Risk magazine/News
March margin deadline may force clients onto new CSAs
Dealers say they lack capacity to renegotiate thousands of existing collateral agreements
Hedge funds warned of crowding risks
Crowding is the “biggest challenge” facing the hedge fund industry, CRO of Point72 says
Liquidity stress testing ‘essential’, says ECB supervisor
Supervisor warns conference banks will need to shape up their Ilaap responses for 2017
Banks missing margin transfer deadline due to timezone clash
Euroclear shuts at 12:15pm New York time, causing some US banks to miss T+1 cutoff
Fears rise that Asia will miss March 2017 margin deadline
India, Australia, Singapore and Hong Kong have yet to publish non-cleared margin rules
Negative Euribor erodes securitisation profits
Implicit floors in notes leave originators facing cost of negative rates on hundreds of tranches
EU net margin rules are riskier than US regime, warns CFTC
Commission’s Bandman raises margin financing as emerging systemic risk to CCPs
IMF's systemic risk findings called into question
Financial connectedness measure “not usually sharply aligned with systemic risk”, says Darrell Duffie
Basel to allow IRB models for low-default portfolios
Impact studies showing significant capital increase prompted committee rethink
Central banks eye advantages of digital currencies
BoE economist says digital currencies might improve real policy rates, tax rates and bank competition
Margin rules push interdealer inflation swaps to clearing
Traders say 95% of the market now cleared, compared with 10% a month ago
Central banks are not fintech accelerators – Bundesbank
German payments authority says fintech should receive equal regulatory treatment to banks
CFTC split as it endorses Japanese margin rules
Substituted compliance ruling means parties will not face worst-of-both-worlds regulation
FRTB standard rules cause worries about duplication
Sensitivity-based approach means “we have to do everything twice”, complains one head of trading
HFT firm Teza said to be eyeing prop trading retreat
Big US Treasury trader has seen hedge fund add $1.5bn this year
CFTC relief caps day of swaps margin mayhem
Banks unable to face up to 50% of counterparties due to custodian bottlenecks
People: Barclays loses veteran OTC clearing head Kahn
Barclays loses Kahn, gains JP Morgan's Portney; NIBC hires new CRO; Nomura finds new EM head; and more
Buy-side forex trading curbed as margin rules take effect
Prime brokers will cut off access to dealers if they fail to agree revised CSAs
Banks fear costs from loss of AAD under simpler FRTB rules
Trading book regime may force use of more expensive and time-consuming ways of computing risk sensitivities
Year-end deadline for fixing CCP recovery plans 'not realistic'
Some central counterparties are unable to maintain a continuous 'cover two' standard
New accounting rules expected to hit US banks hardest
FASB’s Cecl rule could mean loss provisions for loans are three times higher compared with IFRS 9
Esma buys time to fix broken client clearing chains
Two-year clearing delay for small firms might allow indirect model to be built
TLAC subordination requirements loom in Europe
EC favours excluding derivatives from MREL and taking French approach to subordination
Barclays names Portney as investment bank CFO
Ex-clearing exec had also been equities CFO in long JP Morgan career