Federal Reserve
Amid debanking drama, banks try to say ‘no’, safely
A basic risk management tool – the ability to turn a customer away – has become a political football
Un-American or un-JPM? Surcharge rethink divides G-Sibs
Some see sense in rethink to funding indicator, others call for a backtrack
Europe’s next chore: cleaning a floor made messy by the US
Rejection of Basel III’s output floor leaves EU with some difficult decisions to make
G-Sibs face daily data headache from US surcharge proposal
Move to more frequent measurement would be “massively burdensome”, says senior exec
Surcharge of the light-touch brigade
US reform of G-Sib surcharge goes well beyond simple update
ECB urged to follow Fed’s lead on ‘material risks’
Senior banker at JP Morgan’s EU subsidiary backs US-style approach to streamlining supervision
Banks fear US cross-product capital relief will fall short
Proposal to treat repo as futures for SA-CCR may not do enough to support UST clearing mandate
Basel III endgame: overall relief hides winners and losers
G-Sibs gain from surcharge reform while AOCI hits regional banks
US banks made no headway on EVE transparency in 2025
Morgan Stanley remains lone US G-Sib not disclosing key measure of long-term interest rate sensitivity
One thing missing from US Basel III proposal: a deadline
Without a deadline, risk teams will struggle to secure resources to begin implementation projects
JP Morgan repo reliance hits 15-year high after Q1 surge
Fed funds and repo liabilities climb 62% to $717 billion
Hopes, fears and ‘mass confusion’: the sudden end of SR 11-7
Banks welcome chance to prioritise model reviews, but fret over future policy changes and AI
Foreign banks can swerve US Basel op risk capital charges
New proposal offers category III and IV banks op-out from regime, but intragroup trades penalised
Can US regulators keep Collins happy with one capital stack?
Legal experts say Basel III endgame redraft retains spirit if not letter of the floor
American Express crosses category II threshold
Cross-jurisdictional activity tops $75bn, but four-quarter average keeps bank in category III
JPM gripes over Fed G-Sib surcharges tweak
Disentangling RWAs from STWF indicator would dampen surcharge relief under endgame proposal
Can the US FRTB revamp make the IMA great again?
Banks are finally presented with a viable internal models framework under Basel III’s market risk rules
The do-it-all machine: model risk in the age of generative AI
Banks race to understand risks posed by new breed of multi-purpose bots
MMFs’ Fed repos dwindle to five-year low
Just four managers account for remaining balances as funds shift to Treasuries and repos with dealers
How the Iran war wreaked havoc on consensus US rates trades
Hedge fund steepeners, swap spreads and vol-selling strategies were hit as conflict forced stop-outs during March
EBA seeks to allay Simm divergence concerns
EU validator pledges to co-ordinate with global regulators, but retains ability to act alone “if needed”