Leverage ratio
MEP: Basel too slow to deal with clearing capital clash
Isda AGM: Swinburne criticises Basel’s lethargy on clash between leverage and clearing rules
Rethink urged over Basel’s counterparty exposure framework
Industry calls for softening of SA-CCR amid claims it could lead to doubling of calculated exposures
CFTC counsel warns of threat to clearing portability
Leverage ratio seen as biggest impediment to porting client positions
New data reveals liquidity gaps in EU bond markets
Liquidity in German, Italian and UK bonds has suffered over past three years
OCC seeks leverage ratio relief as liquidity shrinks
85% of CCP’s volumes now short contracts on 20 biggest names, claims risk chief
Treasury: SLR 'reducing stability' in US repo markets
Treasury study found leverage ratio is making bank repo funding “fragile”
Clearing portability under threat as FCM pool shrinks
Failure of big clearing brokers could see clients unable to move to stable competitors
Why the leverage ratio distorts market-making
Darrell Duffie argues the rule hurts market efficiency for very safe assets
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
Banks still fretting over softened US TLAC rules
Fed grandfathers existing debt, but leaves TLAC requirements largely unchanged
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
Clearers laud EC transition extension for non-EU CCPs
Absent the extension, OCC estimates extra $74 billion in RWAs for European members
US inflation traders consider swap methodology change
Banks weighing up move to non-interpolated standard to cut capital costs
Regulators struggle to conjure the right leverage ratio
Too low, and it has no effect; too high, and liquidity suffers. Time for flexibility?
Reserving judgement: the BoE’s divisive leverage ratio plan
Central bank reserves exemption may squeeze interbank liquidity, raise capital requirements
Repo traders brace for wild quarter-end
Overnight repo rate expected to widen dramatically on Friday
Forget your passport: London outside the single market
UK-based banks seek simplest way to retain EU access post-Brexit
Interest rates house of the year: Societe Generale Corporate and Investment Banking
Multi-asset capabilities and risk recycling allow the bank to bring hit solutions to the market
Can US money funds rely on French banks for repo liquidity?
Foreign dealers may be here today, gone tomorrow
L’exception française: why French banks dominate US repo trading
French banks are exploiting a quirk in the leverage ratio rules to expand repo trading
Esma buys time to fix broken client clearing chains
Two-year clearing delay for small firms might allow indirect model to be built
UBS saves Sfr295m in capital via swaps margin change
FDIC vice-chair has warned of hidden dangers in new approach
US-European rift deepens on leverage ratio
FDIC rebuffs European calls to allow netting of client clearing margin in leverage exposure measure
Interview: Iosco’s Andrews stresses CCP resilience and recovery
CCP resolution spells regulatory failure; guidance to follow on PFMIs and CCP stress-testing