New rules have been adopted by the US Securities and Exchange Commission (SEC) that amend capital, margin and segregation requirements under Title VII of the Dodd-Frank Act for security-based swap dealers and major participants.
CFTC extends comment period on derivatives clearing consultation
The comment deadline for the proposed rulemaking to amend certain regulations that apply to derivatives clearing organisations is to be extended to September 13 from July 15, the US Commodity Futures Trading Commission (CFTC) said in a statement.
FDIC creating new unit dedicated to large complex banks
The Federal Deposit Insurance Corporation (FDIC) said it wants to centralise the supervision and resolution activities of large complex financial institutions into a new division called the Division of Complex Institution Supervision and Resolution (CISR).
Regulatory reforms distorting central bank monetary policy
Basel III and Emir have unleashed a series of unintended consequences on repo markets, which are distorting monetary policy transfer mechanisms
Second phase of SFTR could trip up some firms
Some market participants appear to be overconfident in their ability to meet their SFTR obligations. They could be in for a shock as the new rules continue to be phased in. By Justin Pugsley.
FSB looking to harmonise resolution of G-SIB derivatives portfolios
Starting with a consultation and discussion paper, the FSB appears to be attempting to harmonise regulatory regimes across jurisdictions for the solvent and orderly wind-down of a derivatives portfolio of a failing G-SIB. By Justin Pugsley.
UPI adoption gets nearer following DSB designation by FSB
UPIs are moving closer to industry adoption after the FSB designated the Derivatives Service Bureau as the service provider for these identifiers.
Rapidly evolving cyber threats prompt banks to beef up defences
Cyber has rapidly soared in importance as a risk to the financial system as banks become more digital. This has forced banks into an arms race against hordes of shady characters and organisations determined to steal from them or to disrupt their operations. By Justin Pugsley.
Think tank pushes for tweaks to Basel III to support emerging market banks
The stringent requirements contained in Basel III are making life difficult for emerging market countries and their banks leading to calls for the regime to be better calibrated for their needs
Long-term recovery rates on corporate debt higher than Basel Committee estimates
Banks tend to recover more capital on defaulted corporates loans and do so more quickly than is widely assumed by regulators. However, this may not result in lower risk weightings for corporate loans anytime soon
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