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Latest on Regulation
CFTC block trade plan gets cold shoulder
Industry divided over swaps reform proposal, and advisory committee casts doubt on need for it
Buy side hopes for best execution reporting carve-out
After EC exempts venues from best execution reporting, Aima hopes RTS 28 reports will be next
Transparency vs clarity: the Mifid swaps conundrum
Participants want better OTC transparency, but say Esma’s efforts at clarity could muddy the picture
Latest
Quotes
If the Fed releases the stress scenarios in early September, and we have a serious second wave of Covid-19 and the government approves another stimulus package, how will the Fed incorporate these events?
US banking industry source
The EBA doesn’t make a straight recommendation for beneficial capital treatment for synthetic securitisations
Anna Bak, Association for Financial Markets in Europe
Esma should make sure that post-trade transparency data can be usable in terms of quality, connectivity, access and readability
Stéphane Malrait, ING
Editor's Choice
How the Fed’s Covid stress test got stuck in the middle
Experts fear CCAR add-on has neither informed investors nor guided capital management
Big Figure
A zombie awakens
Introduced in the early 1990s, the US tier 1 leverage ratio had been largely forgotten after the introduction of the supplementary leverage ratio (SLR) in the Dodd-Frank Act. But the Federal Reserve’s decision to exempt US Treasuries and reserves from the SLR has suddenly brought the legacy tier 1 ratio back into focus as a possible binding constraint for banks.
Read the full article7 days in 60 seconds
Mifid swaps, VAR and buy-side Covid lessons
The week on Risk.net, July 25-31, 2020
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