Rehypothecation
‘Crypto Dad’ Giancarlo says DLT could have aided in Archegos
Former CFTC chair says managing collateral by distributed ledger technology would enable better oversight of risks
The effective supply of collateral in Australia
This paper attempts to quantify the “effective” supply of collateral assets in Australia by applying a measure of supply that adjusts outstanding issuance for two important features of the collateral market.
Impact of monetary policy on collateral reuse
The authors provide theoretical microfoundations to understand the impact of monetary policy on markets characterized by collateral reuse.
Collateral chains and incentives
The authors model the asymmetry between collateral values to the parties in the collateral chain. The paper highlights that collateral reuse can be socially beneficial if the costs of misallocation are not significant.
FSB’s Andresen: liquidity risks were underpriced pre-crisis
Top staffer at FSB addresses liquidity, bank risk data and securities financing risks in a wide-ranging interview
CFTC quizzes clearing banks over leverage-cutting tactic
Billions of dollars in client margin have already been moved off balance sheet
Prime brokers expanding but credit funds 'shoved out the door'
Bank overhaul of prime brokerage hurting some more than others
EU SFT rules on collateral consent create legal conundrums
Reuse, title transfer, reporting and derivatives in scope scrutinised
AIFMD segregation power lies with depository banks
Prime brokers forced to comply and change models, says lawyer
Collateral and counterparty tracking: Emerging initial margin requirements
Content provided by IBM
VAB’s Winter: Collateral rules risk derivatives and liquidity
Regulating collateral
Central clearing - challenges and progress: Part 1
EuroCCP's Diana Chan talks to Jessica Meek on the issues facing the clearing industry
Banks want derivatives collateral included in LCR
Received collateral is currently counted towards the liquidity reserve at some large banks, but should not be included in the LCR, say sceptics, who argue the assets can't be relied upon
Launch of interoperability not perfect
Interoperability has launched in cash equities with a system that is good, but not perfect
Fannie Mae says FHFA's margin rules would drive up hedging costs
US mortgage giant says segregating variation margin will hurt FHFA- and FCA-regulated entities, and create new funding obligations for swap dealers
Collateral: look, but don’t touch
Collateral: look, but don’t touch
Users of OTC derivatives are not prepared for regulatory onslaught
The raft of new regulations on OTC derivatives will be problematic for buy-side firms, says new report
Are there enough liquid assets to satisfy regulations?
Grease is the word
Rehypothecation dilemma
Rehypothecation dilemma
Winding down Lehman
In an exclusive interview with Risk, the administrators of Lehman Brothers International (Europe) discuss their role in handling the largest bankruptcy in corporate history, revealing how the process has raised questions about prime brokerage agreements,…