Systemic risk
Lifeline keeps Europe’s hopes afloat for single-sided reporting
Despite Esma’s proposal for delegated reporting of trades, the industry may yet get its wish
Banque de France’s Denis Beau on supervisory reform
Deputy governor speaks about suppression of systemic risk buffer, TLAC floor proposals, and simplifying regulation and resolution
G-Sib capital surcharge: how indexing and averaging alter incentives
Capital risk strategist anticipates Basel III endgame impact on US big-bank behaviour
Un-American or un-JPM? Surcharge rethink divides G-Sibs
Some see sense in rethink to funding indicator, others call for a backtrack
G-Sibs face daily data headache from US surcharge proposal
Move to more frequent measurement would be “massively burdensome”, says senior exec
UBS set for highest G-Sib CET1 minimum under Swiss proposal
Effective CET1 minimum would clear 13% on foreign-participant deduction
Euro area NBFI derivatives spike as ECB flags systemic risks
Cross-border claims surge 32% in Q4, with ECB report suggesting activity concentrated among few G-Sibs
Surcharge of the light-touch brigade
US reform of G-Sib surcharge goes well beyond simple update
Spanish banks brace for €5bn capital hike as CCyB doubles
Countercyclical buffer lifts requirements by €2.5bn in Q4, with further rises to come in 2026
CCB stands apart as Chinese banks diverge on G-Sib indicators
Bank records increases in 13 systemic risk indicators as trading activity jumps in 2025
FSB warns of ‘circles of risks’ in bank risk transfer deals
Credit lines, portfolio financing and NAV facilities for private credit funds could rebound on banks
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
Equity trading volumes surge at Canadian, Singaporean banks
Seven of eight lenders post double-digit rise in 2025, early systemic data shows
EU officials tamp down hopes for bank capital relief
Capital cuts are not a done deal in EC’s review of competitiveness, despite US deregulation
Why Trump’s latest Truth should make TradFi twitchy
Wall Street is becoming the villain in US president’s crypto movie
Quantitative fund homogenization and systemic risk in the stock market
The authors develop a homogenization measurement method from the perspectives of return rates and Sharpe ratios based on data from 421 active quantitative funds in China from January 2015 to March 2024.
One vision, two paths: UK reporting revamp diverges from EU
FCA and Esma could learn from each other on how to cut industry compliance costs
FICC-cleared MMF repos hit record share in December
Trades routed via clearing house hit $1.3trn, outpacing overall MMF repo expansion
Pinnacle-Synovus merger could create cat IV bank by year-end
$100bn threshold breach looms, but Fed’s Bowman plan could blunt impact
Bowman’s GDP-linked proposal would lift bank thresholds by 42%
Recalibration would push five banks out of category III and leave Synchrony and Flagstar below the large-bank line