Fed backtracks on CCAR cleared swaps exposure

Regulator had also postponed plan to feed cleared client exposure into G-Sib rankings

Changes could have had "meaningful impacts" on big clearers, says Ari Cohen of EY

The US Federal Reserve has abandoned plans to force banks to include data on the exposures of their client clearing businesses in its annual stress-testing programme, after a backlash from the largest US dealers, Risk.net has learned. Plans to use this data when setting capital for the biggest US banks had already been postponed.

The US regulator published updated reporting instructions for its quarterly stress-testing data collection – reporting form FR Y-14Q – on August 22. The forms collect

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Calibrating interest rate curves for a new era

Dmitry Pugachevsky, director of research at Quantifi, explores why building an accurate and robust interest rate curve has considerable implications for a broad range of financial operations – from setting benchmark rates to managing risk – and hinges on…

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