Risk magazine/News
LSE-backed Libor replacement faces data wrangle
Proposed secured rate based on data from NEX, which has a competing offering
Banks seek to standardise cross-currency settlement dates
Talks under way to exchange principal amounts on IMM dates to allow for greater netting
Reputation model reveals how banks drag each other down
Network study shows bottom-line impact of bad news elsewhere
BGC staffs up as challenge from TP Icap looms
New York-based BGC has made a series of senior hires in recent months
LEI reporting initiative defended, despite high lapse rate
Operators of legal entity identifiers hope Mifid II will spur greater adoption
Fund admin providers see strong demand for illiquid strategies
Three-quarters of survey respondents administering $4.4 trillion collectively get weekly illiquids enquiries from managers
Fears that bumper coupon could skew iHeart CDS payouts
Market pushes for change to auction date amid fears of reduced single-name and index CDS payouts
People moves: Jain joins Cantor
FCA hires Foulger; new CRO for HSBC; Goldman's senior shake-up; equities chief for Credit Suisse
EU banks fear fresh blow on Basel credit risk capital rules
Possible revision to standardised approach would favour US banks for corporate exposures
Fed economist advocates combining internal models with SMA
SMA could act as a floor for calculating op risk RWAs, suggests Filippo Curti
Mifir transparency rules could capture illiquid packages
Criteria to assess which package transactions are liquid are too broad, industry warns
Exclude internal stress tests from CCAR, says US auditor
GAO says internal tests weaken incentives for banks to create 'meaningful and severe stress tests'
Lawyers disagree over iHeart CDS trigger
Isda DC to consider whether non-payment of debt held by an affiliate is a failure-to-pay event
ANZ's CVA loss flags challenge for regional banks
Many smaller dealers thought to be out of step with market practice and new capital rules
Banks and clients clash over novation MVA charges
Some banks swallowing new margin funding costs, others forcing clients to pay up
Banks dismiss margin rule threat to synthetic prime brokerage
Growth in synthetic financing versus physical sees UBS, ING boost investment in prime brokerage units
CFTC looks to strengthen oversight of trading obligation
Chief counsel at CFTC highlights weaknesses of bottom-up approach to MAT determinations
EC signals staggered entry for Mifid II trading obligation
Rules for derivatives may take effect after January 2018 to allow for US equivalence deal
FCA urges progress on equivalency for derivatives trading
US and EU regulators should base recognition decisions on outcomes, not technical details
Giancarlo: March VM deadline is ‘massive challenge’
CFTC commissioner calls on regulators to address buy-side concerns if needed
UK banks under pressure to use IFRS 9 in stress test
Banks unable to calculate impairments under extreme scenarios must answer to regulator
Deutsche Bank loses EMEA clearing head
German bank has seen a string of departures from its clearing business
Risk retention ‘substantially diluted’ for STS proposal
Parliament compromises to pass STS securitisation proposal, but industry is still pessimistic
Mixed views on Dodd-Frank rollback
No need to dump central clearing and electronic trading mandates, market participants say