Articles by Paulina Pielichata
ECB finds gaps in geopolitical stress-testing frameworks
Current methods fail to properly capture impact of geopolitical stress on liquidity
Larger EU players move slower on clearing relocation, says Esma
Active accounts rule driving smaller firms onshore; regulator ready for bigger role if lawmakers want
US Basel III will provide reprieve for clearing, but no release
Worst excesses of original endgame proposal avoided, but increased capacity still seen as unlikely
Break down silos to manage geopolitics – risk managers
Risk Live: Experts says scenario planning helps identify who has information needed in a crisis
OCC default fund plans expose rift between clearers
Retail brokers – but not Robinhood – oppose new allocation of default fund contributions amid options surge
We won’t copy UST clearing mandate wholesale in UK – BoE
Senior official also indicates that any minimum repo haircuts will likely be calculated at portfolio level
Clearers face heavy lift on CME-FICC cross-margin service
Dual registration and regulation plus uncertainty over close-outs all weigh on client offering
Crisis? Which crisis? How ECB stress test failed to see Strait
Banks were told to design geopolitical shock scenarios, but some focused mainly on tariffs
ECC risk chief says Iran crisis will not delay VAR transition
Incorporating 2022 Ukraine shock ensured new margin model is robust in face of energy volatility
Banks fear US cross-product capital relief will fall short
Proposal to treat repo as futures for SA-CCR may not do enough to support UST clearing mandate
Top 10 op risks: Playing catch-up on geopolitical risk
Op risk managers downplayed prospect of a major conflict ahead of Iran war
Deutsche Bank CRO’s year of living dangerously
Marcus Chromik explains his approach to geopolitical risk, operational resilience and AI adoption
EU can handle energy price pressure – it’s been here before
Reforms made after Russia’s invasion of Ukraine have made region more resilient to energy shocks, officials say