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European funds wary of stress-test ‘straitjacket’
As Esma finalises guidance, some fear a one-size-fits-all approach
Libor to become third-country benchmark under no-deal Brexit
UK-based reference rate would need to gain EU approval by end-2019 to avoid “unthinkable” disruption
Risk of no-trade lists as banks leave Brexit plans late
European clients could face bottleneck of contract transfer requests from relocating banks
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Risk Quantum
Data insights, delivered daily
Risk Quantum finds insights in data. The service tracks the public disclosures of over 120 banks, funds, insurers, corporates, and central counterparties – as well as reports from prudential and markets regulators – in Asia, Europe and North America.
Editors' choice
Do or die – asset managers take up data science
Firms are scanning an ocean of text and images, as well as big number sets, to grab an edge
Big Figure
Sonia surges
The Bank of England working group on sterling risk-free reference rates, which selected the Sterling Overnight Index Average as its preferred benchmark, has been working to catalyse a broad-based transition to Sonia. The figures are looking good: large increases, comparing quarters in 2018 with a year earlier; the first quarter of 2018 with £4.2 trillion gross notional, massively up from the first quarter of 2017; the second quarter of 2018 with £8.3 trillion gross notional, also much higher than the year-earlier quarter; volumes massively dominated by tenors below two years, but larger slivers for tenors between two- and five-year and above starting to become visible in this year’s data.
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Comment
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