Central counterparty (CCP)
CCP stress tests have found capital shortfalls – Esma
Small increases to stress-test scenarios would have left ICE Clear Europe “in material breach”
Carstens: regulators should not forget the non-banks
Banking standards may be largely complete but there is still work to do on non-banks and fintech, the new BIS chief says
BoE sets out post-Brexit supervision plans
Central bank says UK will aim to stay open as banks, insurers and CCPs are brought under the PRA’s oversight; changes imply heavy workload for the supervisor
Fed backtracks on CCAR cleared swaps exposure
Regulator had also postponed plan to feed cleared client exposure into G-Sib rankings
CCPs say central bank access needed to avoid liquidity crisis
Uniform access to deposit accounts and overnight liquidity vital, say market participants
Carney warns against splitting London’s euro clearing
Europe would suffer more than the UK if euro clearing moves to the EU post-Brexit, Bank of England governor says
US Treasury hands CCP resolution powers to FDIC
Mnuchin regulatory review explicitly refers to FDIC as receiver under a Title II resolution
ECB welcomes European Commission’s CCP proposals
Suggested policy would give all EU central banks greater regulatory role
ECB calls on Commission to rethink CCP resolution and recovery plans
Proposals need to shift focus from stand-alone recovery, ECB says
FSB turns to video in effort to widen comms reach
“Safer, simpler, fairer” video seeks to broaden communications effort to a less specialised audience
CCP network study uncovers highly concentrated core of firms
First data-collection exercise of its kind reveals a concentrated core and more dispersed periphery, with the possibility of shocks spreading outward
Fixing the ‘perverse incentives’ in the SLR
Richard Heckinger warns the US’s supplementary leverage ratio in its current form discourages banks from using central counterparties
Commission’s CCP powers ‘might not lead to exodus from UK’
US regulation of CCPs provides a “plausible template” for the eurozone, says commentator
ECB requests powers to regulate CCPs
Brexit heightens concern over importance of central counterparties
Commission should have power to order CCPs to relocate to EU – Cœuré
The power would be one among many, says ECB executive board member
French regulator lays out plan to capture London euro clearing
AMF calls for equivalence to be scrapped for biggest CCPs and trade repositories
US regulators asked to play greater role in cyber security
Financial institutions cannot battle threats on their own, the CFTC is told
A CCP is a CCP is a CCP
The challenge of establishing standards for CCP risk management and resilience is even more difficult when policymakers view CCPs through the lens of banking regulation
Esma sets out 2017 work programme
Strategy and governance among key priorities, Maijoor says
FSB issues draft guidance on CCP resolution
Regulators’ powers should include “bail-in” and “full tear-ups”, FSB recommends; regulators should have resolution plans for all systemically important CCPs, including cross-border provisions
EBA and Esma request clarification of CCP regulations
Agencies query areas of ambiguity for clearing houses’ derivatives transactions
Mixed views on Dodd-Frank rollback
No need to dump central clearing and electronic trading mandates, market participants say
Dealers urge further clarity on rules for ailing CCPs
New European rules stop short of defining resolution triggers
CCP default risks not correlated, CFTC finds
Timothy Massad: stress tests reveal “quite a bit of diversification” in CCP exposures