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GC Asia
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Swaptions at risk in €STR transition, warns ECB working group
The European Central Bank’s private sector working group on euro risk-free rates has recommended market participants replace Eonia products with €STR-referencing derivatives “as soon as possible” and flagged a threat to swaptions in the transition.
20 Feb 2020 -
Battle over high stakes position limits coming as EC reopens commodity derivs question
A politically charged fight over position limits on commodity derivatives appears set to kick off after the European Commission opened a consultation on the second Markets in Financial Instruments Directive (MiFID II) this week.
20 Feb 2020 -
European Commission opens MiFID II consultation
The European Commission has opened a public consultation on MiFIR/MiFID II, as it takes stock of two years of the sweeping regulations.
17 Feb 2020 -
CFTC’s Behnam urges action on Libor fallbacks
US Commodity Futures Trading Commission (CFTC) commissioner Rostin Behnam has added his voice to the growing clamour for derivatives market participants to find a solution to fallback issues as they transition away from Libor.
13 Feb 2020 -
BoE’s Woods ‘cautiously optimistic’ on EU-UK clearing agreement
Sam Woods, deputy governor at the Bank of England and chief executive of the Prudential Regulatory Authority, this week said he expects an equivalence agreement between the European Union and the UK to be extended beyond September, as both sides want to avoid a “dramatic” fallout.
12 Feb 2020 -
Santander scores solution for costly undrawn revolver exposures
Santander has bought credit protection on two portfolios of undrawn revolving credit facilities, taking advantage of a regulatory decision last year to sharply boost the efficiency of the protection. The deal points the way for banks to cut the costs of providing revolvers, which are usually extended as a ‘loss leader’ for a broader banking relationship.
10 Feb 2020 -
ISDA reopens divided pre-cessation consultation after regulator clarity
The International Swaps and Derivatives Association this week said it will make another attempt to finally find industry consensus on a solution to fallback issues in the Libor transition.
06 Feb 2020 -
EBA plans to clear up risk transfer tests
The European Banking Authority will be consulting on its approach to risk transfer by the end of the second quarter, with the treatment of excess spread likely to be a crucial topic for issuers and investors in the securitization market.
06 Feb 2020 -
SEBI opens doors for offshore FX derivatives trading
The Securities and Exchange Board of India (SEBI) has given the go-ahead for trading in rupee futures and options, allowing the development of offshore markets in the products.
04 Feb 2020 -
More calls for lenders to take Libor transition stance
Corporate debt advisers have joined the call for lenders to make clear their plans for the transition away from Libor, as frustration takes hold among some bank clients that a solution still seems far away.
28 Jan 2020
