Risk magazine
CVA exemptions should be rolled out globally – Risk.net poll
Three quarters of survey respondents believe regulators should copy the European Union’s CVA exemptions for trades with corporates, pension funds and sovereigns
Swap push-out reform bill passes committee despite Waters opposition
HR 992 passes by 53 votes to six, despite protests by leading Democratic member on House Financial Services Committee
CFTC’s O’Malia: Sef rules could favour Europe
The CFTC has a lot on its plate, including Sef rules, dealing with the extraterritorial impact of its regulations, and working out how best to manage the huge amount of data coming its way
AIFM directive changes relationships for prime brokers
Coming into force in July, the AIFM directive will likely to curb the freedom for prime brokers to reuse assets pledged by hedge funds for collateral, resulting in higher fees for services including leverage, says Patrick Colle, general manager of Paris…
Banks eye July 12 exemptive order deadline
A CFTC exemptive order expires in July, meaning new regulations could capture a broader range of clients as US persons
FX prime brokers welcome CFTC relief
CFTC provides last-minute relief for FX prime brokers, having listened to arguments that the market could be seriously impeded by business conduct rules
Signs of recovery despite uncertainty
Sponsored forum: Luxembourg
SEC cross-border rules an improvement on CFTC proposals, say lawyers
Narrower US person definition and substituted compliance proposal win praise from market participants
Data shows OTC notionals shrank as clearing started in US
Notional neurosis
Bank of Japan raises ‘major concerns' over US foreign bank rules
Letter to Fed governor challenges proposed regulation of foreign banks on the basis of inconsistency with international standards and restrictive liquidity rules
Cutting Edge introduction: The collateral currency convexity problem
The collateral currency convexity conundrum
Risk Espana rankings 2013
Spanish fiesta turns cold
Think locally, act locally: Anger over US plans for foreign banks
The Federal Reserve is planning a radical departure from traditional supervision by requiring the local offshoots of foreign banks to meet US capital and liquidity rules. Overseas banks are furious – and regulators are backing them publicly, amid fears…
People: RBS loses global head of FIG
William Fall leaves FIG role at RBS; Deutsche hires London Whale quant; two new directors join Isda board; new clearing role for Wilson at Newedge; Byres to take top job at Apra
Too much choice: The problems with Europe's plethora of segregation models
In the US, segregation of client assets is a simple matter – only one approach is allowed for over-the-counter trades. But in Europe, where there are more clearing houses, and no prescribed approach, things are messier. And it could be dealers, not…
CFTC investigates breaches of 60-second clearing rule
Commissioner O'Malia says agency has requested data from FCMs – Risk reported last month that some firms had broken rule 1.74
Cross-currency flap leaves cloud over IFRS 9
Purely hypothetical
Standardised OTC swaps spice up futurisation fight
Returns of the Mac
US funds fear inability to clear amortising swaps
A prohibition on taking cross-border risk could force some category two participants to stop trading amortising swaps from June 10
Clearing chaos: US OTC industry braces for June deadline
Clearing – and present danger
BNY Mellon announces eight new appointments
BNY Mellon has made several new hires across four businesses, including appointing Dean Sakati to head strategy for securities finance within global collateral services, and Mark Gonzalez as US chief operating officer for derivatives clearing services
Banks and EBA join forces over liquidity buffer accounting
Banks and industry groups have been joined by an unlikely ally in their protests about the accounting treatment of assets held in liquidity buffers – the European Banking Authority. By Lukas Becker and Matt Cameron