News
FSA urged to take direct action against liquidity swap ‘malpractice’
The British Bankers' Association (BBA) has called on the FSA to pursue individual cases of liquidity swap ‘malpractice’, rather than imposing new industry-wide regulations on the transactions
Basel trading book review delayed
Fundamental review of Basel trading book rules may not begin in earnest until March 2012
CCP interoperability not achievable in near term, say clearers
CCP interoperability will not resolve fragmentation in the OTC markets, say panellists at Isda Europe conference in London
Korean central bank seeks external candidate to run reserves management
The Bank of Korea is seeking a new head of reserves management from outside of the central bank as part of an apparent attempt to bolster efficiency and foster better relations between the central bank and other market participants. This is the first…
ECB policy would shatter big CCPs, critics warn
Plans to have CCPs based in the jurisdiction of the currency they clear would pull apart multi-currency services, experts warn, after UK Treasury challenges ECB
Video: Will trade reporting requirements under Mifid II lead to the creation of an efficient trading market in Europe?
Will trade reporting requirements under Mifid II lead to the creation of an efficient trading market in Europe?
Complexity Basel 2.5's biggest problem, Risk.net poll finds
As banks prepare for year-end introduction of new trading book rules, poll respondents single out the framework's modular approach for criticism
Rule could make OTC-cleared energy contracts 'endangered species': O’Malia
CFTC commissioner renews support for over-the-counter energy clearing tool in the face of new Dodd-Frank rules that could affect operation
BIS calls for greater vigilance over sovereign risks
Bank for International Settlements Quarterly Review warns weaker global growth outlook risks fuelling sovereign debt crisis
AMA and loss data collection on the rise at US banks
More US banks expected to employ AMA, while new stress-testing proposals increase interest in operational risk quantification among smaller banks
Video: What is the future for ETFs that provide exposure to hidden assets
What is the future for ETFs that provide exposure to hidden assets such as hedge funds, private equity and volatility?
UBS fraud: rogue trader followed in Kerviel's footsteps
Fraud went on for three years before detection, according to charges. UBS statement reveals similar pattern to SG rogue trader Jérôme Kerviel
Greece tranche decision delayed until October: Juncker
Eurogroup chairman Jean-Claude Juncker says decision to release sixth bailout tranche to Greece will be delayed until October; sovereign may default sooner than expected, says analyst
Central banks take aim at dollar-funding shortage
Co-ordinated action from five central banks eases the pressure on dollar funding for European banks, but euro/dollar cross-currency basis swap market remains under stress
ETF providers hit back at criticisms in wake of UBS losses
ETF providers have dismissed claims losses allegedly caused by an ETF trader demonstrate the instruments are risky
Video: Have ETFs developed beyond simple index trackers into complex products?
"Are ETFs complex financial instruments", is the first question in a series of videos from Structured Products magazine that address the world of exchange-traded funds. As regulators and observers try and come to grips with losses inflicted on UBS by an…
Brokers welcome Iosco commodity derivatives supervision principles
The recommendations of global regulators to harmonise commodity derivatives regulation have received praise from brokers for not trying to divide 'speculation' from 'hedging'
Sovereign debt crisis undermines LCR, critics say
Bankers at Eurofi conference in Wroclaw, Poland call for a wider range of assets to be eligible for Basel III's liquidity coverage ratio
Shell Energy chief calls for regulatory data confidentiality rules
The confidentiality of energy trading data provided to regulators for market monitoring purposes continues to concern market players and regulators alike, after August leak by senator Sanders
On the move
On the move
Market volatility may have brought UBS losses to light
The revelation of rogue trading at UBS follows a period of market volatility. That is nothing new, say risk managers
Credit Risk USA: Basel trading book regime attacked by dealers
CVA charge and Basel 2.5 rules incoherent and over-complicated, say dealers
UBS rogue-trading losses reopen old wounds
The $2 billion loss, a second public incident in three years, undermines faith in UBS's internal controls
CRD IV proposals do not deviate markedly from Basel III, says EC's Faull
Jonathan Faull dismisses suggestions CRD IV will lead to uneven application of Basel III