Articles by Lukas Becker
Legal clouds hang over RWA-driven netting push
New capital requirements are making it more difficult for banks to trade with counterparties that are not covered by a netting opinion. That is spurring attempts to expand coverage, but can leave banks and lawyers on uncertain ground. By Lukas Becker
Basel Committee seeks netting-friendly replacement for CEM
Consultation on alternative to much-criticised current exposure method could start in June
UniCredit hit by ‘dangerous’ ruling in Russian swap dispute
Court sets "dangerous precedent" in allowing local corporate to walk away from swap without compensating UniCredit
Active funds list causes furore
Listed firms complain about breach of confidentiality – others say they are victim of human error – after Risk publishes list of fund managers that face March 11 clearing deadline
Banks fear capital swings if Basel III kills bond filter
Filter furore
Swedish DMO raises concerns over Basel III impact on bond trading
The chief economist of Sweden’s debt office fears new rules on available-for-sale securities will make government bonds less liquid
CFTC's 60-second rule will force rejections, FCMs warn
Given a minute to accept or reject trades for clearing, FCMs warn they will err on the side of caution
First OTC clearing wave to catch 77 fund managers
List reveals 77 managers have funds that will be required to start clearing on March 11 - and dealers say up to a third are not ready to start
Australian CPDO judgment reveals S&P and ABN Amro's errors
An extraordinary Australian court judgement shines a light on the errors and deceit that led to the granting of a triple-A rating to ABN Amro’s Surf constant proportion debt obligation in 2006. Lukas Becker reports
"Deceptive and negligent": How the first CPDO got its AAA rating
An extraordinary Australian court judgement shines a light on the errors and deceit that led to the granting of an AAA rating to ABN Amro’s Surf constant proportion debt obligation in 2006. Lukas Becker reports
Dutch counsel confident of success as S&P faces new CPDO case
The fine handed out by an Australian court last year to ABN Amro and Standard & Poor’s was a rare success for post-crisis litigants in structured credit cases. The victors are hoping to repeat the trick in Europe – but what are their chances? Lukas…
Global margin standards face further delays
Proposals to collateralise non-centrally cleared derivatives could now be subject to further consultation and impact assessment, having missed the original end-of-2012 deadline
ABN Amro and S&P could face European CPDO suit
European banks and pension funds are seeking redress over CPDO ratings, and claims against issuers of other structured credit products could follow
Dealers seek second business conduct reprieve from CFTC
Less than 1% of counterparties are ready to trade under new regime. Non-compliant firms may be frozen out of the market, banks warn
Return of the DPCs
Return of the DPCs
The unintended consequences of the UFR
Annuity dawns
Pimco: Cleared for take-off
Pimco: Cleared for take-off
Banks plan to relaunch off-balance-sheet derivatives units
At least six banks are talking to lawyers and rating agencies about reviving derivatives product companies, although AAA ratings may now be off the table
CDS market faces iTraxx clearing obstacle
Restructuring credit events would cause non-clearable contracts to spin out of cleared index trades
Saving structured finance: Dealers vie for SPV replacement swaps
The SPV swap replacement game
CFTC rules could force European funds to break the law
Breaking the rules