North America
DB USA undershoots Fed capital decline by 3.4pp in DFAST 2026
Nine banks project smaller CET1 falls than the Fed
Ice rates contracts leapfrog CME SOFR in June
Ice rates open interest hits $62.3trn as euro and sterling hedging demand climbs
ETF surge shows ‘worst-of’ autocalls have life in them yet
Assets in older structures have caught up with vol target versions that looked set to dominate
RJ O’Brien transfer propels StoneX into top 10 FCMs
Customer funds jump 61% after futures services move across
SocGen FX forwards trading rockets with US fund managers
Counterparty Radar: Surge in French bank’s FX forward volumes propels it to second spot in Q1 2026
CFTC backs clearing exemption for risk reduction runs
CCP sources concerned about switch to bilateral trades, as other regulators also soften rules
DFAST averaging reform would hit 75% of tested banks
Sixteen out of 22 lenders tested in both 2025 and 2026 would face higher CET1 depletion
Eleven US banks end DFAST at key capital lows
BMO US, RBC US and TD US only firms to also stay at nadirs across leverage and SLR ratios
EUR vs USD stablecoins is the wrong debate
Market structure and regulatory cohesion is at the centre of the stablecoin liquidity evolution, says Flow Traders’ digital assets head
DFAST 2026: SCB freeze denies 16 banks capital relief
Lower DFAST depletion would have cut buffers for many, but First Citizens avoids higher SCB
Affiliate repo accounts for sixth of US market – OFR brief
Internal trades carry significantly lower haircuts than non-affiliate repos
Six banks fall short of full DFAST buffers
DB USA and HSBC North America post largest all-in CET1 shortfalls, while new entrant First Citizens also misses
Commodity CCPs buck trend with IM breaches in Q1
Precious metals and energy clearing units stand out, as most CCPs avoid breach surge despite Iran war turmoil
Iran war drives record CCP margin calls
NSCC, CCIL and CME among clearing houses reporting peak VM and IM calls in Q1
Fed tailoring review could ease requirements for six banks
Deutsche Bank USA, American Express among biggest beneficiaries of proposed thresholds update
LFI revamp gives banks best ratings yet
Four in five firms clear new standard as matters requiring attention halve
Europe ‘lagging behind’ US in crypto markets
Mica made Europe first mover, but rapid US adoption leaves the region trailing, market participants say
Fifth Third, Flagstar EVE bets diverge in Q1
Comerica deal flips Fifth Third rate-risk profile
Swap customer funds hit record in May at US FCMs
Wells Fargo, BofA see sharpest upticks; Barclays and BNPP reach new highs
Huntington CRE book jumps again after Cadence buy
Acquisition lifts property exposure by 60% as delinquencies reach eight-year high
XTX Markets’ US sales head joins rival IMC Trading
Benjamin Klixball takes up new role at Dutch prop trader in New York
Double, but no trouble? CVA capital hit may lack clout
Industry opinion mixed around Basel III endgame derivatives charge
Top US banks load up on derivatives in Q1
Credit, commodity and interest rate notionals balloon
Goldman breaks with peers in $50 billion long-term securities push
Wall Street behemoth doubles holdings of 5+ year debt as other G-Sibs continue to shorten duration