United Kingdom
Taco trades and fake news fatigue
Is another era of ‘will he, won’t he’ numbing rates and FX traders to its jeopardy?
Bank of England floats ‘quasi-IMA’ in FRTB standardised method
Dealers welcome new route to capitalising residual risk, but it could fragment global ruleset
US Fed urged to curb reliance on its own stress-test models
Original architect of DFAST says supervisors should stop putting all their eggs in one basket
BoE revision may ease MREL load for UK challenger banks
Monzo, Starling, Metro posed to benefit from long-awaited asset threshold hike
The price is tight: UK insurers battle for buyouts
Insurers get creative as traditional pension buyout levers come under pressure
StanChart market RWAs surge to record $37bn
SVAR jump alongside higher interest rate and FX risk behind Q1 spike
People: Rustad to head SwapClear, Kimmel exits Citadel, and more
Latest job changes across the industry
Global OTC derivatives jump €72trn in 2024
Europe, UK, Canada and China hit record highs, while US banks pull back
Bank of England urged to rethink HHI concentration risk add-on
Experts think overhaul of credit risk measure should be part of PRA’s ongoing Pillar 2 review
The VAR-centric models that never were
Often spotlighted, rarely dominant – VAR plays a surprisingly small role in most IMA stacks
BoE official plays down fears of global regulatory fragmentation
Risk Live: UK expects close co-operation with US, while others express concern over Basel III endgame
Ice: EU regulation simplification not happening in practice
Ice Clear Europe president says excessive EU checks distract firms from addressing real financial risk
Deutsche Bank exec urges EU to consider competitiveness
As global rules diverge, pressure mounts on bloc to ensure reforms don’t hold back its banking sector
The IMA map: charting market risk capital under Basel 2.5
The current market risk framework refuses to be superseded. Risk.net dissects banks’ disclosures to explore how trading book capital requirements have evolved
Taking the sting out: exchanges and CCPs bolster scenario toolkits
As cyber threats ramp up, the world’s largest exchanges re-assume the worst
Technology is a double-edged sword for FMIs
Exchanges and clearing houses rely on third-party vendors for vital systems, but outsourcing can also lead to duplication and waste
EC official ‘positive’ on launching NBFI repo facility
Isda AGM: EU may follow UK with contingent liquidity facility for periods of market stress
BoE to consult on promoting clearing for gilt repo market
Isda AGM: Deputy governor also takes aim at bilateral repo haircuts and cross-CCP netting
Vendor oversight splinters across FMIs
Op Risk Benchmarking: firms grapple with “chaos” of third-party rule changes, amid growing recognition of cyber and resilience threats
Pension funds hesitate over BoE’s buy-side repo facility
Reduced leveraged and documentation ‘faff’ curb appetite for central bank’s gilt liquidity lifeline
BoE plans to link system-wide and individual stress tests
Meanwhile, ECB wants to broaden system-wide stress models to include central counterparties
Europe’s Ucits funds: Made in the USA
Counterparty Radar: EU retail funds market is a prime example of Trump’s miscalculation on trade
China’s top banks bulk up liquidity as global peers trim buffers
US G-Sibs continue to trail with lowest median LCR since 2021
Pimco’s $19 billion Sonia swaptions trade
Counterparty Radar: Bond giant springs up as largest player in space among US mutual fund managers, with Guggenheim shadowing its move