Opinion/Regulation
Europe struggles to get a grip on derivatives transparency
Mifid reporting has fallen short of US swaps data, but national regulators are partly to blame
Why Asia should hold fire on replicating EU holdco rules
China and Japan should wait for outcome of US regulatory review and Brexit before retaliating
The Fed’s heavy hand on economic equality
Monetary policy and bank regulations contribute to widening US wealth gap
A Brexit financial services deal and the 12 tasks of Hammond
UK call for turbo-charged equivalence with the EU faces big hurdles
Fed vs Fed: central bank faces traps of its own making
Fed’s balance sheet normalisation goal set to collide with its banking system resilience aims
Waiting for Giancarlo
CFTC no-action relief to be codified, but big changes on de minimis and position limits still distant
Three ways to improve stress testing
Better scenario choice, iterative testing and top-down approaches could improve performance, says Ahraz Sheikh
Banking union: big bang or damp squib?
Eurozone needs package of interrelated measures to prevent project going backwards
‘Catching the outliers’ does not always make sense for Basel
The capital impact of Basel III on Nordic banks is disproportionate to the risks they face
Russian crypto-currency will threaten AML efforts
Targeting individuals and companies could be impossible with digital currency, write academics
Esma navigates a Brexit maze over equivalence
Regulator offers share-trading reprieve for EU firms without relaxing rules for UK
Mifid’s great race to the bottom
If rules are unclear, regulators cannot prevent banks adopting the softest interpretations
A common interest in common law
Losing UK court judgement recognition in EU would not dim enthusiasm for English law contracts
Emerging Asian markets question one-size-fits-all bank rules
Nations such as the Philippines seek a more proportionate approach to level the playing field with global lenders
Regulators struggle to balance global and local
Global banks merit global rules, but local banks can end up as collateral damage
Keeping global regulatory co-ordination alive
WEF council members call for consistent implementation of current and upcoming rules
Addressing the eurozone’s ‘lemons’ problem for NPLs
State-aided securitisation of riskiest tranches could prompt purchases of loans, write ECB staffers
Repeal CEM; reform SA-CCR
Capital framework hurts clearing resilience, Citi execs argue
A 10% leverage ratio does not justify waiving the Volcker rule
Former Fed manager Christopher Laursen warns against prop trading, even for well-capitalised banks
Focus on Basel output floor calibration misses the point
Until all the final standardised approaches are known, the floor has little meaning
US learns to play the Basel game
Mnuchin report marks a US regulatory shift – from leadership to gamesmanship
Trump’s Basel stance is key for Asian banks
Donald Trump may have strengthened ties with the region, but the true impact of his administration on Asia remains to be seen
European banks tire of CVA guessing game
Continued political wrangling over Europe’s CVA exemption increases uncertainty for dealers
Feet of Clayton
New SEC chairman split between presidential deregulation agenda and filling holes in existing rules