Articles by Michael Watt
JSE eyes OTC market as it revamps futures clearer
South African futures CCP limits member liabilities
Risk.net poll: Simpler Basel framework is needed
A majority of Risk.net readers think regulators should reduce complexity in the Basel framework, after a recent report shows wide variations in RWAs
US politicians plot national impact study for Basel III
Basel III could face more delays in the US as legislators press for a national impact study
People: Morgan Stanley announces cuts in equity and forex
Morgan Stanley cuts equity and forex derivatives staff
Basel III blues: US politicians push for new QIS
Basel III is losing traction. Already hit by implementation delays and a loss of support from senior policy-makers, some US politicians are now calling for a national impact study – mirroring developments that saw Basel II grind to a halt. Michael Watt…
Bank analysts spooked by huge gulfs in Basel RWA review
Some banks calculating measures that are 3% of the median in Basel Committee study, while others are more than 2,500%
ESRB narrows its macro-prudential tools
The European Systemic Risk Board is about to announce a slimmed-down list of potential macro-prudential tools, but who has the power to use them is still the subject of debate. By Michael Watt
ESRB fine-tunes macro-prudential toolkit
The ESRB slims down its proposed macro-prudential principals to focus on 15 key macro-prudential levers
Basel RWA review said to show banks 'many multiples' apart
Regulators are bracing for fresh criticism of bank capital modelling, say industry sources
JP Morgan report confirms RWA reduction led to CIO loss
A misguided plan to reduce Basel 2.5 RWAs and a series of management failures combined to leave JP Morgan’s chief investment office with a $6 billion loss, the bank finds
Banks fear outcome as Basel Committee wraps up RWA review
Mending the RWA machine
A cracking time: Banks turn to CDO unwinds
A cracking time
Banks told they will not benefit from LCR delay
National supervisors tell banks not to lower liquidity buffers, with market forces also pushing banks towards 100% compliance with measure
Addition of equities and mortgage bonds to LCR sparks criticism
Liquidity rules 'ruined' as regulators perform U-turn on equities, and also allow banks to include mortgage securities
BoE will consult dealers over CCP risk standards
The Bank of England will listen to the views of the dealer community and other participants on CCP risk standards, says Schooling Latter
Majority of firms expect to up IT spend in 2013
Nearly 60% of financial institutions say they will increase spending on technology next year – and new regulatory requirements are a big driver
Segreti leaves inflation for prime services role at Barclays
Ralph Segreti set to lead agency derivatives origination at Barclays, with Adam Law taking over the inflation business
Regulators hope changes will end LCR debate
A new ratio regime
Risk research: Almost 60% see increased IT spend in 2013
Expense makes sense
Raft of changes could shrink Basel III liquidity buffers
Basel Committee estimates liquid asset shortfall could be cut by 14% if a menu of potential changes is adopted
New rules designed to kill OTC market, says European regulator
Central Bank of Ireland adviser says reforms will cause an "Ice Age" in the derivatives market
Banks suspend dual-currency deposits in Japan
Returns on dual-currency and structured deposits will not be covered by state insurance scheme, Japanese FSA decides
Risk-based approach "remains the foundation" of bank capital, says Basel Committee's Byres
Risk-based capital creates right incentives for banks, according to head of Basel Committee secretariat - but critics claim supervisors are making models less risk-sensitive
Basel 2.5 behind JP Morgan’s CIO trading loss
Rehedging mechanism within the comprehensive risk measure allowed JP Morgan to reduce risk-weighted assets while increasing market risk, claim industry experts