Risk magazine - April 2014
Articles in this issue
Overnight heroes: central banks weigh loans for CCPs
Eurex and SGX can borrow from their central banks, while rivals have to rely on common-or-garden lenders
OTC reforms: Numbers only tell part of the story
Derivatives reform glass is half-empty for regulators
Hedge funds wary of betting on rates
Managers cite 2013 fixed-income rout as reason for caution
Costs of forex manipulation could be worse than Libor
Total bill from penalties and lawsuits could reach “tens of billions,” some estimate
How to game a Sef: Banks fear arrival of arbitrageurs
Liquidity could suffer if sharp practice takes root in Sef markets
Pirelli: Regulators have lost focus
Corporates unfairly hit by new rules, argues tyre company’s risk head
Fair value accounting's blind spot
Market prices ignore time-to-liquidation, says David Rowe
Q&A: Sandy Broderick, DTCC, on the Emir reporting avalanche
Surge in customer numbers caught the repository out, CEO admits
Counting the cost of reform – Isda end-user survey
Systemic risk is down, but not due to G-20 reforms, say end-users
Isda AGM Roundtable: What OTC reform means for end-users
Isda directors warn on fragmentation, access and liquidity - but expect problems to pass
Rosbank: "This crisis appears very different from where I am sitting"
Russian bank's trading head says political crisis has not spilled into local markets
Regulatory-optimal funding
A treasury viewpoint on the funding optimization problem
People: Foresti jumps from Deutsche to BAML
Michele Foresti, an 18-year Deutsche Bank veteran, is BAML's new head of fixed income for Europe
The black art of FVA, part II: Conditioning chaos
Banks under pressure to join JP Morgan and others that have embraced FVA - but complexity is huge and consensus elusive
Pro bono banking: The rise of risk solutions groups
Cross-asset groups are increasingly in vogue, but patience is key
Foreign banks say new Fed rules could force them out of repo markets
Repo and securities lending “will be the first casualties of the new Fed standards”
Dealers push ‘margin-sharing’ as answer to collateral crunch
Approach would be twice as efficient as planned uncleared margin regime, dealers claim
FVA is looking more like a pet than a monster
Auditors are allowing banks to sidestep problems
Isda AGM supplement: Challenges for end-users
Corporates and others frustrated by swaps reforms and higher costs
Trading strategies via book imbalance
Predicting equity and futures tick by tick price movements
