Risk magazine
Volcker rule offers good news and bad on hedging
Regulators strip out approval for portfolio hedging but give more freedom to market-making desks
Chartis announces The Risk Enabled Enterprise® – Research Agenda
Content provided by IBM
CFTC cross-border guidance was not a dodge, says ex-staffer
With CFTC facing new Dodd-Frank lawsuit, former staffer defends agency's guidance – but pans staff letter that expanded its scope
Senator Crapo urges Dodd-Frank tweaks and CFTC-SEC merger
United Senate?
Nigerian financial infrastructures increasing cooperation
If you build it, they will come
VAB’s Winter: Collateral rules risk derivatives and liquidity
Regulating collateral
Congress could make Dodd-Frank changes in 2014, says Crapo
Democrats and Republicans finding common ground on issues including swaps push-out, says senator
SEC extends interim CDS portfolio margin rule
Buy-side firms angry about continuing margin disparity and uncertainty
Pension funds and the collateral crisis
Rising interest rates could leave pension funds facing huge margin requirements, creating an acute liquidity crisis
Sefs battle with confirmations after CFTC relief expiry
A second no-action relief period that exempted Sefs from issuing confirmations expired on November 29, leaving forex traders unsure whether Sefs can handle the requirement
SG CIB completes longevity trade for Aegon
Deal with Dutch insurer Aegon marks French bank’s first major transaction in the longevity swap market
Risk software survey 2013
Change from above
More firms expect technology spending increase in 2014
Rising expectations
Cutting Edge 2013: fixing SABR
Fixing SABR
IASB: Liquidity buffers seek a safe home
Fair-value friend
Risk management sweatshops? Number-crunchers move to satellite offices
From Berlin to Birmingham, from Tampa Bay to Dallas, banks have tried to boost their risk management resources – while keeping a lid on expense – by building teams in relatively low-cost cities. But do these far-flung offices improve performance? Joe…
In-depth intro: Risk management
From Berlin to Birmingham, risk functions are increasingly relying on low-level number crunchers in low-cost locations
Why collateral research misses the point
There may be an aggregate collateral surplus, but pension funds and other firms that would face big margin calls in a rising-rate environment are not reassured
Cutting Edge introduction: fixing FVA
The funding valuation adjustment (FVA) is the biggest controversy of recent times in quantitative finance. Now the authors of the original FVA paper are back – and think there may be a solution. Laurie Carver introduces this month’s technical articles
People: BNP Paribas to take RBS staff in structured products deal
The French bank will house up to 600 RBS staff after winning auction; SG CIB provides new CEO for Newedge; US futures business at Deutsche gets new boss; JP Morgan promotes divisional CFOs; SGX splits regulatory and risk roles
Review of 2013: Grave new world
From collapsing equity repo rates to footnote 88, and from the leverage ratio to new clearing house liquidity rules, the year has been full of surprises, many of them unpleasant. By the end of 2013, an industry that had seemed to be back on its feet was…
Europe set for swap futures shoot-out
Up to eight venues are gearing up to launch interest rate swap futures in Europe – each with a different take on the product. What does the market make of their chances? Tom Osborn reports
Fear the repo: funds face up to rate-contingent liquidity risks
As interest rates rise, big fixed-rate receivers such as pension funds will all slide out-of-the-money at the same time, potentially triggering huge margin calls. Some are already trying to soften the blow, rather than relying on a repo market that could…
Risk technology rankings 2013: Regulatory revamps
Adapt and comply