Leverage ratio
Take care with repo market, ECB's Bindseil urges
Banks claim new rules will force repo business into hands of hedge funds
US eases leverage ratio impact on swaps
JP Morgan says new approach boosted ratio by up to 20bp
Repo costs rising as a result of leverage ratio
Low-margin, high-notional products being repriced says Pimco's Bill De Leon
Regulators worry about bank deleveraging
Officials would "very much prefer" industry to raise capital instead
Banks call for CCPs to act on compression
Revamped service at LCH.Clearnet has $200 trillion target for 2014
Foreign banks say new Fed rules could force them out of repo markets
Repo and securities lending “will be the first casualties of the new Fed standards”
In-depth introduction: Leverage ratio
Banks are under pressure to reduce the gross value of their derivatives portfolios, spurring greater use of bilateral compression exercises - and tougher standards in the US could put banks there under more pressure than their peers. By Lukas Becker
Bilateral compression takes off as banks tackle leverage
It used to mean the tearing-up of perfectly matching trades, but compression has become something bolder and more ambitious in recent months – at the same time, it has also become more confusing, and smaller banks fear they may have the wool pulled over…
US banks fear competitive impact of higher leverage ratio
US regulators have pledged to adopt the new Basel leverage ratio, but with higher minimums, sparking concerns that US banks will find it harder to compete in repo and other businesses. Lukas Becker reports
Repo netting curbs threaten government bonds, say dealers
Repo netting criteria in the revised leverage ratio may be less forgiving than banks first thought
Isda forced to rework year-old standard CSA
Regulation hits key element of landmark collateral contract - but planned revisions will reintroduce settlement risk
Basel leverage ratio may force CSA restructuring
Cash collateral can only reduce derivatives exposure if it matches the currency of the underlying swap, threatening existing CSAs and even the new standard CSA
Basel said to be weighing leverage ratio U-turn
Cash collateral may be allowed to bring down derivatives exposure - and repo treatments could also be softened, according to three industry sources
PRA protects clearing from leverage ratio hammer-blow
Banks say leverage exposure "could be halved" after PRA acts to safeguard business
SwapClear to restart compression in leverage boon for banks
Banks hope for leverage exposure relief after interest rate swap clearer fixes clash with CFTC rules
Risk USA: Regulators cannot hide from bank models, says Osfi’s Zelmer
Leverage-only approach would set prudential rules back 50 years, warns senior Canadian regulator
Leverage and CCP capital proposals will hurt clearing – Risk.net poll
Four fifths of respondents to a new Risk.net poll think proposed changes to the leverage ratio and CCP capital rules will make it uneconomical to become a clearing member
Regulators pine for the simple life
Prudential regulation is too complicated, the Basel Committee has conceded - but that does not mean it will embrace an all-powerful leverage ratio. By Duncan Wood
Leverage rumpus: Banks protest impact of ratio revisions
Client clearing, repo markets, credit derivatives – the leverage ratio casts a shadow over them all. But the overarching complaint is that the ratio should remain a backstop, and it’s a point on which many regulators agree. Lukas Becker and Tom Newton…
Leverage ratio changes threaten European clearing model, industry warns
Proposed revisions appear to catch back-to-back trades that are used to get exposure into European CCPs
Barclays leverage explosion baffles experts
Regulatory specialists unable to explain jump in leverage exposure at UK bank - the incoming ratio lacks clarity, say critics
Federal Reserve adopts Basel III for US banks
Fed Board unanimously votes to introduce new capital requirements as of January 1
Basel leverage ratio would double up collateralised OTC positions
Ratio could be a 'game-changer', dealers warn, as Basel Committee proposes counting received collateral as well as derivatives exposures
BoE's Haldane says UK could help redefine global banking rules
Andrew Haldane says UK is in a position to lead with fixes to Basel III, tightening remuneration policies and removing barriers to bank account switching