Articles by Viren Vaghela
Japan FSA proposes two phases for mandatory clearing
The proposals would force financial institutions to clear their yen interest rate swaps, although insurance companies and pension funds are absent from JFSA plans
Shanghai Clearing House becomes fifth in Asia to start OTC clearing
First onshore renminbi interest rate swaps cleared in China; two international banks sign up to new clearing service
BoE official calls for greater transparency on CCP margin modelling
Central counterparties should compete on quality of risk management, rather than a race to the bottom on margins, says Bank of England's head of payments and infrastructure
Chinese financiers hit out at 'blind' PBoC
China central bank accused of being blind to potential capital market reaction in its attempts to clamp down on the shadow banking sector
Basel securitisation reform creates 'perverse incentives’, says senior Japanese banker
Inconsistent rules are damaging financial intermediation, according to Takashi Oyama of Norinchukin Bank
Asia corporates unfairly ‘penalised’ by CVA capital charge
The move by European authorities to exempt European banks from holding CVA capital should be matched by regulators in Asia, according to senior bankers in the region
Higher Basel III pricing deters Asian banks from issuing new Tier II capital
Banks issued debt before the end-of-2012 deadline for Basel II capital, lessening their refinancing requirements for this year
Regulators in Asia target shadow banking sector
Regulators in Asia are striving to strike balance between regulating the shadow banking sector and letting Asian financial intermediation develop
Hong Kong regulator cautious about CoCos
The HKMA is unconvinced about banks issuing contingent convertible instruments, according its deputy chief executive, Arthur Yuen
Korea to start mandatory clearing in October 2013
Legislative hold-up means Korea OTC derivatives clearing will be delayed
Asia can ease collateral squeeze, says Clearstream chief
The global thirst for high-grade collateral resulting from OTC clearing will require Asia to play a greater role in future, according to Jeffrey Tessler, chief executive of Clearstream
LCR drives expanding Asian liquidity swap market
Insurers are increasingly providing liquidity swaps to banks in what is viewed as a growing trend in Asia
Korea to miss OTC clearing deadline
It is ‘highly unlikely’ Korea will meet the deadline to start clearing OTC derivatives by January 1, 2013, due to legislative delays, according to market participants
Bank of Japan concerned about wrong-way risk on banks’ cross-holdings
Helping banks by purchasing stock will create moral hazard, says Bank of Japan director-general
Video: New York Fed’s Marc Saidenberg denies US go-slow on Basel II implementation
New York Fed senior vice-president Marc Saidenberg says US is introducing Basel II at a similar pace to international peers and is also committed to timely implementation of Basel III
Video: BoJ’s Hiromi Yamaoka on the failure of global rulemakers to learn from Japan’s ‘lost decade’
Hiromi Yamaoka speaks about new recovery and resolution plans, the strength of the Japanese banking system and why he’s not worried about spiralling government debt
Risks lie ahead for China's internationalisation of renminbi, warn IMF, PBoC and HKEx officials
IMF Hong Kong representative, a former PBoC MPC member and HKEx chief warn of risks for China as the internationalisation of the renminbi starts to gather pace.
Risk officers concerned about regulators’ approach to branch liquidity
Some risk officers at international and domestic banks in the Asia-Pacific region are frustrated by the regulatory focus on country-by-country stress tests and a trend towards branch liquidity.