In bilateral over-the-counter trades, some buy-side firms insist on physical segregation of their collateral – their assets are placed with a third-party custodian. But the incoming US regime will not...
The vast majority of over-the-counter trades will be cleared or collateralised in future – but sovereign derivatives users have been digging their heels in, generating increasingly painful funding and...
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.
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Dealers say they are willing to jeopardise client relationships by exercising break clauses that allow trades to be terminated early – and should receive capital relief as a result. But regulators need to be convinced. By Matt Cameron
It looks as if it may get a lot more complicated for banks to sell structured products to institutional investors in Europe, though it hasn't happened yet. For banks, read subsidiaries of foreign banks; and for institutional investors, read pension funds...
Premature to expand use of untested collateral segregation methodology, says industry
The costs of transacting swaps with one-way CSAs mean more debt offices could join Hungary, Ireland, Portugal and Sweden
Ratings-based (RB) additional termination event (ATE) clauses in International Swaps and Derivatives Association agreements can have a significant impact on the valuation of derivatives portfolios when rating events occur. Fabio Mercurio, Roberto Caccia...
Billions of dollars in capital could be excluded under Basel proposals on derivatives DVA - with US banks hardest hit
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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