Swaps
Banks discount legacy swaps as ring-fencing looms
Expectation of higher funding costs post ring-fencing pushes UK banks to offload some trades faster
Compliance fears slow use of synthetic swaps to cut IM
Dealers want firmer guidance on whether technique to slash margin costs contravenes clearing mandate
Final US position limits rule will take ‘at least a year’
CFTC expected to draft a narrow list of contracts in scope
US Natural Gas Markets
By: Vincent Kaminski
Capital savings from new IM regime elude dealers
Slow model development and approval processes mean banks yet to see benefits expected under margin rules
The price is still wrong: banks tackle bond CSA discounting
Diverging Eonia and European repo rates spur banks to look at valuations of swaps with bond collateral
XVA reaches far and wide
Sponsored Q&A: CompatibL, Murex and Numerix
Bounding Bermudans
Thomas Roos derives model-independent bounds for amortising and accreting Bermudan swaptions
Duffie: CCPs should prep to quash Sifi swap termination stays
Clearing houses need criteria for overriding stays on swap terminations, writes Darrell Duffie
Forex swap margin treatment uncertain ahead of VM deadline
With one month to go, market participants are still unsure how to treat foreign exchange derivatives
Change is the only constant in pricing swaps
Regulation is having unexpected effects on derivatives unwinds
Leverage ratio blamed for big swap unwind charges
Buy-siders complain of 'ridiculous' costs to exit trades
Accounting puts brake on move to daily settled swaps
New margin approach threatens hedge accounting status, could hurt effectiveness
US regulators told to expect VM status change
Fed, FDIC and OCC told daily settlement of swaps will cut required capital
Dealers warn of hit to Asia from short margin transfer times
Japanese firms and Isda call for T+3 for cross-border uncleared swap trades
Buy side held back by confusion on cross-trading swaps
CFTC's swap trading rules hamper internalisation, lawyers say
Highlights from Isda's 2015 AGM
Risk.net's coverage of Isda's 30th annual general meeting
Lehman vs Moore in swaps safe harbour showdown
Lawyers cool on Lehman's chances, but warn victory would harm swaps market
Primes re-pricing and exiting their tails
Start-ups struggling to establish multiple PB relationships
Shanghai launches renminbi derivatives clearing
CNY swaps and forwards can be cleared from November on SCH
Energy companies facing ‘intrusive’ CFTC special calls
Small derivatives hedgers bewildered by emails from regulator
Fatca fears reach swaps market
US tax rules could leave compliant foreign firms out of pocket unless swap documentation is amended
Asic temporarily exempts Australian banks from non-CFTC trade reporting requirements
Australian industry needs additional time to set up trade reporting infrastructure
CFTC cross-border guidelines give US banks in Singapore swap trade booking quandary
Singapore dollar trade potentially hit by US person rule