Risk magazine
White paper: Sovereign debt contracts and the effects of recent case law on bondholders
This white paper deals with the implications of the case of NML Capital Ltd v Argentina. Although the decision applies specifically to sovereign debt contracts governed by New York law, it could have an impact on bondholders whose debt is not governed by…
Macro-prudential supervision: the case against
The financial crisis could have been averted if regulators had been allowed to prick the credit bubble as it was inflating – or so claim advocates of macro-prudential supervision. But not everyone agrees. By Laurie Carver
LCR changes result from regulatory high-wire act
The recent easing of the Basel III liquidity coverage ratio is welcome, but highlights the difficult – perhaps impossible – regulatory challenge of striking the right balance in a world of too-big-to-fail banks, writes David Rowe
Basel RWA review said to show banks 'many multiples' apart
Regulators are bracing for fresh criticism of bank capital modelling, say industry sources
Global margin standards face further delays
Proposals to collateralise non-centrally cleared derivatives could now be subject to further consultation and impact assessment, having missed the original end-of-2012 deadline
EU Parliament poised to reject two Esma technical standards on OTC derivatives
Parliament is unhappy with the treatment of corporate end-users, and could require Esma to redraft standards
Iosco-SEC spat dims hopes of new regulatory framework
SEC slaps down Iosco report, undermining hopes for a new approach to cross-border regulation
European swap margin rules won’t be retroactive, says Esma
Trades will not become subject to initial margin rules part-way through their life, rule-making body tells Risk
Peter Rading exits RBS
Co-head of fixed income, currencies and commodities and global trading is leaving RBS after 22 years
BoE's Haldane says UK could help redefine global banking rules
Andrew Haldane says UK is in a position to lead with fixes to Basel III, tightening remuneration policies and removing barriers to bank account switching
CLS squares up to member onboarding challenges
Having added Swedbank and Lloyds as settlement members in the past two years, CLS has committed itself to further expanding its membership and its currencies
JP Morgan report confirms RWA reduction led to CIO loss
A misguided plan to reduce Basel 2.5 RWAs and a series of management failures combined to leave JP Morgan’s chief investment office with a $6 billion loss, the bank finds
DTCC threatens lawsuit over CME SDR plan
Depository Trust & Clearing Corporation could take legal action to stop proposed rule that would force CME clearing customers to report to its own SDR
Northern Trust to shadow BNY Mellon at Bridgewater
Northern Trust appointed to replicate middle- and back-office functions of existing administrator BNY Mellon at $140bn hedge fund
Futurisation forces hundreds of traders to sit exams
Swaps-to-futures switch at Ice – plus hedge fund regulatory changes – behind threefold jump in numbers taking futures trading exam
A year of market movement and trading opportunities
Sponsored forum: US inflation derivatives
Risk awards 2013: Credit Suisse wins top house
Swiss bank recognised for reshaping its trading businesses in 2012, as Risk publishes its fourteenth annual awards
FX options clearing analysis in final stages
The GFMA's global forex division is understood to be close to completion of its analysis of five years of options trading data - a project that is intended to lead to a solution for options clearing
Huge RPI swaps move catches market flat-footed
Some dealers said to have suffered losses after surprise decision to leave RPI methodology unchanged
Revealing the secrets behind RWA vanishing tricks
A weighty issue
People: Citi and RBS to cut 5,700 in investment banking
Citi and RBS to cut 5,700 in investment banking
Banks fear outcome as Basel Committee wraps up RWA review
Mending the RWA machine
French transaction tax loophole could prompt tougher European regimes
A twist in the tale for artful dodgers
A cracking time: Banks turn to CDO unwinds
A cracking time