Risk magazine/News
Dealerweb doubles repo volume on electronic trading boost
Single-fee model gains traction among repo traders
DTCC’s $74 billion liquidity charge riles members
Some firms may stop clearing US Treasury trades if the CCLF is implemented
R3 claims progress on smart contracts standards
DLT consortium under pressure to show cohesion after JP Morgan departure
Banks turn to synthetic derivatives to cut initial margin
Options-based instruments can halve initial margin for some non-cleared products, say dealers
Three lines of defence model still evolving, say practitioners
Clearer split in responsibilities between first and second lines needed, say op risk chiefs
US Treasury stance on CCAR a return to ‘bad old days’
Overhaul would kill test failed by eight banks in past three years
Cyber insurance not a risk management tool, say banks
Lengthy payout mechanism of cyber policies makes it ineffectual against large losses, dealers argue
Just six banks caught by phase two of IM regime
Four EU, one Japanese and one Australian bank to start posting initial margin on non-cleared trades from September
US Treasury’s leverage fix tipped to boost repo market
US Treasury plan to exempt US government bond exposures expected to help struggling market
Crapo: US Treasury reforms will be ‘complicated’
Democrats unlikely to back changes that benefit big banks, Senate banking committee chair says
ECB and Esma would call shots on euro clearing
Proposals give central bank and regulator the power to bar biggest third-country CCPs
People: HSBC’s Karl joins Isda
OCC names new chief information officer; Nex nabs JP Morgan’s Americas head of derivatives clearing
Clashing bank resolution plans threaten to stall US reforms
Supporters of bankruptcy act want it separated from repeal of Dodd-Frank Title II
Benchmark fallbacks should be regulated, says industry
Fears of basis risk unless all users are obliged to write backup rates into legacy contracts
FRTB threatens Canadian bond market, dealers say
Modelling the risk factors of Canadian corporate debt is “almost impossible”
EU regulators stymied by Esma on electronic access
Treatment for third-country firms unknown until European Commission makes equivalence decision
EU rules delay sparks fears over indirect clearing
CCP members must offer new arrangements for exchange-traded derivatives in January 2018
Jeff Bandman leaves CFTC for private sector role
Former acting director of clearing and risk led negotiations with EC over CCP equivalence
A regulatory storm hits China
Regulators are imposing a new wave of tighter financial supervision
Margin rules spur Middle East netting upgrades
Bahrain, Qatar, UAE seek to bolster swaps safeguards
Caught in the branches: Japan rebuffs EU ring-fencing plan
Proposed rules for foreign banking group supervision will disrupt business and resolution plans, says JFSA
Dexia official acquitted of alleged swaps fraud in Italy
City of Prato likely to appeal despite perjury claims
Council of EU holds firm to salvage STS securitisations
Market participants welcome reversion to 5% retention rate and lower penalties for breaches
CFTC rules shake-up could outpace Treasury review
Giancarlo’s Project Kiss could deliver faster than Mnuchin’s four-part regulatory reform report due next month