Latest
On cyber risk, tech debt is big banks’ top challenge
Risk Benchmarking: Fragmented stacks make identifying vulnerabilities harder; manual workarounds increase human errors
People: MUFG hires AI strategy head, Wells Fargo builds up QIS, and more
Latest job changes across the industry
LFI revamp gives banks best ratings yet
Four in five firms clear new standard as matters requiring attention halve
Trading desks urged to bolster cross-market surveillance
Artificial intelligence could help track market abuse across different instruments and venues
Weekend staffing looms as 24/7 trading hurdle
Out-of-hours coverage was “not an easy task” for CME’s continuous crypto launch
Esma denies need for new competitiveness mandate
MEP wants explicit requirement; Esma official says it’s already covered in existing rulebook
US regulators cut FRTB’s IMA capital hit by 59%, Isda finds
Trade body pushes for further changes to cross-product netting, default risk charge
Clearing banks pick holes in VAR-based CCP margin models
New models ease cliff effects, but banks say they are less predictable and prone to undershooting
Europe ‘lagging behind’ US in crypto markets
Mica made Europe first mover, but rapid US adoption leaves the region trailing, market participants say
Hard day’s night: Kalshi’s round-the-clock enforcement head
Robert DeNault wants market-leading tech to handle up to 40 insider trading cases at a time
European banks disclose €120bn of private credit exposure
Deutsche Bank and Barclays lead disclosed totals in Q1, but reporting gaps hamper comparison
US FRTB glitch could spit out negative capital charges
Effort to recognise risk diversification between IMA and standardised approach went too far
EU lags UK on commodity position limits – RWE
German energy firm urges EU to follow UK in handing position limit powers to trading venues
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
Half of banks use scenarios to set third-party Pillar 2 capital
Risk Benchmarking study finds resilience risk less widely covered than cyber and IT disruption, but more formalised where scenarios exist
Will Kalshi and Polymarket win over prop shops? Don’t bet on it.
A few market-makers – Jump Trading and Susquehanna among them – are dabbling in prediction markets but most are holding off due to patchy liquidity and legal uncertainty
Why do prices jump?
After years of investigation, we still aren’t sure, says Jean-Philippe Bouchaud
Fifth Third, Flagstar EVE bets diverge in Q1
Comerica deal flips Fifth Third rate-risk profile
Euronext, LCH back Esma as exchange super-regulator
National oversight hurts Europe, exchange officials say – but some are not ready to accept a single watchdog
FactSet’s Portware expands to tackle complex FX
EMS vendor eyes automation for high-touch FX trades while adding connectivity to new venues
Don’t mind the gap risk: regulatory treatment of credit repacks
Gap risk in repackaging is not a credit valuation adjustment for Basel III capital purposes, argues senior quant Andrey Chirikhin
Swap customer funds hit record in May at US FCMs
Wells Fargo, BofA see sharpest upticks; Barclays and BNPP reach new highs
Treasury basis trade loses its allure as returns shrink
Tight spreads and rising funding costs are pushing the cash-futures basis trade out of favour
Portway leaves Barclays, destination unknown
Group operational risk head departs after 14 years at firm
Everything is connected: Santander’s US CRO shuns siloed thinking
Rise of AI intensifies links between fraud, cyber, third-party and other operational risk categories
Second line seeks to stamp its authority on AI risk
Risk Benchmarking study finds fragmented accountability for AI risk among banks, and most are short of controls to contain it
Huntington CRE book jumps again after Cadence buy
Acquisition lifts property exposure by 60% as delinquencies reach eight-year high
How vol eruption blew up Goldman’s rates book
Dealers were short payer skew from corporate and hedge fund flows. Then came the Iran war.
XTX Markets’ US sales head joins rival IMC Trading
Benjamin Klixball takes up new role at Dutch prop trader in New York
Op Risk Benchmarking 2026: explore the data
View interactive charts from Risk.net’s 61-bank study, covering risk appetite breaches, controls, scenario analysis, GRC tech and regulation
Top US banks load up on derivatives in Q1
Credit, commodity and interest rate notionals balloon
Op risk data: HSBC hit with $400m external fraud loss
Also: China’s unlicensed trading clampdown; SocGen’s insurance mis-selling woes. Data by ORX News
Double, but no trouble? CVA capital hit may lack clout
Industry opinion mixed around Basel III endgame derivatives charge
Clearers face heavy lift on CME-FICC cross-margin service
Dual registration and regulation plus uncertainty over close-outs all weigh on client offering
Goldman breaks with peers in $50 billion long-term securities push
Wall Street behemoth doubles holdings of 5+ year debt as other G-Sibs continue to shorten duration
Liquidity on Kalshi, Polymarket ‘too thin’ for institutional use
Patchy trade flows cause outsize market impact for financial events, research from Risk.net shows
Vinicius fortune: quantifying luck in the World Cup draw
Julien Guyon explains how bias, variance and luck affect teams in this summer’s tournament – and explores wider relevance for portfolio managers
Doubts swirl over future of FX cartel case
Group of banks accused of manipulation have filed for the class action to be dismissed
Amid debanking drama, banks try to say ‘no’, safely
A basic risk management tool – the ability to turn a customer away – has become a political football
Appetite breaches climb for top op risks
Risk Benchmarking: Low tolerance and heightened threat environment combine to test banks’ limits for cyber, resilience, third-party risk
Megabanks boost repo exposures after SLR reform
Volumes of repo-style transactions at US systemic banks top $2.5trn, helping drive record-low SLRs in Q1
Is alt data betting on prediction markets?
While offering a rich source of new data, legal uncertainties remain
How gatecrashers could spoil the tokenisation party
Blockchain can curb settlement risks, but that could come at the expense of new third-party risks
US regional banks tilt hedges towards lower rates in Q1
KeyCorp, Citizens lead way with heavy receive-fixed swaps portfolio
Deutsche Bank takes on custodians with automated FX service
Bank claims integration of HausFX with BlackRock’s Aladdin can help cut costs by up to 90%
The unreasonable effectiveness of randomised quasi-Monte Carlo in finance
An analysis of simulation methods shows which works best for Asian options
Op Risk Benchmarking: Banks seek a home for AI risk
Risk.net’s 2026 study sees record participation and collective unease, as banks race to incorporate AI into op risk frameworks
Third parties cause third of ICT failures, Dora report shows
First annual report shows IT risk is highly interconnected and international, say EU regulators
Erba myth: will US banks choose new capital measure?
B3E gives US banks a dilemma – adopt expanded risk-based approach, or a new standardised alternative
Illiquid assets pricing still needs expert judgement, say banks
EU regulators want more transparency in valuations, but some asset prices remain elusive
