Risk magazine
Swaps push-out: Banks hoping for Fed fix
Will Fed fix 716?
CFTC misusing Dodd-Frank to expand its role, says CME's Duffy
CME chief accuses regulator of overreaching, as line-up of industry figures attacks Dodd-Frank rules
BoE's Tucker sets out priorities for orderly cross-border resolutions
Paul Tucker examines the many issues facing authorities seeking to wind down failed banks without taxpayer support, including cross-border co-operation and choice of single or multiple entry points
Risk Espana survey 2014: Spanish banks play catch-up as regulation looms
Respondents to Risk España’s survey expect to see declines in over-the-counter derivative volumes as a result of regulation and believe less than half the OTC market’s total notional value will be eligible for clearing
Swap dealers struggle with Isda protocol compliance
Failure to meet deadline for earlier protocol puts banks on the back foot for compliance with next round of rules
DBS: Asian backlash over regulatory fragmentation
The crisis did not start in Asia, but Asian countries have been among the first to implement the resulting capital and liquidity regime – while the US and Europe have yet to move. The result is an unlevel playing field, says Elbert Pattijn, chief risk…
OFI Asset Management: Cutting the costs of clearing
Early adopters of over-the-counter derivatives clearing tended to be the big beasts of the buy-side universe, but smaller firms – such as France’s OFI Asset Management – are coming on board as well. By Tom Osborn
Insight Investment: The need for non-cash variation margin
Pension funds tend not to have a lot of cash lying around, making it difficult for them to meet clearing house margin calls. Specialist asset manager Insight Investment is pressing for a solution. By Tom Osborn
Piecing it all together
The aspiration to globally aggregate OTC derivatives data to determine systemic risk remains a distant dream
Ucits’ future in Asia questioned
Ucits has enjoyed unprecedented success penetrating Asia but the party may be ending for the investment vehicle as three Asian initiatives prepare to challenge the European brand
CFTC approves Sef rules - and eyes block trade controversy
As agency approves long-awaited final rules on Sefs, CFTC staff say they could strip exchanges of freedom to set futures block thresholds
US-European divergence over default funds
Quotes of the quarter
The OCC’s Levonian on stress-testing
Stress-testing has become a vital tool for financial institutions and regulators, says the OCC’s senior deputy comptroller for economics
Europe should consult on Emir equivalency – SEC official
The EC and Esma should consult on the process for determining equivalency with Emir, says Eric Pan of the SEC
Data fragmentation hampers oversight
The G-20 had hoped the reporting of OTC derivatives trades would give regulators an opportunity to spot the build-up of systemic risk. But domestic reporting requirements, a lack of standard data formats and local privacy laws are preventing supervisors…
Tucker: Regulators can't "protect themselves from the rest of the world"
Bank of England deputy governor says cross-border agreements can overcome national barriers to resolution
Flexible technology needed to respond to regulatory change, says Fincad
Regulatory change will force firms to alter their behaviour, and their technology platforms need to keep pace
BNY Mellon, Goldman Sachs facing July swaps push-out deadline
Firms are among seven banks that will be subject to section 716 of the Dodd-Frank Act unless Federal Reserve gives relief
Plosser warns US regulations could cause unnecessary bail-outs
Philadelphia Fed president says existing efforts to end too-big-to-fail may ‘come up short' and advocates a more rules-based approach; criticises Basel III risk weights
Alternative Fund Administration Survey
Single-manager hedge fund admin assets prosper while FoHFs suffer
Banks push alternative to Basel Committee securitisation model
Basel proposals would kill European market, banks warn – and some regulators sympathise