Europe
BNP Paribas poised for fresh G-Sib score cut via intra-EU waiver
Carve-out facing US pushback compressed bank’s cross-border footprint 51% in 2024
European banks swell stocks of complex instruments
Derivatives and hard-to-value holdings rose across the bloc in 2024
US dividend futures top $6bn on structured note boom
Traders also eye opportunities in options on S&P dividends as April rout creates skew dislocations
JP Morgan SE’s clearing rate plunged to 15% in 2024
US bank’s EU arm slashed €5.7trn in cleared notionals, while bilateral grew €11.4trn
PMT confirms move to new pension fund contract in 2026
Third-largest Dutch pension fund set to move to the defined contribution contract on January 1, in boost for euro steepener
UniCredit’s VAR cools as Commerz swaps convert to shares
Average reading down by over a third after Italian bank settles part of its stake in the German lender
Fewer than half of banks rate their GRC vendor as ‘good’
Enterprise Risk Benchmarking study shows banks juggling multiple systems, adding costs and complexity
Euro IR derivatives dethrone dollar as turnover hits new high
Latest BIS triennial survey shows euro-denominated contracts averaged $3trn a day in April
Reporting overhaul: the EU’s near-impossible balancing act
Regulators must weigh their desire to streamline derivatives reporting against the need to gather crucial trade data
JP Morgan SE, BPCE drive surge in European OTC derivatives
Foreign-owned dealer and French bank climb rankings on rapid notional growth in 2024
Most banks add ERM heads – but CROs keep control
Hiring tilts towards AI, cyber and model risk as enterprise risk’s remit grows faster than its reach
EU securitisation rethink to boost mortgage-bearing SRTs?
Insurer participation and a lower risk weight could help make capital savings attractive to banks
Required IM at top CCPs climbs 11% to record high in Q2
Tariff shocks and trading shifts propel surge across the board
EU reporting revamp may end up costing banks
Esma’s review into trade reporting promised to cut reporting burden and save firms money. Dealers aren’t convinced.
North American banks outpace Europeans in ERM
New research shows US, Canadian banks have more developed enterprise risk management functions
EU banks’ systemic indicators soared to record highs in 2024
Trading activity drives surge across 29 banks
Banks treat ERM as compulsory – even when it isn’t
More than 80% follow supervisory guidance or expectations for ERM, benchmarking shows
EU banks fear tumbling rates will upset their IRRBB balance
As rates decline, hedging two separate tests of vulnerability becomes more difficult
Tariff volatility triggers record margin calls at global CCPs
Aggregate average VM call in Q2 eclipsed pandemic highs
Esma needs dose of UK agility, says official
Clearing house supervisor Giusto points to BoE consultation on Emir as example of nimbler approach
UBS sterling rates head joins RBC Capital Markets
Ian Hale joins the Canadian bank as head of European inflation trading
Global CCPs suffer record IM breaches in tariff-hit Q2
JSCC leads surge ahead of Eurex, CDCC, OCC and LCH
European regulator praises Japan’s ‘smart’ NMRF manoeuvre
Comments come after revelation that Nomura is able to reverse NMRF status for risk factors
UniCredit shed €976bn of OTC derivatives notionals in 2024
Italian bank posts sole decline among EU peers through trade compression