Recovery and resolution
Capital buffers for CCPs ‘the way forward’, says CPMI chair
ECB board member Benoît Cœuré calls for minimum capital requirement and stress testing of CCPs
Regulatory intervention triggers complicate CCP resolution
Isda AGM: Role of supervisors will vary for each situation, say market participants
LCH and dealers clash over loss allocations
Isda AGM: CCP equity should not be spared, say clearing members
Investors to sue Portuguese central bank over asset write-down
Pimco and BlackRock lead bondholders in claiming the Bank of Portugal violated the law
Why raiding CCPs’ initial margin would be bad policy
A wounded CCP should not have a claim on users’ assets, says hedge fund group
EC urged to target initial margin for CCP recovery
Irish central banker says haircuts should be seen as temporary loans to CCPs in a crisis
CCPs must be able to haircut initial margin in a crisis
Initial margin is the best source of liquidity for CCPs in a crisis, argues Irish central banker
Fresh delay for EU rules on CCP spillover losses
Recovery and resolution rules will miss the revised February delivery date
FSB's predecessor 'failed miserably' ahead of crisis – Andresen
Secretary general says FSF failed to act on known risks surrounding resolution and securitisations
EU regulators split over using initial margin to resolve CCPs
Rules on CCP resolution were due last month but are now slated for February
Fed, BoE officials mount defence of resolution regimes
Resolution regimes are “not a power grab” by regulators, says BoE’s Gracie
BoE questions unfunded CCP default fund top-ups
Funds would have to be replenished during period of stress
Bail-in divisions put bank swap ratings in doubt
Europe's fragmented resolution rules threaten Moody's framework
ECB sparks bank tug-of-war over debt eligibility
Debt may only be eligible for either TLAC or central bank liquidity
Consultancy of the year: EY
Consultancy firm offers joined-up approach to ERM and operational risk issues
Clearing houses reject standardised 'skin in the game'
Overly punitive requirements on CCPs could skew incentives
HK authorities may bring shadow banks into resolution regime
Legislation expected by the end of the year
Copycat living wills may see dealers avoid US fines
Banks share law firms in bid to avoid sanctions, say lawyers
FDIC’s Hoenig seen as main threat to banks’ living wills
FDIC vice-chair is “driving this agenda to reject the plans”, says one lawyer
Central counterparties: addressing their too-important-to-fail nature
This paper argues that the current international policy measures with respect to central counterparties (CCPs) only partly address the systemic risk posed by CCPs.
Regional swaps booking replacing global hubs
Banks complain of mixed supervisory messages, but regionalisation trend is clear
CCPs need thicker skins - Citi analysis
Analytical approach suggests CCPs should be putting more of their own capital at risk
IMF’s Kiff: variation margin haircutting ‘unfair’ to end-users
Risk Derivatives Clearing: in-the-money end-users may have losses on other positions
BoE on Lehman's lessons for bank booking structure
Complex booking practices result in "worse oversight", say BoE officials