Risk magazine
The beginning of the end for footloose modelling
US model risk guidance has drawbacks, but is a step towards better management of model risk
Basel arbitrage warning leaves dealers guessing
Banks told to avoid trades that offset regulatory adjustments, but details are thin
EBA stress test ‘obsolete’ after Brexit vote
Experts call for a rethink on setting scenarios for future tests
‘Lottery ticket’ call options saw big losses on Brexit
Emerging market trades dropped more than 80% after 'leave' vote
Brexit clauses put brakes on big UK property loans
Collapse in sterling expected to see in-flight deals renegotiated
Banks ‘hurting, but not dead’ after Brexit shock
Last-gasp hedges may have eased the pain of Brexit for some banks
EU moves to resolve bank bail-in debate
Council urges EC to clarify implementation of MREL and TLAC
On derivatives and quants
Alexander Lipton on how the role of quants is adapting to the new financial environment
EC to hold crunch talks on CCP recovery and resolution
European Commission said to be close to unveiling proposal on stricken clearing houses
People: HSBC appoints markets head to new digital role
Credit Suisse loses European prime derivatives head; SocGen CRO retires; Citadel Securities hire from Barclays macro sales desk
Blockchain creators call for new reference data paradigm
Derivatives trade identifiers to leverage off cryptographic hashes
Brexit hedging leaves Ficc books unbalanced
Market-making desks struggling to recycle some client flows ahead of referendum
Brexit or Bremain: looking for clues in bubble analysis
Crisis analysis model suggests rates and credit markets see danger
Brexit spurs rethink of political risk at global banks
Some banks are reserving capital against political risks, such as Brexit
US regulators favour September margin deadline
September 1 roll-out would threaten bilateral swap trading chasm between EU and US
Banks reject Basel’s IRB data shortage claim
Internal models remain more accurate than standardised approaches, say industry responses
Funding flap: dealers slam NSFR impact on derivatives
Banks fume over “extremely punitive” funding costs from liquidity rule
Standardised CSAs: no longer a matter of choice
Dealers again seeking simpler terms after 30% drop in non-cleared notionals
US model risk rules put lions back in their cages
Impact of Federal Reserve and OCC model risk guidance is being felt well beyond US banks
Interview: Iosco’s Andrews stresses CCP resilience and recovery
CCP resolution spells regulatory failure; guidance to follow on PFMIs and CCP stress-testing
Start-up UST trading venues face clearing hurdles
Gaps in central clearing are stifling the emergence of all-to-all trading venues for US Treasuries
König: banks should not wait to build bail-in buffers
Single resolution board head also warned against political back-sliding on bail-in
IFRS 9 packs bigger punch than Basel changes, say bankers
Capital hit from new loan loss accounting rules to rival incoming Basel regulations
SEC legal hurdles threaten non-US CDS dealers
Row over access to books and records threatens to undermine registration rules