News
MassMutual drives JP Morgan’s FX forwards surge with insurers
Counterparty Radar: Bank’s total values rise 72% in Q4 to crack top 10 dealer rankings for first time since Q2 last year
EU active account rule may impose costly CCP basis
Buy-siders say end-users could be forced into volatile Eurex/LCH basis at the worst time under EU proposals
UK pension fund buyouts frustrated by ‘dirty’ CSAs
Contracts allowing schemes to post corporate bonds as collateral are obstructing risk transfer to insurers
EU Council backs Emir exemption for corporates
Leaked doc shows majority of members want to keep intra-group reporting relief introduced in 2019
BNPP appoints new head of US and CAD interest rate swaps
Eric Duclos joins from Crédit Agricole
US regionals need at least two years for TLAC transition
Market participants think issuance will be feasible for largest, but only in calmer conditions
Hedge funds raise stakes in fight over dealer rule
Two prominent industry bodies file legal papers in key court case over SEC’s proposed extension of dealer definition
Regulatory confusion clouds first annual IM recalculation
Firms dropping out of scope may need to continue posting non-cleared margin in some jurisdictions
Dora ‘critical tech vendor’ designation could cast a wide net
Experts think cloud services, data providers and software firms are all in regulators’ sights
Eurozone needs harmonised resolution tools, officials say
Commission proposals could bolster stability and common deposit insurance plans, say supervisors
FMIs pose greatest challenge for operational resilience tests
Risk Live: Calls for large-scale industry exercises to plan what happens if major CCPs go down
New BoE rules could force banks to cull multiplying models
Risk Live: Model risk management to become more labour-intensive, as model definition is broadened
CDS auction-rigging lawsuit set to proceed
US judge clears way for case in which pension funds allege dealers manipulated CDS settlements
Barclays retools inflation desk with two senior hires
UK bank raids Deutsche Bank and JP Morgan for new regional heads
Risk managers mull Basel-style climate standards
Risk Live: Splintered approach to stress-testing across jurisdictions “very, very worrying”, says risk expert
Risk managers warn of emerging geopolitical crisis in Asia
Risk Live: Rising political tension between China and Taiwan has bank risk management teams on high alert
Forced CS merger casts doubt on use of resolution regimes
Risk Live: Spreads on European AT1 bonds still wider than before March bail-in
Inflation could persist ‘for a very long time’
Risk Live: Buy-side risk managers say stagflation threat remains
GFXC fosters global awareness of T+1 impact on FX
Risk Live: Many non-US firms yet to realise FX implications of the country’s shift to shorter settlement times
FCA may offer its market data to surveillance tech start-ups
Risk Live: Regulator concerned rapid AI adoption will favour incumbent vendors; aims to launch sandbox
Simm’s first off-cycle rejig hits non-cleared rates
Recalibration lifts initial margin for some products by 37% after year-end volatility forces update
T+1 to increase cash drag and funding costs, investors warn
Faster settlement will create cash shortfalls for non-US asset managers
Saba picks a fight with BlackRock over closed-end funds
Hedge fund kicks off new proxy campaign with letters citing ‘gruesome’ losses
Basel’s IRRBB shock scenario update hit by US crisis
Recalibration of shocks had been touted for Q3, but wider rethink may now cause delay