Europe
EU talks on prop firms leave door open to harsher pay rules
Final law could subject many firms to bonus cap, but even those that escape could struggle
The foreshocks of Brexit
As Brexit chaos continues, energy firms and traders are upping sticks and leaving the UK
FIA transfer protocol sets Brexit plans in motion
Some banks set to begin transferring clients to EU affiliates next month
Brexit uncertainty for UK and Irish power markets
Traders remain in the dark about the future of the UK’s participation in the Internal Energy Market
Brexit threatens UK-based banks’ corporate repo funding
UK banks and UK bases of global banks fear losing valuable source of NSFR cash
EU power balancing faces major changes
Three upcoming pieces of legislation will have significant effects on balancing trades for the UK, says energy expert
Lehman’s ghost: how three CCPs anchor models to crash
The Lehman crash still haunts the margin models of LCH, CME and Eurex, albeit in different ways
Brexit deal talk ‘too late’ for departing brokers
Contingency plans are past point of no return, say venues
BNP Paribas grows SFT assets 36%
French bank has overtaken Barclays to become the largest European SFT dealer
LCR gap between EU and US banks widens further in H1
State Street had the lowest LCR, at 108%, and UniCredit the head of the pack with an LCR of 179%
EU deadlock set to delay CCP resolution rules
Lawmakers disagree over whether Esma should be given new powers to tackle distressed CCPs
Corporates fear EU will spike Emir Refit reporting relief
Delegated reporting threatened by policy-maker objections to use of foreign banks
A third of eurozone banks fall short on IRB model standards
Twenty-one of 65 ECB-surveyed banks' internal model practices non-compliant with EU rules
EU bank leverage increases in H1
Average leverage ratios degrade 19 basis points in six months to June
Eurex Clearing set to lose CRO
Thomas Laux stepping down next year
Big firms deflect banks’ questions on third-party risks
From exchanges to software sellers, big players hang back on due diligence questions, banks say
EU funds net sellers of single-name CDS protection
60% of UCITS funds' single-name CDS gross notional exposures were sell contracts in October 2017
Big European and US banks cut $280bn of complex assets
G-Sib methodologies incentivise shift to simpler assets
European banks junk op risk modelling
Barclays and BNP Paribas move to standardised approach in the second quarter
Optimisation services edge closer to EU clearing exemption
Lawmakers ask European Commission to consider if offsetting non-cleared trades could be exempt
Time running out for EU Brexit temporary permissions regime
UK clearing houses may need to eject EU member positions if BoE scheme is not reciprocated by year-end
UK Treasury never analysed impact of risk weights for EU debt
Risk weight move seen as political threat to EU sovereign issuance to force Brexit equivalence deal
Kyte follows broker herd to Europe as Brexit looms
OTF provider lines up contingency plan to transfer London business to Paris entity
EU banks slash default risk estimates for corporates by 30%
Probabilities of default fall on average across 39 countries