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  1. US airline wins Dodd-Frank real-time reporting delay

    The letter effectively exempts Southwest from the requirement that all swap trades must be reported within a matter of hours to swap data repositories (SDRs) – giant warehouses of data designed to give regulators an insight into the market for...

  2. Softer NSFR may not save repo, banks warn

    Final rule slashes funding requirement for reverse repo, but applies it more widely The final rule, published on October 31, retains the asymmetrical treatment, but slashes the funding requirement from 50% to 10% as long as the assets backing a...

  3. FSB delays designation of systemic reinsurers

    The higher loss absorbency capital requirement for G-Siis is not intended to go live before 2019, for example. IAIS assessment methodology under fire again for lack of clarity The Financial Stability Board (FSB) has postponed the designation of...

  4. Sef execution of package trades to be postponed

    CFTC staff have recommended extending the no-action relief previously provided in order to phase in the requirement to trade on Sefs swaps executed as part of certain package transactions – that is, transactions involving a swap that is required...

  5. Dealers fret over NSFR impact on equities

    In future, this will be mitigated by initial margin, argues the European bank's regulatory expert, but he fears regulators are deliberately ignoring that fact and says the resulting funding requirement could be heavy.

  6. New frontloading flap over €8bn clearing threshold

    Category two firms will be given 12 months to comply with the mandate, but any trades executed during that time will subsequently have to be cleared, a requirement known as frontloading. In May, Sharon Bowles, outgoing chair of the European...

  7. US energy firms welcome CFTC tweaks to Dodd-Frank rules

    The document adds that "the phrase 'physical factors' should be construed broadly" and lists a number of specific examples of what the CFTC might consider an appropriate physical factor or regulatory requirement.

  8. Nationwide: ABS markets need more than warm words

    The Basel Committee watered down its capital requirement proposals in late 2013, while the Bank of England and the European Central Bank issued a joint report in May on improving Europe's securitisation market.

  9. US bilateral margin rules: a hit parade of horrors

    It's unnecessary, and it creates the potential for a real increase in counterparty risk and capital problems for people," says Deborah North, a partner at law firm Allen a requirement that margin payments be calculated using the dealer's bid or...

  10. AIFMD: hedge funds reported to be struggling with reporting

    Mark Mannion, head of business development and relationship management Emea for alternative investment services at BNY Mellon, says many managers will "undoubtedly" struggle with reporting, finding the requirement to build interfaces with multiple...

  11. CVA hedge losses prompt focus on swaptions and guarantees

    Since late 2012, Deutsche Bank has lost €443 million euros on hedges that cut its capital requirement for derivatives counterparty exposure – a trade-off banks face because the regulatory and accounting definitions of credit valuation adjustment...

  12. Financial entity definition worries US utilities

    But in an effort to make sure companies do not find ways to shirk the clearing requirement, Dodd-Frank also includes a catch-all provision that defines a financial entity as "a person predominantly engaged in activities that are in the business of...

  13. Citadel ‘nervous’ about lack of Sef competition

    O'Brien added he would like to see a clearing requirement because it could expand the available range of NDF counterparties. Firms warn dominance of Bloomberg and Tradeweb may not be healthy Derivatives end-users are increasingly worried that just...

  14. Shanghai launches renminbi derivatives clearing

    We will go at the second stage as this is a new product offering and there isn't a compulsory requirement," he says. CNY swaps and forwards can be cleared from November on SCH Shanghai Clearing House (SCH) will finally launch its voluntary clearing...

  15. Industry picks holes in BCR proposals

    Valuation frustration One particular area of concern is the valuation basis used to determine the present value of future liabilities under the requirement. But stakeholders say this could grossly overestimate the amount of capital necessary to...