Collateral
Collateral chains and incentives
The authors model the asymmetry between collateral values to the parties in the collateral chain. The paper highlights that collateral reuse can be socially beneficial if the costs of misallocation are not significant.
Credit risk in energy: Best practices for challenging times
Sponsored webinar: Moody's Analytics
Hidden floor: dealers tackle negative rate CSA headaches
Banks pushing clients to remove costly interest rate floors in collateral agreements
Economists question cost benefits of derivatives clearing
New research finds no compelling economic rationale for central clearing
End-users face extra unwind costs from CSA rate floors
Dealers demanding compensation for extra funding costs
'Cherry-picking' claims fly in CSA rate floor negotiations
Traders accused of self-interest in negative rate floor discussions
Mac swaps, swap futures face new tax threat
Isda urges US tax officials to postpone rule treating certain payments as loans
Managing collateral and liquidity in turbulent times: Preparing for the unknown
Sponsored webinar: BNY Mellon
Smaller firms get boost on timing for non-cleared margin
Counterparties will be able to offset extra collateral calls, says source close to EBA
Accounting puts brake on move to daily settled swaps
New margin approach threatens hedge accounting status, could hurt effectiveness
Firms weigh impact of blockchain on post-trade services
Opportunity for using distributed ledgers in OTC market discussed at meeting held by CFTC
BoE: leverage ratio carve-out needed for clearing
Collateral should cut exposure, says BoE, citing need to ensure "continuity" of clearing business
Energy firms urge EC to ease Emir clearing rules
Review highlights concerns over impact of clearing on nonfinancials
Stricter EU collateral rules threaten Nordic power market
Esma move on bank guarantees “risks damaging” liquidity, traders say
Australian supers push for collateral posting rules revamp
Aussie super funds face higher dealer charges because of collateral rules
Best bank, credit and best bank overall
Goldman takes top spot thanks to long-standing commitment to insurance clients
Growing pains – The boom in buy-side derivatives usage
Sponsored survey analysis: Calypso Technology
Which risk–collateral channels affect loan management?
This study examines the empirical relation between loan risk and the economic characteristics of collateral, each of which may be associated with the empirical dominance of different risk-collateral channels implied by economic theory.
CVA and FVA with liability-side pricing
Wujiang Lou calculates CVA and FVA abiding by the law of one price
Canada to collateralise cross-currency swaps
Finance ministry hopes two-way CSAs will cut costs and risks on hefty swaps flows
Banks and pension funds fall out over bond CSAs
Common ground hard to find as dealers try to cut leverage exposure
Regulators sound warning on collateral squeeze
Report calls on regulators to fix “structural and regulatory limitations” around collateral
FCA survey finds high levels of leverage in hedge fund sector
Gross notional exposure to interest rate and forex derivatives on the rise
Annual collateral management survey now open
Take part in study on impact of central clearing