target
Accounting puts brake on move to daily settled swaps
New margin approach threatens hedge accounting status, could hurt effectiveness
US dollar/yen basis blows out to –100 on negative rates
Bank of Japan policy adds to domestic banks’ dollar funding dilemma
BoE: leverage ratio carve-out needed for clearing
Collateral should cut exposure, says BoE, citing need to ensure "continuity" of clearing business
Banks explore spin-offs for cleared swaps desks
Non-bank dealers would escape Basel III; private equity seen as likely owners
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
Bank market-making is more limited, but also more robust
Liquidity is a concern, but lower capital requirements are not the answer, writes SNB's Rime
Derivatives house of the year: Citi
Strong leverage ratio gives Citi flexibility to stick with full-service model
Banks pitch flexible ‘sunset CSAs’ for pension funds, insurers
New-style contracts allow clients to post government bonds as swap collateral until clearing exemption ends
US regulators told to expect VM status change
Fed, FDIC and OCC told daily settlement of swaps will cut required capital
Dodgy discounts: DVA claims fly in cross-currency market
Derided pricing adjustment is being used to undercut competition, traders claim
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 quizzes clearing banks over leverage-cutting tactic
Billions of dollars in client margin have already been moved off balance sheet
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
For a few dollars more: Japan banks tackle dollar/yen basis jump
Soaring cross-currency swap prices force dollar funding rethink
Prime brokers expanding but credit funds 'shoved out the door'
Bank overhaul of prime brokerage hurting some more than others
US regulators not backing down in leverage ratio stand-off
Yellen, Gruenberg and Curry offer no concessions to agriculture committee
Cash-22 – The regulatory conundrum
Sponsored feature: RBS
Irish central bank warns of swaps market shut-out
Official says current clearing capacity “will be saturated” by Emir demand
Dollar/yen basis blows out as leverage ratio bites US banks
Basis at its widest since European banks faced a global dollar funding squeeze in 2012
US politicians renew push for change to leverage ratio
Agriculture committee ups pressure on Fed over client margin