United Kingdom (UK)
Italian banks hardest hit by IFRS 9 transition
Risk Quantum analysis of 36 banks from 11 European Union countries found that capital declined on average by 34bp between December 31, 2017, and March 31, 2018
Local laws may save legacy swaps from Brexit migration
Exemptions from local authorisation may open a backdoor to servicing UK-EU contracts after Brexit
European banks face forex volatility on bail-in ratios
Use of funding in foreign currencies creates new risk, especially in non-eurozone countries
Brexit: banks consider four ways to move swaps en masse
Statutory business transfers in frame as bilateral novation may take too long
Barclays and HSBC impairment provisions soar
Barclays’ provisions increase 54%; HSBC’s by 29%
StanChart hopes reg spending has peaked as costs drop 5%
Bank reports a $63 million quarter-on-quarter drop
HSBC reclassifies debt to bolster Tier 2 capital
Review of securities to add 40bp to bank's total capital ratio
Going local: Brexit prompts rethink on MREL governing law
One EU regulator has already asked banks to avoid reliance on English law for bail-in
BP net derivative assets top $1.5 billion
Hedging instruments fair values rise while oil prices surge
RBS model change loads on credit RWAs
RBS's total RWAs increase for the first time since 2015
Legal woes drain Barclays' capital
A $2 billion fine from the US Department of Justice contributed to a 60bp CET1 capital ratio decline
Swinburne: post-Brexit financial services deal could work
Isda AGM: Idea of comprehensive EU-UK deal immediately worries CFTC official
IFRS 9 transitional measures save Lloyds £572 million
Capital relief equivalent to 30 basis points uplift to CET1 ratio
BoE creates volatility adjustment ‘stepping stone’ for insurers
Dynamic VA may be used for assets that fail to qualify for matching adjustment, say experts
US swap rate failed during volatility rout
The Ice swap rate was not published on February 6 due to a lack of electronic prices during equity turmoil
FCA: Libor contract changes shouldn’t trigger margin rules
Moving from Libor to an RFR shouldn’t force margin requirement on legacy non-cleared trades, says UK regulator
Regulator prepares crackdown on inaccessible Mifid data
UK regulator says approved publication arrangements not observing spirit of the rules
Credit data: UK retail sector’s woes continue
High street fails to get over Christmas slump; elsewhere, global PDs remain in flux, writes David Carruthers of Credit Benchmark
Barclays op risk chief departs
Outgoing head to be replaced by chief controls officer at the UK bank’s group service company
Swaps basis leaps as LDI funds prep for Libor’s death
Gap between 30-year Libor and Sonia swaps surges 36% in three weeks