Europe
For collateral, can TINA become TIA?
US Treasuries’ dominance as collateral in repo and derivatives is no longer set in stone, argues economist
Oil clearing volumes surge at Ice, CME
Ice Europe nears Brent clearing record midway through March
Iosco chief talks cyber, AI and clearing
Buenaventura discusses Iosco’s role in aiding market resilience and cross-border co-operation
Interest rate crosswinds buffet IRRBB teams
Political intervention and rapid-fire law changes are skewering bank models for forecasting cashflows
LSEG’s TradeAgent to challenge swap confirmation monopoly
Post-trade platform aims to extend clearing efficiencies to bilateral markets beyond SwapAgent
Methodology change drives Eurex liquidity obligation to record
Limiting offsets to private-sector securities pushes estimated hypothetical obligation up 79%
EBRD treasurer Alex van Nederveen retires
Felix Green set to replace 30-year bank veteran later this month
ForexClear stress losses surge as member concentration rises
Top five member share of IM jumps 9pp as stress losses hit six-year high
Long way round: EU banks lament credit spread saga
EBA ditches some of banks’ preferred qualitative reasonings – and shortcuts – for CSRBB exclusion
Banks urge EBA to delay risk benchmarking amid Iran conflict
Risk managers say hypothetical portfolio exercise clashes with severe market turbulence
Morgan Stanley makes cuts to real money FX coverage
Departures from London-based team came as bank was reportedly shedding 2,500 jobs
Iran conflict squeezes hedge funds’ short inflation bets
Rising gas and oil prices have sent headline inflation soaring with some funds being stopped out
EU officials tamp down hopes for bank capital relief
Capital cuts are not a done deal in EC’s review of competitiveness, despite US deregulation
EU regulators clash over ceding supervision to Esma
Belgian and Spanish regulators differ on drive for centralised oversight of cross-border firms
Hedge funds stopped out on euro steepener amid Iran conflict
Gas price rises flattened 10s30s euro swap spread, forcing investors to cut positions
Nykredit retail banking risk-weight hits nine-year high
Retail banking risk-weight jumps to 46%, second only to commercial
EBA guidance prompts banks to rethink CSRBB perimeters
Banks will likely have to expand their credit spread risk coverage following recommendations
Mob rule: populism’s rise pits banks against the people
Trump and fellow mavericks are reshaping politics, leaving banks scrambling to adjust to new and unpredictable risks
Eurex mulls ‘integrated’ prediction market
Dividend derivatives seen as template for event contract expansion
After market whipsaws, banks put new twist on QIS options
Variable strike options aim to catch recoveries after volatility spikes
Broker quoting gap keeps Eurex-LCH basis alive
Lack of differentiated prices helps retain CCP basis