Risk magazine/News
Deloitte valuation boosts legal hopes of Popular bondholders
Experts point to quick and unreliable valuation, and lack of independence on liquidity assessment
XIV hedging rule helped protect Credit Suisse
Swiss bank guarded against ETN’s collapse by requiring counterparties to provide hedges in exchange for new units
Foreign banks in US dismayed by Trump tax on internal TLAC
Coupons on IHC debt issued to foreign parents will face 10% base erosion tax under new rules
CFTC reviewing de minimis threshold for non-US swap firms
Risk of dual registration deterring use of US-EU venue equivalence deal, says official
Isda’s O’Malia: back-office costs are ‘killing’ swap dealers
Banks set to begin testing Isda’s common domain model for trade lifecycle processes
MUFG launches CDS franchise in US with bet on volatility
Clearing helps Japanese bank branch out into US single names
Exchanges defend self-certification at CFTC meeting
Listing of bitcoin futures has sparked calls for more transparency on new contracts
Europe leaves IM haircutting in CCP recovery crosshairs
No explicit ban in parliamentary text; banks say method could spark exodus from stricken CCPs
No carve-outs in Fed’s revised leverage ratio proposal
Holdco leverage ratio will fall, but initial margin and custody funds still in scope
Isin service increases annual fees by 73%
Anna DSB warns venues against gaming the fee model
JP, Citi may not see capital benefit from new op risk rules
Collins floor may also prevent Morgan Stanley, State Street and Wells Fargo from realising SMA savings
EU lawmaker wants cost-benefit analysis of rejecting a CCP
Hübner says adaptation period may follow decision to deny recognition to non-EU clearing house
Industry expects fresh guidance on Mifid swaps transparency
Firms might need time to change their systems if Esma alters May 2017 guidance significantly
Revised Basel output floor could hit US banks after all
Fall in operational risk weights could push up capital requirements for market and credit risk
FCA system failure throws Mifid data into doubt
Esma could be left with an incomplete list of instruments subject to reporting requirements
Core-periphery model of bank networks called into question
Researchers find multiple, asymmetric cores in interbank market, posing different systemic risks
Transneft quits OTC market after settling $1bn swaps case
Russian market participants edgy after settlement leaves disclosure duties unclear
Bosses escape blame for options blow-up at Swedish bank
Court rules negligence by former managers and auditor of HQ Bank did not cause 2010 licence withdrawal
Maijoor defends late LEI relief amid industry frustration
Esma chairman says early Mifid relief would have removed incentives to register LEIs
Quant analyst Antonov to swap Numerix for Standard Chartered
New role in London only second for Numerix veteran
Blackstone-Hovnanian CDS deal revives credit rules debate
Rumoured triggering-for-financing arrangement sparks calls for more legal protection for sellers
Industry slams ‘unhelpful’ last-minute Mifid LEI relief
Esma’s six-month respite “too little, too late” to avoid no-trade lists on January 3
EBA steps up bonus cap pressure on Dutch prop traders
Dutch regulator told to “pay attention” to pay rules EC plans to scrap for non-banks
Only 1% of bonds caught in first wave of Mifid transparency
Trax estimates 5% of corporate bonds will be subject to full transparency after four-year phase-in