Lukas Becker is the derivatives desk editor for Risk.net. His topics of interest include over-the-counter derivatives pricing, collateral management, market infrastructure and legal risk. He is based in London.
He was previously the Europe, Middle East and Africa editor of Risk magazine.
South African central bank wants softer treatment for wholesale funds in NSFR
Risk-weights set to jump after June 15
Hoogervorst says work on classification and measurement "has been done for nothing"
It used to mean the tearing-up of perfectly matching trades, but compression has become something bolder and more ambitious in recent months – at the same time, it has also become more confusing, and smaller banks fear they may have the wool pulled over…
US regulators have pledged to adopt the new Basel leverage ratio, but with higher minimums, sparking concerns that US banks will find it harder to compete in repo and other businesses. Lukas Becker reports
Market participants detect new mood on cross-border issues: "The two clearing regimes aren't really compatible, but neither side wants to start a shooting war"
Open to disclosure
Repo netting criteria in the revised leverage ratio may be less forgiving than banks first thought
European proposal limits risk management tools to clearable swaps only, preventing options-based hedges
Industry sources have welcomed CFTC decision to extend no-action relief for its non-US swap dealer requirements and to consult on definitions
Banks turn to lawyers for advice as CVA functions face tougher conditions than other trading desks
A poll of Risk readers finds that 56% agree the CFTC should require CCP holdings of US Treasuries to be backed by committed liquidity facilities
Banks say leverage exposure "could be halved" after PRA acts to safeguard business
Banks hope for leverage exposure relief after interest rate swap clearer fixes clash with CFTC rules
Changing hats – December 2013/January 2014
Banca d'Italia proposes to allow its banks to ignore some government bond volatility
US CCPs may need committed funding to count US Treasury collateral as liquid
Irish bank capital numbers would filter out unrealised gains and losses on government bonds