EC's CRD IV says dealers can ignore portability risks


It's been rare, in the post-crisis environment, to find a banker who will argue regulatory reform doesn't go far enough – but dealers have been shocked by the European Commission (EC) stance on portability, laid out for the first time on Wednesday in CRD IV, the text that will implement new capital and liquidity rules in Europe.

Portability means one dealer commits to accept clearing clients from a defaulting competitor, a potentially huge contingent funding obligation that has dissuaded many

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Switching CCP – How and why?

As uncertainty surrounding Brexit continues and the impacts of Covid-19-driven market volatility are analysed, it is essential for banks and their end-users to understand their clearing options, and how they can achieve greater capital and cross…

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