Latest on Regulation
More EU banks will fail new IRRBB test as rates push upwards
Half of all EU banks could cross outlier threshold for new test of net interest income
Hedge funds doubt tall tales around UK short-selling review
FCA has never used powers to ban short-selling, but reporting tweaks would be welcome
Why central banks shouldn’t ignore stablecoins
Rapid growth of stablecoins could impair monetary policy transmission
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Quotes
There’s a well-documented issue about collateral reporting, which is that the trading systems quite often don’t talk to the collateral systems, so you’re trying to collect data from two different places and tie them together
Alan McIntyre, Kaizen Reporting
In theory, CySec would have looked at the FTX group as a whole and considered whether that is the kind of group that should be able to control this Mifid-regulated firm in Cyprus
Steven Burrows, Fieldfisher
In relation to what constitutes a multilateral system, there is a lack of a level playing field because there are so many different ways of operating electronic platforms
Head of legal at a UK trading venue
Editor's Choice
French resolution may lead EU to adopt US-style rules for PFOF
German and Czech proposals would also put kibosh on commission’s mooted ban on the practice
Big Figure
This time is different
The last time interest rates rose this sharply in Europe, there was no internet banking. After more than a decade of ultra-low rates, bankers are uncertain how to model interest rate risk on the banking book to comply with Basel requirements.
Read the full articleDerivatives
Risk Awards 2023: The winners
BNP Paribas takes top derivatives prize, lifetime award for Stephen Kealhofer, Nomura wins rates
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Why central banks shouldn’t ignore stablecoins
Cyber incident reporting: convergence is key
Our Take
Clock ticking on UK plan for regulatory reforms
What happens when a bank drops off the systemic risk radar?