Capital levels and resolution, and recovery plans for central counterparty clearing houses (CCPs) should be the main regulatory priorities for policymakers, according to a snap poll of delegates taken at a leading derivatives conference. By Justin Pugsley.
Financial Markets
European Council approves EU prospectus rules
EU prospectus rules gain European Council approval in boost to European Capital Markets Union.
Financial transaction tax could help plug EU budget holes
An EU-wide transaction tax could alleviate member state contributions to the union’s budget.
Libor alternatives start to take shape
After many delays and difficulties, industry and regulators are inching towards choosing alternatives to the London interbank offered rate, with the UK close to selecting one for sterling rates. By Justin Pugsley
EU bankers struggle with investor allocation rules
EU rules coming into force in 2018 on justifying investor allocations for new bond issues are proving a headache for banks, reports Justin Pugsley
Fragile repo markets skating on thin ice
The repo market has never quite recovered from the financial crisis and subsequent regulatory reforms. Industry sources say the market now urgently needs attention or the whole system of short-term funding for the financial system could be in jeopardy
FX working group unveils complete version of FX code of conduct
The Foreign Exchange Working Group has unveiled the complete version of the FX code of conduct designed to bring fairer and more ethical business practices to the vast global currency markets
IOSCO annual conference focused on market resilience and conduct issues
IOSCO annual meeting focuses on market resilience, financial misconduct and the role of capital markets in the real economy while taking on new signatories to its multilateral memorandum of understanding on cooperation
US firms given extension on uncleared margin rules for Europe trades
US firms trading over-the-counter uncleared derivatives in Europe given a deadline extension by the CFTC.
Seven countries lagging behind on derivatives rules
Seven countries have been singled out by the Basel Committee on Banking Supervision for falling behind on setting up domestic regulatory frameworks for uncleared over-the-counter derivatives.
