Derivatives
Watch out for Brexit cliff edge 2.0, experts warn
Measures to mitigate a sharp rupture for financial services could be less likely at end-2020
FCA takes over crypto asset supervision
UK firms must register with regulator to comply with anti-money laundering rules
EU central bankers urge UK to stay close on regulation
Klaas Knot and Luis de Guindos warn UK could lose out if it diverges from EU regulations, but Mark Carney says UK needs autonomy
Forex market growing, but more risky – BIS review
Reduced reliance on PvP and heightened fragmentation threaten market resilience
Singapore may allow trading in bitcoin-based derivatives
MAS opens consultation on proposal to allow trading of “payment token derivatives”
European pension fund liquidity may need to rise – Danish central bank
Central clearing exemption to expire in 2023 under market infrastructure regulation
US G-Sibs ‘dramatically’ cut exposure to Brexit risk – Fed research
Financial analyst unpacks individual banks’ exposures to the UK since referendum
Brainard hits back again at ‘tailoring’ regulations
Resolution plan changes and potential loosening of swap margins leave the system less safe, Fed governor warns
Researchers use option prices to gauge ZLB risk – San Fran Fed
Chance of rates hitting zero lower bound by the end of next year is 16%, researchers find
Emir data can give valuable insights on rate expectations – ECB paper
New methodology uses data on OTC transactions to track market expectations of interest rates
EU seeks to offer reassurance on Brexit clearing exemption
Commission can act quickly to stave off no-deal market disruption, insists official
30 years of central banking
Central banks face credibility tests on a number of fronts
BIS: forex volumes rise to $6.6 trillion as London trading soars
While the UK capital reinforces its prominence in forex markets, trading in Asian currencies heats up
FCA chief calls for EU to extend Brexit clearing exemption
Bailey also urges EU to grant equivalence determinations for UK trading venues
Mark Carney on joined-up policy-making, forward guidance and Brexit
BoE governor rules out negative rates and change to inflation targets, offers update on too-big-to-fail and use of CCyBs, highlights challenges of an asymmetric monetary system, hits out at cumbersome payments and warns Facebook’s libra cannot ‘learn as…
BoE paper models stress in non-bank sector
Authors highlight importance of “tipping points”, which can lead to amplification of stress
FCA proposes ban on sale of crypto derivatives to consumers
Regulator cites lack of understanding of crypto assets by consumers
New IMF data reveals non-banks drive capital flows when global risks rise
Evidence can be used to analyse how changes in industry mix can impact capital flow volatility, researchers say
Central Banking’s ‘Leaders’ for custody, banking and gold
Central banks want integrated custody platforms and real-time data from custodians as the low-yield environment drives demand for banking services and increases the relative attractiveness of gold
The IFF China Report 2019
Insight and perspectives from the world's leaders, premier policy-makers and financiers
The IFF China Report 2019: The Belt and Road Initiative
Over the past five years, China has invested more than $70 billion in Belt and Road Initiative (BRI) countries, of which there are now in excess of 100. Leading Chinese and international policy-makers explain how BRI efforts are progressing. This section…
Finding our way to the new Ibors
Richard Heckinger highlights possible pitfalls on the road to new reference rates
The IFF China Report 2019: Redesigning the international trading and monetary system
Reform of the financial system that brought about the 2007–08 financial crisis has not gone far enough and advanced and emerging market economies must find a more co-operative way forward to ensure globalisation can continue.
The turmoil test for emerging and advanced economies
Greater integration between advanced and emerging market economies during globalisation has made both more susceptible to risk of spillover – financial contagion and volatility. As the US continues to normalise its monetary policy, deputy governor of…