Henning von Sachsen-Altenburg

Firms should not overlook conduct risks in switch to RFRs

Much of the discussion over switching from Libor to RFRs is around technicalities, such as value transfer and crucial though these factors are, firms should not overlook the conduct risks involved in the transition.

Mnuchin dismisses CLO fears, but frets about mortgage origination

During a Congressional hearing, US Treasury secretary Steven Mnuchin expressed concern for financial stability over the rapid growth of non-bank mortgage originators, but was more relaxed about the rise in CLOs. By Justin Pugsley. 

RWA calculations for emerging market banks need harmonising

The way emerging market banks determine their risk weighted assets (RWA) needs to be harmonised as their differing approaches makes comparing them difficult, said Fitch Ratings.

Corporate debt bubble threatens financial stability

Increasing non-bank corporate debt against a backdrop of slowing earnings and very low interest rates could prove to be a toxic combination for financial stability, according to a UK-based asset manager. 

Big tech firms may need to share data with banks

To create a level playing field, big tech firms may have to share their data on financial services customers with traditional banks, the Financial Stability Board (FSB) said in a report. 

US moving in wrong direction on regulation, says economist

The US is moving in the wrong direction by reducing financial regulation said Lawrence Ball, a Johns Hopkins University economics professor, adding that banks need robust rules. 

Survey finds risk and compliance concerns for US banks

Challenges around risk and compliance not only remain high in a number of key areas within US banks and credit unions, but have actually risen, according to Wolters Kluwer’s Governance, Risk & Compliance division.

Freedom of information request reveals high level of MiFID II reporting errors

More than 20% of asset managers are still making errors in their reporting to the UK’s Financial Conduct Authority (FCA) with regard to their obligations contained in the markets in financial instruments directive (MiFID) II. 

FINMA’s first ever risk report highlights issues such as Libor and cross-border market access

The Swiss Financial Market Supervisory Authority (FINMA) published its first ever risk monitoring report highlighting six main areas of concern, which include cyber attacks, the Libor transition and cross-border market access issues.

Legendary central banker Paul Volcker passes away at 92

The former chairman of the US Federal Reserve, Paul Volcker, who was famous for bringing US inflation under control in the early 1980s and later for the rule named after him to curb bank proprietary trading, passed away on December 8, 2019, aged 92.