Articles by Philip Alexander
Regulators struggle to balance global and local
Global banks merit global rules, but local banks can end up as collateral damage
In the balance: global regulation walks a tightrope
FSB evaluation could maintain international standards or accelerate their decline
Q&A: Asia caught in the Basel crossfire, says Andrew Sheng
Veteran regulator says international standards may be the wrong medicine for emerging markets
EU money fund rule threatens negative rates management tool
Constant net asset value funds may have to change format during prolonged spells of negative rates
EU prop firm capital crunch could hit market liquidity
Traders claim they would be put out of business by bank-style capital rules
Prop traders rebuffed by FCA on capital modelling
Non-banks may have to use tougher market risk approach than bank competitors
EBA urges European banks to step up IFRS 9 preparations
Banks not yet in testing phase face 32 basis point extra capital hit, report finds
Scrap the gold plate: Mnuchin goes global on bank rules
Treasury converges to international standards, but leverage ratio exception may delay Basel deal
EU rules delay sparks fears over indirect clearing
CCP members must offer new arrangements for exchange-traded derivatives in January 2018
Banks worry FRTB will fracture Asian trading desks
Rules could produce “lots of little country desks”, warns StanChart market risk head
Basel opts for aggregate bank capital output floor
Banks will have more flexibility on use of internal models, but calibration still undecided
EU regulator dampens SA-CCR reform hopes
Isda AGM: EBA acknowledges approach’s shortcomings, but warns Basel is not reconsidering
Industry divided on case for European phase-in of FRTB
Isda AGM: transition period may allow time for Basel to recalibrate rules, panellists note
Giancarlo: SLR change would cut clearing capital by 70%
Isda AGM: netting of clearing collateral would boost activity without weakening banks, claims CFTC chair
EU regulators prepare to close Brexit loopholes
Isda AGM: new guidelines aim to prevent EU brass plates with large London operations
Esma wants more detail on CCP recovery plans
Isda AGM: regulator and industry emphasise need for effective clearing house supervision
ECB rate risk stress test renews fears over internal models
Banks alarmed by short timeline and opaque supervisory use of IRRBB stress test
Dollar deposit mystery highlights non-US bank funding risks
Liquidity resilience is uncertain as offshore deposit financing replaces prime money funds
Brexit and financial regulation: a delicate negotiation
The UK needs access, the EU needs regulatory data, but a mutually beneficial deal could be elusive
Deal or no deal? US divided on EU insurance agreement
Benefits of mutual recognition may encourage Trump administration to keep Obama’s last act
Mifid equivalence delay threatens Hong Kong dual-listed stocks
HSBC, Stan Chart and Prudential shares could face trading disruption in 2018
EU banks fear fresh blow on Basel credit risk capital rules
Possible revision to standardised approach would favour US banks for corporate exposures
TLAC, sovereign risk and clearing for small firms
The week on Risk.net, December 17–December 23
Doom loop reloaded: CRR II goes soft on sovereign debt
EC dilution of Basel liquidity and market risk rules could create new regulatory arbitrage