News
Fed funds-linked swaps outstrip Libor for first time
Banks point to money market reform, Libor changes and Fed expectations as catalyst
People moves: Nomura’s Ashley takes on sole wholesale role
BGC Partners’ chief exec resigns; Barclays’ Kotecha moves to UBS; new liquidity role taken at JP Morgan; and more
EBA shelves CVA charge plans after twin defeats
Ongoing rule changes at Basel and EU could allow future bid to end corporate exemption
Ice rule change will see members post more cash
Changes pinned on CCP’s lack of access to Fed deposit account
Regulatory blitz weakening model risk management, say banks
Smaller banks’ modelling practices under growing scrutiny, but ability to comply is stretched
EBA plans reboot of FRTB’s P&L test
Authority will explore wider range of options than outlined in CRR text
Basel gives local supervisors latitude to set ECL relief
Guidance for IFRS 9 and Cecl phase-in leaves local regulators to decide on calibration
Index rule change could test bond market liquidity
More than 1,000 bonds will be removed from the Barclays US Agg on April 1
Scrap ‘absurd’ op risk RWA framework, says Sands
Ex-StanChart chief exec advocates replacing current op risk capital framework with regulator-set buffer
US lawmakers divided over Volcker rule’s impact on bond liquidity
Both sides cite Fed data to support their interpretations of prop trading ban
Margin rule mismatch spawns new VM funding cost for buy side
Settlement timing difference penalises back-to-back trades with US and EU banks
Scrap FSOC’s non-bank Sifi regime, Congress told
Designation process criticised at House hearing; senators call for review
Digital Asset enters healthcare as blockchain questions grow
Masters’ firm quietly moves beyond finance; works with PNC Bank
People moves: UBS nabs Barclays’ former Asia equity head
Plus: new equity head for HSBC; ANZ adds rates strategist; Jones leaves LME; and others
Traders wary of censure for being a ‘few bips out’
Mifid II best execution requirements intrusive and painful, say asset managers at Buy-Side Risk Europe 2017
Regulatory arbitrage fears over Mifid post-trade reporting
EU regulators may use different reporting deferral periods for large or illiquid trades
SEC nominee flip-flops on Dodd-Frank rollback
Rules mandated by statute must be adopted by regulators, Clayton concedes
Cawley quits as CEO of BGC Sef
Angelo Toglia named interim chief following Cawley's exit
Buy side may have to take on CCP losses – FSB’s König
Exempting ailing banks from CCP wind-up process could force wider allocation of losses
CCP margining not procyclical, research suggests
Excess collateral acts as buffer in 10 years of data at unnamed CCP
OFR leads US push for mandatory adoption of LEIs
Berner says his bureau could use repo-reporting project to drive uptake of legal entity identifiers
Doubts grow over US FRTB implementation
Fragmented roll-out would price European banks “out of the market”
SEC derivatives rule on the chopping block
Exposure cap for mutual funds likely to be scrapped, but segregation proposals may survive
China’s insurers wrestle with ALM as liabilities lengthen
Clampdown on overseas investment fuels pressure to find long-duration domestic assets