Goldman Sachs
FCM capital requirements surge to record highs
Buffers over minimums fall to decade lows as requirements outpace capital
Goldman tripped up by VAR in Q4
BNY and Citizens also record backtesting exceptions
US banks trim long-dated bonds to 10-year low
Medium-term securities reach record as 5+ year share hits decade low
US banks lose appetite for Treasuries as G-Sibs turn to trading book
Two-year surge in non-trading USTs plateaus as HFT bonds tick up
QIS futures debut – but only simple ones for now
Goldman and Societe Generale kick-start Eurex market with equity baskets
Exposures with undisclosed risk-weights hit new highs at US banks
Assets in the ‘other’ category of standardised risk-weights grow to $700bn
Credit derivatives surge to nine-year high at top US banks
$1.35 trillion notional added as banks ramp up CDS activity
Equity VAR hovering near four-year high at US banks
Gauges of stock market risk rise 36% in just one year
US G-Sibs post record secured finance flows in LCR
Q3 spike continues long-term shift toward secured funding and lending in liquidity stress scenario
US G-Sibs diverge on cashflow volatility
Maturity mismatch add-on hits peak at two banks and trough at two others
Morgan Stanley set for biggest reset under softened eSLR
Bank’s leverage utilisation to fall from over 90% to 64% under new buffer
CVA capital charges – the gorilla in the mist
The behaviour of CVA risk weights at US banks in 2020 hints at the impact of the Basel III endgame
Record $95bn in equities sits with US banks as OTC margin
Stocks on par with US Treasuries in top dealers’ collateral trove
US G-Sibs rediscover appetite for less-liquid HQLAs
Aggregate eligible Level 2A assets rise to $110bn while median LCR falls to record low
Pimco piled into euro put options in Q2
Counterparty Radar: EUR/USD buying spree takes Pimco’s FX options book to $7 billion
Citi first to adopt Fed’s two-year SCB average in capital target
Bank’s 12.8% CET1 target reflects proposed averaging rule, pushing capital goal up $2.4bn
Ditching Fed’s method 2 could unlock $112bn for top US banks
JPM and BofA could see largest capital gains if US G-Sib surcharge approach dropped, amid speculation of a framework overhaul
People: BNY taps Nasdaq CRO for enterprise risk, Hoornweg steers StanChart CIB solo, and more
Latest job changes across the industry
Talking Heads 2025: Who will buy Trump’s big, beautiful bonds?
Treasury issuance and hedge fund risks vex macro heavyweights
Goldman’s credit reporting proposal sparks criticism
Shift to end-of-day and next-day reporting on large portfolio trades seen as step back for transparency
Goldman’s Houghton on Asia’s watchful bondholders
Talking Heads 2025: Fed independence and debt concerns could fuel new moves away from US debt, says Apac Ficc co-head