Non-US customers are refusing to trade with foreign branches of US banks ahead of an October 9 clearing deadline. Uncertainty over whether these entities are ‘bona fide’ foreign branches has added...
Critics say a limited provision in new WGMR rules for dealers to rehypothecate client collateral is impractical and offers no benefit to clients
Four-way agreements too difficult under Dodd-Frank external business conduct standards, say prime brokers
Insurance Risk and BNY Mellon have conducted a survey to look at how insurance companies are preparing for the new regime and the opportunities and challenges that the changes will bring.
More Nick Sawyer articles
US regulators have made a number of changes to rules on the segregation of client margin. Taken together, they could increase funding costs for clearing members – which could ultimately be passed on to end-users, writes Diana Shapiro
A preliminary protocol to enable four-way FX prime brokerage involving agency desks has been agreed ‘in principle’ and could allow agencies to scale up their activities, having been largely reduced to spot since May
In this video discussion, Duncan Wood, editor of Risk, talks to Nick Sawyer, Risk’s editor-in-chief, about attempts to price in a replacement valuation adjustment on derivatives trades
Regulators have attempted to address a flaw within Basel II that gave banks an incentive to hold assets in the trading book. But Basel 2.5 may have gone too far, and made it more attractive to place assets in the banking book instead. By Giovanni Pepe...
This paper discusses a number of diverse considerations that risk managers need to incorporate into their thought processes and recurring procedures if they are to fulfill their role more effectively in the future
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