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Regulation

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  • There are hints that the European Union member states may be pressing the E.U. to extend proposed regulations of the over-the-counter derivatives market to the entire derivatives sector.
  • The U.S. Commodity Futures Trading Commission plans on setting position limits based on data it expects to collect under a proposed swap trader’s reporting ruling, according to Dan Berkovitz, general counsel at the CFTC.
  • Jamie Dimon, ceo of JPMorgan Chase, has criticized proposed regulations to govern credit default swaps, saying they “would damage America.”
  • The Commonwealth Bank of Australia has launched its first residential mortgage-backed securitization deal in three years.
  • The Irish government is said to be considering a merger of EBS Building Society and Allied Irish Banks, the country’s fifth- and second-largest banks, respectively.
  • The latest round of stress testing on Irish banks has concluded with the country’s four largest requiring an additional €24 billion ($34.05 billion) of capital to withstand another crisis.