Credit and credibility
The year of CVA
Close-out convention tensions
Banks in Asia-Pacific complain about dollar dominance in new standard CSA – prompting Isda to rethink its plans
Omnibus structure meant clearing clients of MF Global outside the US were asked to double up on collateral payments. Use of the structure for OTC markets is now in doubt
Coming up with the money
Junk-rated export lender says it has enough reserve liquidity to meet obligations while it is being wound up - but dealers are not convinced
European Central Bank offers central securities depositories (CSDs) financial incentives to sign up to T2S early; governing council gives CSDs until the end of April to agree
French central bank agrees collateral management deal with Euroclear France; entire French banking community will use new system next year
European Commission unveils three options for Eurobonds in bid to restore stability in Europe; analysts say the measures are politically unviable and ineffective
Draft language could affect the way hedge funds perform their own internal credit analysis
Loan risk manager takes newly created job as head of credit portfolio management at Citi
The DVA debate
Getting CVA up and running
Asia Risk Congress 2011: CCP users need tactical collateral planning due to Basel III capital squeeze
The increasing need for liquid, high grade assets under Basel III capital requirements will likely squeeze liquidity in the types of eligible collateral required by central counterparty (CCP) clearings, meaning end-users of CCPs need to tactically plan...
Follow the leader?
New CSA, new challenge
The latest Reserve Bank of India revised draft guidelines for securitised transactions released late September have drawn criticism from market participants for being far too restrictive, with one lawyer saying the rules in their current form would "nearly...
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
Crunch time for corporates
Time for a European Monetary Fund
To charge, or not to charge?