United States
At CME, required IM up 18% in Q3
Surge follows busy August and September for the swaps clearing business
OCC member default fund contributions up $1bn in Q3
Peak initial margin call was $9.9 billion in Q3
Top 10 operational risk losses of 2019
Fraud, embezzlement, tax evasion, subprime (still) and rogue trading – and Citi crops up twice. Data by ORX News
Loosening ties, pt 2: how US G-Sibs cut intra-system liabilities
Citi and Goldman expelled huge amounts of deposits in Q4 2017
Outsourced model validation: is it viable?
Consortium promises cost savings in outsourcing model validation, but some say pooling doesn’t float
How US G-Sibs shrink down at year-end
Derivatives exposure reductions make up bulk of year-end savings
Risk weight tweak could fix IFRS 9 capital clash – research
Practitioner suggests way to cancel out double-counting of Basel credit loss provisions
Ready or not – a low-carbon economy is coming
Government and business must avert disorderly move away from fossil fuels, says Geneva Association’s Maryam Golnaraghi
A new leaf: why a hedge fund manager bought a bank
Andy Redleaf founded a $6 billion hedge fund. Now he runs a small community bank
Loosening ties, pt 1: how US G-Sibs cut intra-system assets
Goldman Sachs reduced links with other financial firms the most in Q4 2018
Quant funds look to AI to master correlations
Machine learning shows promise in grouping assets better, predicting regime shifts
First Ibor versus SOFR cross-currency swap trades
Westpac and Citi strike BBSW/SOFR trade in landmark moment for Australian market
Sonia users push for official in-arrears rate
US Fed proposal for compounded SOFR index leads to calls for endorsement of NatWest’s Sonia calculation
In the US, it’s an even ‘tougher legacy’ for Libor
A legislative solution for cash products is in the works, but lawyers say it raises constitutional issues
US firms must rerun non-cleared margin test in March
Proposed CFTC calculation delay offers in-scope firms chance to trade out of phase five compliance
Squeezed or saved? Market divided over year-end repo stress
Fears of a cash-crunch hang heavy despite Fed’s repo giveaway and move to term funding
G-Sibs in US grow leverage exposures faster than EU rivals
HSBC saw exposures fall 2.81% in Q3
EU gives one-year margin reprieve on equity options
Regulators point to possible systemic risk in margin loophole, as industry urges parity with US
Calls to hike climate policy raise risk for oil firms
Increased climate policy will put more oil and gas assets under threat of stranding
Big US banks cut OTC notionals by $10trn in Q3
Cleared notionals made up 54% of aggregate total notionals outstanding
BMR rift fuels zombie Libor uncertainty
False rate could limp on for months under EU’s benchmark regulation
CLO stress test shows losses for US insurers could top $6.9bn
Under one stress scenario, BBB tranches could suffer losses
Climate risk-weighting: the devil and the deep blue sea
Should capital charges be calibrated to climate risk? European banks test the waters
UK regulator issues plans for bank ops resilience
Bank of England to publish formal policy for recovering from disasters in 2020