Risk magazine
Review of 2016: turn and face the strange
Post-crisis reform has caused upheaval, but gave recent years a sense of direction; in 2016, that was missing
EU banks fear fresh blow on Basel credit risk capital rules
Possible revision to standardised approach would favour US banks for corporate exposures
October redemptions largest yet for hedge funds
Industry experiencing crisis of negative investor sentiment
Fed economist advocates combining internal models with SMA
SMA could act as a floor for calculating op risk RWAs, suggests Filippo Curti
Mifir transparency rules could capture illiquid packages
Criteria to assess which package transactions are liquid are too broad, industry warns
Exclude internal stress tests from CCAR, says US auditor
GAO says internal tests weaken incentives for banks to create 'meaningful and severe stress tests'
Doom loop reloaded: CRR II goes soft on sovereign debt
EC dilution of Basel liquidity and market risk rules could create new regulatory arbitrage
Banks still fretting over softened US TLAC rules
Fed grandfathers existing debt, but leaves TLAC requirements largely unchanged
Lawyers disagree over iHeart CDS trigger
Isda DC to consider whether non-payment of debt held by an affiliate is a failure-to-pay event
European buy-side firms face clearing crunch
Large buy-side firms will be subject to Europe’s clearing mandate from December 21, but their smaller peers risk being left behind
ANZ's CVA loss flags challenge for regional banks
Many smaller dealers thought to be out of step with market practice and new capital rules
Synth City: how synthetic dividends could save autocallables
New indexes promise higher coupons and lower dealer hedging costs
Now in 3D: buy side turning to new liquidity risk metrics
Industry moving away from outdated ways to visualise key risk
Europe’s banks fret over US stress tests
CCAR could expose weaknesses in capital planning at foreign banks
Stretched margins: growing pains for Simm
The standard initial margin model could become more strained as its use expands in 2017
Banks and clients clash over novation MVA charges
Some banks swallowing new margin funding costs, others forcing clients to pay up
Banks dismiss margin rule threat to synthetic prime brokerage
Growth in synthetic financing versus physical sees UBS, ING boost investment in prime brokerage units
CFTC looks to strengthen oversight of trading obligation
Chief counsel at CFTC highlights weaknesses of bottom-up approach to MAT determinations
EC signals staggered entry for Mifid II trading obligation
Rules for derivatives may take effect after January 2018 to allow for US equivalence deal
Relief for EU money market funds on liquidity buffers
Final compromise regulation not expected to trigger large fund reallocations
FCA urges progress on equivalency for derivatives trading
US and EU regulators should base recognition decisions on outcomes, not technical details
Giancarlo: March VM deadline is ‘massive challenge’
CFTC commissioner calls on regulators to address buy-side concerns if needed
UK banks under pressure to use IFRS 9 in stress test
Banks unable to calculate impairments under extreme scenarios must answer to regulator
Deutsche Bank loses EMEA clearing head
German bank has seen a string of departures from its clearing business