News
Volumes of swaps trades between US and Asian firms recover
A recent Dodd-Frank-led decline in swap volumes between Asian and US counterparties has been reversed following CFTC intervention
Philippine early implementation of Basel III capital ratios politically motivated
The decision to bring full Basel III compliance in five years ahead of the final deadline is based on politics rather than economics, according to one risk manager
RMB/Africa currency hedging sees ‘substantial’ growth in past 12 months
Increasing levels of trade between Africa and China have driven the emergence of an increasingly active RMB derivatives market
Hong Kong insurers hedge out their US dollar exposure
Insurers in Hong Kong are revising their long-term policy of not hedging out their US dollar exposures
CFTC 'way off' in estimates of position limit costs
Regulator estimated first-round costs at $100,000 - but some dealers claim to have spent $750,000
FSA proposals to ease Icas modelling burden raise questions over inclusion of Solvency II risk margin
Suggestions that regulator is already beginning to apply Solvency II assumptions to capital calculations
Fatca delay simply “smoke and mirrors”
Moves by US authorities to delay implementation of portions of Fatca provide little relief for institutions
Fatca delay caused by IGAs, expert says
Another delay in Fatca timelines is as a direct result of IGAs, one expert warns
S&P Smit 40 Index tracks 'Next 11' emerging markets as investors look beyond Brics
S&P Dow Jones Indices index tracks the four largest economies in the Next 11 in a reflection of growing demand for broader emerging markets exposure
CFTC could force funds to break US or European law
The CFTC's broad definition of a US person could leave European hedge funds facing conflicting rules
Banks cut commodity VAR as regulatory reform bites
Basel capital rules and regulatory reform stymie risk appetite of major banks in commodities
Risk-based approach "remains the foundation" of bank capital, says Basel Committee's Byres
Risk-based capital creates right incentives for banks, according to head of Basel Committee secretariat - but critics claim supervisors are making models less risk-sensitive
China to widen RMB trading band again before end-2012
A speaker at FX Week Asia argued that further liberalisation of the RMB was on the cards in the near future
Rule changes make it harder for small firms to use CCPs - Risk.net poll
Esma's decision to make indirect clearing an optional service could leave smaller firms without clearing access, according to a poll of Risk.net readers
Solvency II could be dangerous for whole economy, expert warns
Axa CFO warns of the counter-cyclical tools in Solvency II
Solvency II delays have no impact on competition for niche insurance firms, expert says
Ferma forum hears that Solvency II delays will not affect competition
Adoboli trial explores complicity and culture at UBS
Testimony in rogue trading trial exposes slips in risk management
Risk management being complicated by regulation, expert tells forum
Risk managers are facing greater complexity because of regulation and other issues, Ferma is told
Changing hats - November 2012
Arrivals and departures in the operational risk and regulation businesses
CROs must bypass glass ceilings, forum hears
Ferma conference hears that CROs must try to get access to senior management
EU elections could derail Solvency II development, warn insurers
Solvency II must be completed this parliamentary term, insists Econ chair Sharon Bowles
CFTC still facing tough to-do list
Regulator has finalised 39 rules but 14 remain at proposal stage - including six that have been outstanding for more than 500 days
Adoboli allowed to suspend $1 billion loss, court hears
Kweku Adoboli had permission to suspend a loss of $1 billion, a London court heard today
Korea to miss OTC clearing deadline
It is ‘highly unlikely’ that Korea will meet the deadline to start clearing OTC derivatives by January 1, 2013 due to legislative delays, according to market participants