ECB invokes US legal amendment providing it with broad immunities and says it might stop using US dealers unless granted exemptions from Dodd-Frank Act rules
Follow the leader?
Chair of European Parliament's Econ committee believes CRD IV should mirror Emir corporate exemptions, but has not yet decided whether sovereign counterparties should enjoy the same benefit
Banco de España chose not to report Santander’s sovereign derivatives exposure to the EBA because it was 'not material'
The FSB warns that some regulations appear to be contrary to the spirit of the OTC derivatives reforms agreed by G-20 members – a statement some believe was prompted by a disagreement over the scope of European derivatives regulation
Everything is connected
Switch to OIS comes a year after SwapClear revalued parts of its portfolio
Dealers say they won’t join clearing houses that are not robust – and have already blackballed one central counterparty. As a result, the initial margin methodologies employed by the big rates clearers have begun to converge. Matt Cameron reports
To charge, or not to charge?
The EU council text of Emir could be voted through next week, but a group of industry associations will plead for a late - and controversial - change
Interest rate swap clearing volumes at CME leapt 2,172% between August and September, and dealers say one firm is responsible for the surge
Bankers at Eurofi conference in Wroclaw, Poland call for a wider range of assets to be eligible for Basel III's liquidity coverage ratio
Jonathan Faull dismisses suggestions CRD IV will lead to uneven application of Basel III
More than half of respondents expect regulators to back down over extraterritoriality application of margin rules
Follow the leader?
Congressman Darrell Issa attacks margin rules that threaten to isolate US banks. Foreign regulators say they have no plans to copy the proposals
Dealers say volumes have been light as market participants try to work out scope of bans – with confusion arising on index trades and the geographic reach of the rules
US tax fix to aid buy-side portfolio back-loading
European bank sovereign derivatives exposures revealed
While Basel Committee deliberates, EC proposes 'value of zero' for contingent risks associated with clearing portability
US mortgage giant says segregating variation margin will hurt FHFA- and FCA-regulated entities, and create new funding obligations for swap dealers
CPSS-Iosco guaranteed settlement requirements make foreign exchange options clearing more difficult, say participants
World Bank believes imposition of national regulations on multilateral development institutions is unprecedented intrusion on the internal operations of international organisations