Contributor: Daniel Parker
This blog post was originally published on FOW. The EU rejection of EMIR on February 5, 2013 is specifically directed at non-financial companies, such as airlines, agriculture firms and other corporates that use derivatives to hedge against commercial activities. The ruling likely provides much-deserved relief to non-financial hedgers by modifying, reducing or potentially eliminating a threshold-based clearing obligation.... read more
Contributor: Daniel Parker
This blog post was originally published in Wall Street Letter. Industry participants that oppose the onerous and complicated requirements of Basel III may succeed in permanently eliminating a U.S. implementation. Although it is likely that enhanced capital and risk standards, as mandated by the Dodd-Frank Act (“DFA”) will be implemented, they may however, depending on certain pending initiatives, be prescribed through government and industry collaboration. In response to a request by industry participants, the U.S. federal banking agencies, on November 9, 2012, released a joint release indefinitely delaying the January 1, 2013 U.S. implementation of Basel III.... read more
Contributor: Daniel Parker
This blog post originally appeared on TabbFORUM. Regulatory changes are among the most challenging events taking place in the financial industry today. The Dodd-Frank Act, as statutory authority, continues to demand a significant data process and collection re-engineering effort. For example, the newly adopted FINRA Rule 2111 which governs customer suitability for brokerage customers is applicable to all ...... read more
Contributor: Rich Chapman
"Shortage in liquidity will kill you instantly and excess liquidity will kill you over time" is a well-known industry saying which serves as a very real warning to banks across the globe of the dangers of poor liquidity management. These dangers are highlighted even more starkly by the waves of change that are washing over the banking world, ranging from Europe’s painfully drawn out debt issues to last month’s revelations that four major US banks failed their latest rounds of stress tests. All in all, banks’ liquidity management strategies (or lack of) are very much under the spotlight. ... read more
Contributor: Tony Scianna
Have settlement fails become unsettling? In a time when industry participants are grappling with numerous daunting challenges spanning financial regulation, cost control, and operational efficiency, settlement fails have suddenly become a newsworthy concern. Why? On February 1, 2012, the Treasury Market Practice Group (TMPG) expanded penalties to cover mortgages and agency debt fails.... read more
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