Financial Stability Board (FSB)
The price of trust: tackling the risks of ring-fencing
Learning the wrong lesson from Lehman? Ring-fencing hikes risk of bank failure, says Credit Suisse’s Wilson Ervin – he proposes an alternative
Exchanges warn on clearing concentration
Clearing houses urge margin offset in leverage ratio, adoption of SA-CCR and recalibration of NSFR
EU infighting blocks Basel recognition of banking union
Treating eurozone as single jurisdiction could slash G-Sib capital, but the 19 member nations have differences to settle first
New risk data signals lower EU G-Sib scores
Aggregate 20% drop in level 3 assets and 7% decrease in intra-financial system liabilities reported in 2017
Swaps end-users struggle for clearing access – survey
Thirty of 44 derivatives end-users cite difficulties finding and maintaining access to CCPs
Dealers and FCMs split on clearing incentives
72% of client clearing firms say leverage ratio a clearing disincentive
Regulatory arbitrage: a crime, or a warning?
It could be unwise to ignore disproportionate regulatory impacts on specific business lines
FSB launches crypto asset monitoring framework
Metrics will focus on the financial stability risk of crypto market
Hong Kong banks fear clashing swaps margin rules
SFC proposal could complicate trades with HKMA-regulated entities and centralised treasuries
Industry split over running of new derivatives IDs
Funds object to Isda proposal, arguing it would leave ‘control’ of UPIs with incumbents
The special one: a eurozone G-Sib waiver for BNP Paribas
Experts say French bank’s G-Sib buffer could fall to 1%, saving €3 billion in regulatory capital
De Galhau: EU needs to stress test non-bank liquidity
Banque de France will examine risk of pension schemes redeeming fund assets, says governor
Industry mulls challenging Isins through global identifier
Success of UPIs could be catalyst for European rethink on unpopular derivatives identifier
Isins for swaps need ‘complete rethink’, say platforms
Three trading venues say Mifid II transparency objectives diminished by identifier choice
Regulators lean towards contractual bail-in for China TLAC
New legislation would not be required, but weak bankruptcy law could unnerve investors
Foreign banks in US dismayed by Trump tax on internal TLAC
Coupons on IHC debt issued to foreign parents will face 10% base erosion tax under new rules
Hong Kong may front-run China TLAC requirements
Chinese G-Sibs could be forced to issue in Hong Kong before group TLAC requirements apply
Europe leaves IM haircutting in CCP recovery crosshairs
No explicit ban in parliamentary text; banks say method could spark exodus from stricken CCPs
FSB recommends global governance for transaction identifier
FSB says ISO should publish and maintain standard with additional governance from CPMI and Iosco
People: Andreasen quits Danske for new role at Saxo Bank
Also: Goldman welcomes Wecker; moves at BNP Paribas; LCH’s new chief; and more
No plans to scrap systemic insurer rules, says IAIS chair
A US regulator claims Europeans asked IAIS to chart own course after FSB moved to ditch G-Sii list
Kicking the can: global insurance deal highlights divisions
IAIS hails “unified path” on insurance regulation, but Europe frustrated by US exceptionalism
The fraught search for a Libor fallback
Banks and buy side disagree over how to prepare for Libor’s death
Banks prepare for battle with Fed over G-Sib rules
Proposals would kill client clearing business, FCMs claim – but postponement is a chance to fight back