Risk magazine
Getting CVA up and running
Getting CVA up and running
CFTC will publish its own Volcker rule language, says Sommers
Supervisor will publish its own Volcker rule for consultation – although little progress has been made so far, says CFTC commissioner
ECB threatens to stop trading swaps with US counterparties
ECB invokes US legal amendment providing it with broad immunities and says it might stop using US dealers unless granted exemptions from Dodd-Frank Act rules
In the balance
Christoph Burgard and Mats Kjaer discuss the relationship of the funding cost adjustment to the balance sheet
BofE's Tucker: weak CCP recovery plans risk mayhem
Panellists at an EC conference in Brussels this morning warned CCPs have made little progress on detailed survival plans - leaving the system exposed
Industry calls for further clarity on Mifid II
The European Commission tabled proposals to revise the Markets in Financial Instruments Directive on October 20. But traders remain concerned about the implications of a one-size-fits-all approach to foreign exchange
CDS spreads in holding pattern as row delays eurozone deal
Spreads flat or slightly tighter despite political squabbling over size of EFSF
Fink: Billions could flow into preferreds as banks recapitalise
BlackRock chief calls for perpetual preferred shares to be counted towards Tier I capital at Europe's banks
Dealers see danger in CFTC's $50m clearing capital limit
CFTC says 38 FCMs would be able to act as OTC clearing members under $50 million capital limit - but dealers fear it will weaken CCPs, and call for tough membership rules to redress the balance
FX Week Asia: Options clearing on hold, prime brokers confirm
Forex clearing will be restricted to non-deliverable forwards as US authorities discuss whether settlement risk can be properly managed for cleared forex options, according to speakers at the FX Week Asia conference in Singapore
FX Week Asia: Corporate hedgers rattled by volatility
Tumultuous foreign exchange market in September has left some hedging strategies in disarray and led to more timely exposure monitoring in one treasury department, say corporate treasurers speaking at FX Week Asia
Nomura hires new structured lending head
Munish Varma joins from Deutsche Bank as global head of structured lending and special situations
FX Week Asia: World economy 'needs alternative reserve currency'
Chinese renminbi looks poised for reserve status, but still no consensus on when it will happen due to forces beyond "anyone's control", senior academic tells FX Week Asia conference in Singapore
Emerging markets focus to boost NDFs despite clearing costs
Growth of non-deliverable forwards market will not be hit by impending clearing laws
CRD IV should reflect Emir exemptions, says Bowles
Chair of European Parliament's Econ committee believes CRD IV should mirror Emir corporate exemptions, but has not yet decided whether sovereign counterparties should enjoy the same benefit
Equity structured products head leaves RBS
Head of equity derivatives structuring in the Americas departing for personal reasons
Emir should include exchange-traded derivatives, says Gensler
CFTC chairman says European regulators should expand scope of Emir to include all derivatives, rather than OTC only
Risk.net poll: CCPs should have access to central bank liquidity
The majority of respondents to an online poll support central bank liquidity access for CCPs, but critics argue this would be likely to lead to the break-up of multi-currency clearers
Société Générale adds to rates strategy team
Alberto Brondolo and Julian Wiseman appointed to expand SG CIB’s global rates research efforts
EBA stress test: Santander’s sovereign swaps exposure not disclosed
Banco de España chose not to report Santander’s sovereign derivatives exposure to the EBA because it was 'not material'
FSB warns members not to misinterpret G-20 commitments
The FSB warns that some regulations appear to be contrary to the spirit of the OTC derivatives reforms agreed by G-20 members – a statement some believe was prompted by a disagreement over the scope of European derivatives regulation
Video: Banks can arbitrage central bank liquidity provision
A conflict between new liquidity regulations under Basel III and existing central bank operations leaves a gap that banks may be able to exploit, warns financial stability expert
European bank spreads decline amid talk of recapitalisation plans
Risk perceptions on European banks fall as Merkel and Sarkozy agree to produce a recapitalisation plan within the month
IMF modelling work on liquidity risk points to capital hike, says Jobst
Recent analysis by the International Monetary Fund indicates that banks in the US need to raise capital to cover systemic liquidity risk threats