European Commission said to be close to unveiling proposal on stricken clearing houses
The first two papers in this issue focus on a particular segment of the payments landscape: card payments. Two forum papers then conclude the issue.
Dealers again seeking simpler terms after 30% drop in non-cleared notionals
CCP resolution spells regulatory failure; guidance to follow on PFMIs and CCP stress-testing
IDX panellists see reduced operational role for CCPs that will instead act as trusted oracles
Prices now "can't be explained without reference to XVAs", says Nomura credit head
Swinburne says clearing should be shielded from ratio "if Basel does not deliver"
Non-cleared notional falls $36 trillion as costs and complexity grow
Rising fees and absence of leverage ratio cause some New Zealand banks to consider direct clearing
Firms fear wider spreads, lower liquidity after May 21 frontloading date
New research finds no compelling economic rationale for central clearing
Transition will be gradual with bilateral swaps adopting new rate before CCPs
ECB board member Benoît Cœuré calls for minimum capital requirement and stress testing of CCPs
"I would be very much in favour of the concept of a Pillar 2 for CCPs", says CPMI chair
US Treasuries CCP concerned about contagion risk threat to existing members
CCP rebuffs argument that direct membership model will add to risk
Fed stress tests push US banks towards charging CVA for cleared derivatives
Chicago Fed researchers point to problems around issue of concentration margin
Putting CCP capital on the front line is a prerequisite for the EU granting clearing equivalence
This paper stuides a relevant policy question: does interoperability of cash equity CCPs also imply that it is beneficial to introduce interoperability for derivative CCPs?
Clearing house could lose up to 25% of its members without agreement
Prime brokers proposing to guarantee the performance of clients’ trades
This approach would align the interests of clearing houses and their members
Isda AGM: Role of supervisors will vary for each situation, say market participants