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European Commission HQ

EU authorities open to considering technical tweaks to MiFID II

An upcoming review of MiFID II has been welcomed by the industry as an opportunity to make some technical changes to the directive so it is easier to comply with

Colleen Baker web

Battle between CCPs and their members steps up a notch

Clearing house members are becoming increasingly determined to force clearing houses to shoulder more risk as part of the services they provide and are taking their message to regulators

Libra

Supervisors question stability of stablecoins

Stablecoins are the latest cyber-asset trend to worry supervisors who are concerned that they may pose a systemic threat and could even undermine central bank monetary policy

BPI sees likelihood of more repo market volatility at year-end

Despite the US Federal Reserve Board’s actions to stabilise the repo markets, rates are likely to spike again at year end due to the global systemically important bank (G-SIB) capital surcharge, said the Bank Policy Institute (BPI)

Dombrovskis spells out commission priorities around green finance and deeper EU capital markets

In a speech about Europe’s capital markets, European Commission vice-president Valdis Dombrovskis discussed the new commission’s priorities for sustainable and green finance. 

FSB sees limited further progress on implementing OTC derivatives reforms

Between the end of November 2018 and the end of September 2019, further progress has been limited on implementing reforms for the over-the-counter (OTC) derivatives market, the Financial Stability Board (FSB) said. 

Firms warned to comply with bank rules on crypto-assets

Three US regulatory agencies have warned in a joint statement that the financial services industry must comply with banking rules when it comes to crypto-currencies.

US agencies propose initial margin exemptions for swap affiliates

Five agencies are proposing that swap entities would not have to hold initial margin for uncleared swaps with their affiliates while inter-affiliate transactions would still be subject to variation margin requirements.

Jerome Powell

Fed struggles to find solution to ‘puzzling’ repo spikes

Analysts remain rattled by the September cash crunch and predict more turbulence in December. The Fed is propping up US repo markets but has stopped short of relaxing bank capital and liquidity rules. 

Financial firms call for CCPs to have more ‘skin in the game’

Nine large financial firms are calling on supervisors to force central counterparty clearing houses (CCPs) to carry more capital and to have clearer resolution plans as they fear they still pose a systemic risk.