Credit support annex (csa)
Progress towards sovereign collateral posting has been slow. Now, US regulators are proposing to make it mandatory - for all non-US entities
No-one’s talking about existential threats to the derivatives market any more – but the more practical questions that have now taken centre stage may prove harder to resolve
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.
More Credit support annex (csa) articles
A major split has emerged between dealers over how to price derivatives backed by multi-currency CSAs. Some banks are looking to arbitrage disparities in valuations as a result, causing back-loading of trades to central counterparties to slow to a trickle....
As the global over-the-counter derivatives market moves towards central clearing, Australian dealers are preparing to follow suit, in the anticipation that punitive capital charges will be applied to those that fail to catch up. But with the costs of...
The big banks have looked to more closely integrate their collateral teams with trading desks to ensure they are posting the cheapest-to-deliver collateral on over-the-counter derivatives trades. But how practical is it for firms to always deliver the...
Three months have passed since the Basel Committee on Banking Supervision published the final version of Basel III, and attention is now firmly on implementation. The new rules will require banks to hold higher-quality capital, comply with a new leverage...
Most major derivatives dealers now accept that collateralised trades should be discounted using the overnight indexed swap rate, while a bank’s own cost of funding should be used for non-collateralised trades. But change has been much slower in South...
Dealers want sovereign clients to start posting collateral, but European Union reporting rules make that tricky. Raising funds to post collateral would have an impact on national debt figures – and the same is also true when receiving cash collateral....
Dealers are scratching their heads over how to value certain derivatives products. There is little consensus, and some bankers talk about delving into the deepest, darkest realms of financial theory and modelling. They’re not talking about exotic derivatives...
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
UK, 12th Feb 2014
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