Morgan Stanley
Citi continues cutting derivatives exposure
Total is down 16% from 2016, limiting impact of US leverage ratio
Business growth and HQLA cuts see US LCRs fall
Cutbacks in high-quality liquid assets and higher deposits drive reductions across the G-Sibs
US bank VAR-based charges surge in volatile first quarter
Average quarter-on-quarter increase of 23% for VAR-based capital across 11 large dealers
Bank of America and BNY Mellon suffer VAR breaches
Trading losses exceeded estimates on a single day at each dealer in the first quarter
Morgan Stanley LCR dips
Increased lending commitments boost net cash outflows
Share of op risk RWAs at US banks falls
Drops at Citi, Goldman, Morgan Stanley suggest op risk capital may have peaked
Factor models found to miss time variations in trading day
Large-cap momentum picks up after open, before close
Lord Abbett turns to Deutsche for CDSs
German lender increases share of fund's CDS portfolio
Libor death threatens to blow hole in hedges
Isda AGM: BlackRock, Fed stress need for fallbacks to marry up across rates universe
Morgan Stanley expands long-term debt issuance
Outstanding long-term debt jumps 12% year-on-year
State Street and BNY Mellon to benefit from revised leverage ratio
Two banks in line for 1.25% reduction in minimum leverage-based capital requirements
From BAML to UBS: how 15 banks stack up on ‘last look’
Disclosures show striking differences on pre-hedging, hold times and trade acceptance
Utilities turn to big data to improve pricing models
Smart meters and time-of-use rates could dampen power market volatility and improve hedging
JP, Citi may not see capital benefit from new op risk rules
Collins floor may also prevent Morgan Stanley, State Street and Wells Fargo from realising SMA savings
People moves: Deutsche Börse appoints UniCredit banker as new CEO
New fixed-income head at Mizuho; trueEX hires CTO; Deutsche fills ETF role; and more
People: Shell’s Quartermain replaces Muller
Other moves at Morgan Stanley, Gunvor, Macquarie and others
Risk Awards 2018: The winners
Morgan Stanley takes top derivatives prize; lifetime award for Xavier Rolet; Citi lands risk management award
Derivatives house of the year: Morgan Stanley
Risk Awards 2018: From inflation repacks to Formosa flows – US bank’s slimmed-down fixed-income business is gaining share
Inflation derivatives house of the year: Morgan Stanley
Risk Awards 2018: US bank takes repacks to a new level in BBC, Thames and Anglian Water deals
BAML and Morgan Stanley swaps drop $186bn on VM change
At least seven banks now using settled-to-market treatment for variation margin
Bankers lament growing global regulatory fragmentation
Piecemeal roll-out of Basel III will be “enormously costly”
US dealers wade into European CCP relocation debate
CFTC hearing warns of increased margining costs and a pre-Brexit client onboarding crunch
People: Noble shuffles board in wake of Elman exit
Shell swaps trading chiefs; ex-Dreyfus head joins Cofco; Glencore adds Aberdeen’s Gilbert to board
BAML and Morgan Stanley shift Indian P-notes to Europe
Tax changes trigger move out of Mauritius and Singapore