Risk magazine
South African banks push for central bank liquidity facility to help LCR compliance
A central bank liquidity facility is a possible solution to the shortage of liquid assets, says a Banking Association South Africa speaker at Risk and Return 2012 in Cape Town
Lsoc should not be introduced for futures, CFTC hears
Lsoc is 'not fit for futures'
Banks are retreating from market-making, managers warn
Forex investment has became more challenging, as market-making banks facing new regulation have become less willing to take risk, say buy-side firms
Greek auction result could undermine CDS use
An early trigger is unlikely, but fears of distorted auction outcome remain – and could undermine the use of credit default swaps as a hedge, say market participants
Banks criticise plan to deduct DVA from equity capital
Comment letters from Isda and Bank of Montreal argue Basel Committee proposal on DVA deductions goes too far
CMS: covering all bases
CMS: covering all bases
Goodbye VAR? Basel to consider other risk metrics
Trading book review will look at replacing value-at-risk, but quants say the obvious alternative - expected shortfall - is not much better
Margin rules for uncleared FX rest with regulatory working groups
Regulators must adopt a calibrated approach to mandated collateral so that short-dated FX swaps and forwards are not caught up in the rules unnecessarily, argue market participants
Danish and Latvian debt offices weigh two-way collateral
The costs of transacting swaps with one-way CSAs mean more debt offices could join Hungary, Ireland, Portugal and Sweden
CFTC: largest 6% of CDS and rates trades to get block exemptions
Hundreds of OTC product types would receive different reporting and trading thresholds under new CFTC proposals - but there is no exemption for equity derivatives
Futures markets could get OTC-style safeguards
Futures market participants expect tougher - and more expensive - collateral protections to be introduced as a result of the MF Global debacle, and the CFTC is ruling nothing out
Downgrade termination costs
Downgrade termination costs
Ambition of Basel's trading book review has faded, sources say
Patchwork of risk measures - including standalone CVA charge - may be left intact
RWA probe could cut modelling flexibility, says new Basel chief
A stricter approach to the modelling of bank capital is "high likely", as a result of concerns that risk-weighted asset numbers are too divergent
Greek bailout deal fails to dent CDS spreads
Sovereign spreads flat or wider despite agreement on fresh bailout for Greece
CDS market holds breath as Greek bail-out talks continue
Spreads are static and volumes light as EU finance ministers and the Greek government try to reach agreement over bail-out terms
Singapore’s FX exemption welcomed as a sign of global consistency
A proposal by the Monetary Authority of Singapore to exempt forex swaps and forwards from mandatory clearing is seen as a positive move to harmonise treatment of foreign exchange with the US
Fast-starting Esma will still run out of time, critics say
Esma has published a discussion paper on new clearing rules just five days after the high-level text was agreed - but a quick start and a three-month deadline extension might not be enough
CCPs fear prescriptive Esma standards on margin and risk
Esma could take key risk management decisions out of the hands of CCPs, according to new discussion paper on the technical standards required by European clearing rules
Walter joins Ernst & Young
Former Basel Committee secretary-general returns to New York in regulatory consulting role
CFTC requests 50% increase in funding for 2013
White House resurrects idea of funding CFTC through fees paid by regulated firms
Basel DVA capital deduction could cost banks billions
Billions of dollars in capital could be excluded under Basel proposals on derivatives DVA - with US banks hardest hit
Latest turnover figures tell positive story for FX, say committee members
Steady volume rises in US and UK indicative of healthy state of foreign exchange markets
LCH.Clearnet’s ForexClear awaits regulatory approval
Forex clearing platform for NDFs is ready for launch, pending regulatory approval, LCH.Clearnet confirmed in its annual report