Standard-setter decides trades can still qualify for hedge accounting when voluntarily novated to a CCP, but experts warn wider stance on novation could cause trouble
Trades cleared voluntarily would not be protected by hedge accounting under IASB proposals
Credit Suisse is trying to halve risk-weighted assets for its fixed-income division. That has been painful work – businesses and clients have been cut – but Gaël de Boissard says the bank is now closer...
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 Novation articles
Middleware provider MarkitServ now in line with industry standard - two months after initially planned and more than three months after rival Ice Link.
Dealers, buy-side firms and industry associations have made voluntary commitments to improve aspects of derivatives operations in a series of letters to the Federal Reserve Bank of New York. But how will these commitments evolve as more binding rules...
Revised rules replace laborious consent-then-confirm novation process
As the US Congress moves to boost derivatives clearing requirements, an industry panel has called for regulators to investigate a move towards clearing and netting across US power markets and to clarify the legal uncertainty in the area
The problems facing pension funds that want to novate – or alter – their longevity swap arrangements as part of a subsequent buyout gives established players such as Legal & General a distinct advantage, according to Simon Gadd, managing director...
Mark Beeston explains the evolution of novation processing from an email-based system to fully automated consent through T-Zero, which combines front-office connectivity, workflow for all novation operations and a real-time link to the DTCC Trade Warehouse...
Technology vendors last month reported a significant upturn in activity among buy-side firms looking to meet a February 28 deadline for processing credit derivatives novation consents electronically. Novations involve the transfer of rights in a trade...
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
USA, 9th Dec 2013
USA, 10th Dec 2013
UK, 18th Dec 2013
UK, 12th Feb 2014
UK, 13th Feb 2014
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