CFTC heeds buy-side demands for increased margin protection

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Regulators in the US face a potentially tricky dilemma. A large chunk of the over-the-counter derivatives market will soon have to be cleared through central counterparties (CCPs) – the passing of the Dodd-Frank Wall Street Reform and Consumer Protection Act in July has made that a certainty. The predicament centres on how exactly client clearing will work in the US. Some influential buy-side firms insist the current futures clearing merchant (FCM) model has to change to ensure the initial

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Credit risk & modelling – Special report 2021

This Risk special report provides an insight on the challenges facing banks in measuring and mitigating credit risk in the current environment, and the strategies they are deploying to adapt to a more stringent regulatory approach.

The wild world of credit models

The Covid-19 pandemic has induced a kind of schizophrenia in loan-loss models. When the pandemic hit, banks overprovisioned for credit losses on the assumption that the economy would head south. But when government stimulus packages put wads of cash in…

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