News
FCA names 'skilled persons' for RBS lending review
Promontory Financial and Mazars will examine evidence
Insurer global capital standard unfairly constrains loss-absorbing capital instruments
Narrow definition of qualifying capital conflicts with existing regulatory regimes, experts warn
WEF Global Risks report warns of internet 'trust crisis'
Loss of trust in internet could equal 2008 credit crunch, report warns
JP Morgan finally paying cost for unethical behaviour, expert warns
JP Morgan's fourth-quarter loss highlights reputational impact of scandals
Banks and regulators 'must take Bitcoin more seriously'
Industry unclear on future of Bitcoin
L&G blames low interest rates as it quits UK retail structured products
Legal & General exits the market following a reported decline in sales, putting an end to its distribution of Barclays-backed plans
FDIC resolution powers won't stop bail-outs, say academics
Professors tell a US Senate subcommittee the liquidation rules will not help and may create more difficulties
Shanghai Clearing House becomes fifth in Asia to start OTC clearing
First CNY interest rate swaps cleared in China
HSBC, RBS and SG to offer delegated reporting
The trio join five other banks in offering to report clients' trades to a trade repository on their behalf
Reinsurance sidecars evolving as competition for third-party capital hots up
Sidecars mimicking ILS funds to lure investors entering collateralised reinsurance space
'No appetite to reopen Solvency II' in face of global capital standards - Balz
Omnibus II rapporteur fears additional burden of global quantitative requirements
Former Citi COO John Havens resurfaces at hedge fund Napier Park
John Havens, previously chief operating officer at Citigroup, has joined hedge fund Napier Park as a partner and non-executive chairman
Risk awards 2014: HSBC wins top house
The UK bank wins for the growing ambition of its OTC capabilities, as Risk publishes its fifteenth annual awards
Nepal central bank cautious on Basel III counter-cyclical buffer
Central bank to study need for counter-cyclical buffer in a developing economy
JP Morgan takes $1.5 billion FVA loss
The US bank announces a one-off FVA primarily due to uncollateralised derivatives receivables
Morgan Stanley's 2013 maturity structured products deliver healthy returns
Six Morgan Stanley retail products maturing in 2013 produced annualised returns of 11–14%, while the bank's worst-performing growth products came in flat to the market
Basel leverage ratio may force CSA restructuring
Cash collateral can only reduce derivatives exposure if it matches the currency of the underlying swap, threatening existing CSAs and even the new standard CSA
Basel III likely to create further consolidation in Kazakh banking sector
The Kazakhstan central bank's intention to begin implementing Basel III from 2015 is likely to speed up the banking sector's current consolidation phase
Pension funds call for clearing exemption extension
Funds cite inability to post non-cash variation margin as grounds for further relief
Commodity traders not too big to fail, suggests FSB report
Trafigura, Vitol and other trading houses unlikely to be captured by proposed criteria for global systemically important financial institutions
Oil majors step up commodity derivatives market making in Asia as banks cut back
Handicapped by tighter regulations, banks have ceded derivative market-making share to oil majors such as BP and Shell
Industry welcomes footnote 513 no-action extension
Industry sources have welcomed CFTC decision to extend no-action relief for its non-US swap dealer requirements and to consult on definitions
Too-big-to-fail problem solved, claim leading industry figures
FDIC's single-point-of-entry method applauded but concerns still linger
CFTC-Ferc deal leaves enforcement question unanswered
Agreements reached under US Dodd-Frank Act fail to address critical issue of enforcement