Hong Kong has just closed a consultation on its over-the-counter derivatives regime and though it will have a marginal impact on global firms, it is nonetheless important so the jurisdiction stays in line with global norms.
IOSCO final bond trading report has echoes of MiFID II
IOSCO’s final report on secondary corporate bond markets was widely welcomed by the industry and is seen as a good template for creating more harmonised regimes around the world
Bank trading book moves closer to being workable
A raft of proposals in a consultation by the Basel Committee on Banking Supervision covering the bank trading book have gone down well, leaving non-modellable risk factors as among the last major areas where the industry still needs to make a persuasive case for change. By Justin Pugsley.
Data pooling for NMRF proves challenging for industry
On the face of it data pooling looks like an ideal solution to enable banks to ensure certain illiquid instruments they trade don’t become non-modelable attracting large capital charges in the process. But in practice, making this work is proving to be far from easy.
US G-SIBs unlikely to meaningfully benefit from proposed changes to CCAR
Proposed changes to CCAR are unlikely to provide much benefit for US US globally systemically important banks.
Basel progress report urges consistent implementation of standards as some areas lag
The Basel Committee’s most recent progress report finds that member jurisdictions are up to speed in implementing much of the Basel III framework, but nonetheless highlights some areas of concern.
Regulatory divergence costs financial institutions $780bn a year
Regulatory divergence is costing financial institutions $780bn a year and is diverting resources away from risk management and is a tax on global economic growth.
FDIC vice-chair Hoenig, vocal promoter of tough rules, steps down
Vice chairman of the FDIC Thomas Hoenig is stepping down and will be remembered as vocal critic of big banks and as an advocate for tough prudential regulation.
Ease of application may trump sensitivity in bank trading book says Basel’s Coen
Simpler approaches to managing market risk could be in the best interests of banks, the Basel Committee’s general secretary told an ISDA event.
Proposals for lower capital will benefit trust banks the most
US G-SIB Trust and custodial banks most likely to benefit from proposed leverage ratio and TLAC changes put forward by Fed and OCC.
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