News and Notes

FSB report highlights ops, cyber and macrofinancial risks of FinTech

IOSCO issues call for comments on harmonising OTC derivatives data elements

Bank of England proposes to exempt claims at Central Banks from Leverage Ratio but raise ratio to 3.25%

BNY Mellon Research Finds Collateral Pressures Impacting Most Buy-Side Institutions

Chilton: Congress is basically launching a ‘flamethrower’ at financial regulations

Fed’s Powell presents five regulatory focus areas

BCBS: Range of practices in implementing the countercyclical capital buffer policy

Fed’s Powell says recalibrated Leverage Ratio, no capital for collateral and move to SA-CCR all on the table for CCP clearing benefits

At the New York Fed: Twelfth Annual Joint Conference with NYU-Stern on Financial Intermediation

Federal Reserve Board releases results of supervisory bank stress tests

ICMA publishes study into the state and evolution of the European credit repo market

Fed blog: Low Interest Rates and Bank Profits

McKinsey says banks will cut $1.2 billion in research spending with MiFID II, a 30% drop

ECB working paper: The leverage ratio, risk-taking and bank stability

Improved settlement and matching between Clearstream and Euroclear

Pirum and Wematch Securities announce collaboration

Broadridge launches SFTR solution

Clearstream and ColleX™ collaborate to offer simplified buy-side access to tri-party collateral management

ESMA consults on draft standards for trading obligations for derivatives under MIFIR

FSB releases consultation on the use of compensation tools to address misconduct

Tradeweb: Dealerweb Captures 18% of U.S. Inter-dealer Repo Trading

ESMA says Brexit and EU elections are biggest risks for 2017

Hazeltree whitepaper: “Active Counterparty Management – Critical to Managing Risk”

SIX adds US equities and fixed income to CO:RE repo platform

Tradeweb: Best Execution Under MiFID II and the Role of Transaction Cost Analysis in the Fixed Income Markets

IOSCO Task Force issues report on the regulation of wholesale market conduct

Bloomberg: Asian firms totally unprepared for MiFID II

European Commission strengthens ESMA for Capital Markets Union

US House approves Financial CHOICE Act

US House and Senate propose return of Constant NAV prime money market funds

ESMA updates MiFID II investor protection Q&A: post-sale reporting and appropriateness

UK FCA finds most firms following regulatory requirements in dividend arbitrage

IHS Markit partners with CloudMargin to launch collateral management solution

Bloomberg: How China’s Biggest Bank Became Wall Street’s Go-To Shadow Lender

FT: Banks in Asia hit by long arm of EU’s Mifid 2 rules

Misys and Broadridge release MiFID II reporting tool

DTCC merges its Global Trade Repository (GTR), Trade Information Warehouse (TIW) and DTCC-Euroclear GlobalCollateral businesses

Cinnober launches risk management system tailored uniquely to CCP needs

OCC seclending volume up 26% in May year over year

ESMA issues guidelines on CSD data reporting

ESMA consults on measures for CCPs to manage conflicts of interest

MTS launches D2C repo trading, LCH is first client

BNY Mellon creates new subsidiary for government clearance and tri-party repo

ESMA issues principles on supervisory approach to relocations from the UK

ISF: Broadridge testing blockchain in bilateral repo space

EU reaches agreement on reviving securitisation market

South China Morning Post: China’s regulator fines brokers for illegally providing margin financing services

FT Alphaville: Reminder: A “normalised” Fed balance sheet won’t be normal-sized

David Raccat launches Wematch.SecuritiesFinancing

Fed blog: Dealer Balance Sheets and Corporate Bond Liquidity Provision