North America
European UST holdings overtake Asia for first time
China and Japan see declines in US Treasuries while UK holdings approach $1trn
UBS swaps funds spike 77% in August
Futures commission merchant reports highest customer funds since Credit Suisse takeover
At bigger banks, enterprise risk owns scenario frameworks
Risk Benchmarking research finds ERM teams tasked with providing effective challenge on scenario construction across risk silos
Fund giants turbocharge Wells Fargo’s FX forwards book
US bank jumps from 12th to second in Q2 2026 dealer rankings as Pimco and Vanguard ramp up trading
Equity swaps notional jumps by record $766bn at US G-Sibs
Notional rises 16% to $5.5 trillion in Q2, outpacing options growth
OCC initial margin hits record $223bn after 38.1% surge
Client net requirements nearly double in Q2 as ECC and HKSCC also set new highs
JP Morgan leads US banks to highest derivatives exposure in a decade
BNY, Goldman and Wells Fargo at all-time highs
CCIL leads CCPs with record margin calls
ECC calls most margin in five years ahead of first emissions auction
Limit band risks stale prices in 24/7 markets, SEC warned
Roundtable participants say proposed restrictions could leave stocks trading at unrealistic values
Liquidity risk spikes at Eurex, JSCC, NSCC
New highs for stressed payment obligations set at three CCPs
JP Morgan drives US G-Sibs’ equity shorts to record $356 billion
Bank accounts for nearly half of Q2 increase as rising equities push up short liabilities
NSCC issues record $27.6bn margin call in Q2
Required IM hits all-time high as posted cash nearly doubles
Major US banks’ equity collateral surges to record $140bn
Stocks overtake Treasuries as fourth-largest OTC collateral type
DB USA’s cleared OTC notional surges eightfold in Q2
Revival of FCM propels Deutsche’s cleared OTC derivatives to fourth-largest among non-G-Sibs
Morgan Stanley FCM capital surges to record $26.7 billion
July’s $6 billion increase is largest in firm’s history, despite lower capital requirements
CBLR overhaul opens door to 348 more banks
Only 60 community banks still excluded from opting into leverage ratio-only requirements
More dealers enter OTC market – but are there enough?
Dealer Rankings 2026: Data shows bigger list of sell-side names in many markets; also suggests largest buy-side firms may be short of options
CME aims to offer client UST cross-margining internally in 2027
CCP has filed initial proposal with SEC; wants to offer more products than joint FICC programme
BofA’s Level 2 HQLAs triple in Q2
Less liquid assets make up highest share of buffer in three years
AmEx debuts with second-lowest unadjusted NSFR
Category II transition will likely reduce funding cushion from 2027
Options vanna positioning echoes 2024 vol spike, banks warn
Extreme negative position could exacerbate vol response in US equity selloff