North America
Sharper economic picture sets scene for dollar swaps rebound
Razor-thin bid/offer spreads and slim post-April trading volumes give way to an uptick in August
US MMFs clear record 37% of repos through FICC
Trades executed via sponsored model reach $1.1 trillion in July
NSCC default fund surges to record $19.8bn in Q2
Q2 spike pushes resources past pandemic-era peak
Johnson warns of governance vacuum as she leaves CFTC
Lack of commissioners risks stalling rulemaking at critical juncture for new crypto initiatives
Future proof: can FMX-LCH platform prevail?
A year into FMX Futures Exchange, Treasury futures volumes are low, and firms aren’t cross-margining
RBC US inches towards category III status on assets build-up
Canadian lender’s US subsidiary on course for stricter liquidity and leverage requirements in Q3
Is 2027 the new 24-hour trading target?
Slew of technical issues and dearth of SEC staff compound exchanges’ reluctance for round-the-clock equity trading
Eurex plans October launch for QIS futures
Long-only European equity strategies will be first out of the gate, with more to come
JPM piles into Treasuries with record $72bn AFS surge
Portfolio reshaped with shift to medium-term maturities as Q2 glut boosts holdings to all-time high
Marex customer funds steady despite short-seller claims
Marginal dip following Ningi report offset by rebound in following weeks
US G-Sibs’ liquidity buffers swell amid record net cash outflows
Median LCR falls to 114.7%, lowest level since pandemic
US banks notch most VAR overshoots since pandemic
Dealers’ gauges underestimated trading inventory price swings on 34 occasions during Q2
Large US banks pile up CVA charges amid tariff shock
JP Morgan’s CVA risk-weighted assets saw largest jump in second quarter since Covid-19
As Fed meets, hedge funds buy ‘lottery’ FX options trades
Options bets reflect cautious pessimism over the dollar ahead of Jackson Hole conference
Foreign banks see steeper CET1 declines in US and EU stress tests
Strong starting capital buffers at overseas subsidiaries eroded by outsized hits
Double VAR breach in Q2 adds $4.1bn to JP Morgan’s market RWAs
Sixth regulatory backtesting exception in nine months lifts the multiplier above minimum for the first time since Q3 2022
Ninety-one per cent of banks have specialist teams for resilience risk
Latest survey shows regulatory pressure is driving broader framing of resilience, beyond IT and cyber
Niche FX crosses pop up in mutual fund options activity
Counterparty Radar: Fund filings reveal unusual FX options crosses – some never repeated, many with unclear strategies
Algos shrugged: AI uptake still lagging in bank op risk
Risk managers acknowledge transformative potential of artificial intelligence – most, from a safe distance
Capital One books $8bn in reserves post Discover deal
Highest provision in over a decade behind first loss since Covid-19
Truist locks in $12bn long-term debt as rates hold high
Bank raises LTD and time deposits while slashing short-term borrowings
Cuts and points – how the Dealer Rankings work
Dealer Rankings 2025: We have a simple way to compare dealers. Sort of simple, anyway
Choosy dealers search for their sweet spot
Dealer Rankings 2025: No bank appears in every top 10 list, as data reveals shifting strengths
OTC books grew in 2024 but remain below peaks
Dealer Rankings 2025: US fund and insurer books were larger in 11 of 16 markets