Latest articles from Philip Alexander

Commodities remain source of controversy for EU financial benchmark rules

Cora van Nieuwenhuizen

Parliamentary committee has approved a compromise, but folding commodity benchmarks back into the main regulation could spark problems.

US regulators look to close the gap on life reinsurance captives

Benjamin Lawsky

The National Association of Insurance Commissioners is thrashing out a deal to ensure life insurers hold adequate reserves, but its members are still divided.

EU officials seek to line up with TLAC plans

European officials have indicated the steps they may take to narrow the gap between the international concept of total loss-absorbing capacity and the EU's own bank resolution legislation.

Markets fret over derivatives fragmentation

A survey has shown that fragmentation of derivative markets due to regulation is causing concern, but trading venues may be able to appeal to a global audience if they provide the right access and liquidity conditions.

Tight timetable for insurance capital buffer

Regulators insist that the International Association of Insurance Supervisors will have sufficient time to finalise higher loss absorbency by the November 2015 G20 meeting, even though the first consultation is not due for publication until June.

SEC continues criticism of FSB

SEC commissioner Daniel Gallagher claims Financial Stability Board plans to designate non-bank, non-insurance systemically important financial institutions are part of a turf war between bank and securities supervisors.

EBA wins support for its CVA stance

The European Commission and parliament, together with industry associations, all appear to support proposals from the European Banking Authority that credit valuation adjustments should be moved into the market risk channel of the Basel capital framework.

Senior supervisors warn on algo trading

An influential group of financial supervisors believes the risks from algorithmic trading are growing, and is calling for tighter management and software controls on trading desks.

EIOPA steers Solvency II models approval

The European insurance regulator wants national supervisors to ensure sovereign risk is adequately modelled and to avoid making assumptions about third country equivalence.

Joint effort required for EU’s internal models overhaul


European banks favour some degree of convergence in supervisory practices, but the challenges for the European Banking Authority should not be underestimated.