Articles by Duncan Wood
Backlash on the EU CVA exemption continues
The decision by European legislators to exempt EU banks from the CVA capital charge when trading with certain counterparties has infuriated regulators at home and abroad. Nick Sawyer discusses the issue with Duncan Wood
Dealers plan standard margin model for WGMR regime
Fight over margin requirements for uncleared trades is not over, banks vow, but Isda will develop a standard model for use under the rules
OTC volumes shrink as category two clearing begins in US
Clearing volumes dip as hundreds of new firms are caught by US clearing rules, but activity rebounded on June 11
Fails could jump as category two clearing starts in US, FCMs warn
Hundreds more firms will be required to start clearing in the US today, and FCMs are warning there could be an increase in rejected trades as a result
OTC Derivatives Clearing Summit: Some non-US dealers leaving buy-side trades unreported
Citadel and Fortress have found some foreign banks unwilling to accept Dodd-Frank reporting rules, conference hears
Risk’s OTC clearing survey
In this video, Nick Sawyer talks to Risk’s editor, Duncan Wood, about clearing mandates in the US and a new Risk survey on client clearing
The secret history of the OIS discounting bonanza
The Wild West
Q&A: Sylvie Matherat on extraterritoriality and central clearing
Europe and the US are at loggerheads over the territorial scope of new derivatives rules – as evidenced by a new financial stability review from the Banque de France – but agreement can be reached, says Sylvie Matherat, the central bank’s deputy director…
CFTC’s Gensler defends long arm of Dodd-Frank
CFTC chair says "it is critical" that US rules apply overseas, in article for Banque de France stability review
The struggle for consensus on European clearing addendum
The move to central clearing poses a huge documentation challenge. A standard template has been developed for European derivatives users – but will this solve the problem? By Duncan Wood and Lukas Becker
US foreign bank plans threaten bail-in system, says Finma
Cross-border resolution could be harder under US-style capital and liquidity plans, says Finma's head of bank supervision
Q&A: Mark Branson on the too-big-to-fail problem, modelling and Basel III
Switzerland went first – and furthest – on post-crisis banking reforms, making its industry a test case for the impact of the new regime. But it has not yet solved the too-big-to-fail problem, Mark Branson, chief bank supervisor at Eidgenössische…
JP Morgan manipulated VAR and CRM models at London whale unit - Senate report
Trading book capital measures were at heart of efforts to free up traders and reduce capital
Banks claim €300 billion hole in margin study
Banks call for Basel Committee and Iosco to rerun study on impact of uncleared margin rules after errors emerge
SG plans to securitise €1.9 billion of derivatives exposure
Deal is said to pay a coupon of 11% for first-loss protection – which some investors say is too low
Liquidity fears temper uncleared margin proposals
Rules see two-way posting of initial margin, but apply threshold of €50 million in counterparty risk
UBS gears up for slow getaway
A slow getaway