Risk magazine/News
Model risk falls under the CCAR microscope
Fed using qualitative reviews to test compliance with SR 11-7
LCH set to launch repo client clearing service
Project will allow buy-side firms to access CCP through sponsor banks in coming months
Goldman’s veteran rates head moves to risk role
Three co-heads named after Pantazopoulos ends nine-year run at the head of rates group
Basel opts for aggregate bank capital output floor
Banks will have more flexibility on use of internal models, but calibration still undecided
Emir reporting relief for ETDs causes confusion
Market participants unsure who will report client-side leg of exchange-traded derivatives trades to CCPs
EU lawmakers consider extending FRTB deadline
European Commission policy expert says current deadline is too ambitious
Spectre of mass swap unwinds looms ahead of VM deadline
Dealers warn of market disruption if trades lacking new CSAs are terminated before September 1
Saba’s Weinstein: ETFs ‘destroy value’ in junk bonds
Hedge funds wary of high-yield bonds; blame ETFs for shrinking liquidity premium
Deutsche Börse exec backs euro clearing landgrab
Swiss CCP operator Six x-clear defends current equivalence regime
Custodians could face higher Basel G-Sib surcharges
Data shows removal of cap on substitutability in revised methodology would hit four banks
FRTB threatens popular hedge fund strategies
Brevan exec says market risk capital rules could force buy side out of certain trades
Buy side applauds Sonia’s coronation as UK risk-free rate
Decision a ‘no brainer’ but some say rejected secured rates could prove useful
Modal patterns in market data stump Morgan Stanley quants
New research suggests algo traders are changing the market microstructure
‘Standstill’ agreement gives trueEX a lifeline
Temporary deal allows start-up Sef to continue operations until at least July 29
Energy traders find ETRM systems lacking
Energy Risk USA: out-of-the box systems cannot meet all the needs of large banks and energy firms
Banks weigh Mifid II pre-trade price publication venues
Anonymity will be key factor in final decision, say dealers
Banks urged to engage custodians in time for IM phase two
Isda AGM: Start legal negotiations now or risk missing September deadline, warn dealers
EU regulator dampens SA-CCR reform hopes
Isda AGM: EBA acknowledges approach’s shortcomings, but warns Basel is not reconsidering
Banks win concessions in battle over CCP margin models
European Commission proposal would shine light on clearing house margin charges
New data and AI tipped to transform trading businesses
Isda AGM: New BNP Paribas system already creating counterparty trading probabilities for bonds
Industry divided on case for European phase-in of FRTB
Isda AGM: transition period may allow time for Basel to recalibrate rules, panellists note
Euro clearing relocation ‘will inform’ US cross-border policy
Isda AGM: CFTC’s Giancarlo says geography has been no barrier for EU CCPs in the US
Giancarlo: SLR change would cut clearing capital by 70%
Isda AGM: netting of clearing collateral would boost activity without weakening banks, claims CFTC chair
MEP: Basel too slow to deal with clearing capital clash
Isda AGM: Swinburne criticises Basel’s lethargy on clash between leverage and clearing rules