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From Puerto Rico to Greece, Credit Traders Put on the Defensive  

June 30, 2015

Trading in insurance-like contracts surged to the most in at least three months on Monday as investors and banks sought to preserve what little gains they still had for the year. The biggest exchange-traded fund that buys junk bonds dropped to the lowest level since December. And measures of credit risk in both Europe and the U.S. jumped.


CFTC Proposes Narrowing Wall Street’s Foreign Swaps Loophole  

June 30, 2015

The Commodity Futures Trading Commission voted unanimously Monday to propose a requirement that broadens when banks’ overseas divisions must meet U.S. collateral standards designed to curb risks in the $700 trillion swaps market.


Credit Risk Gauges in Europe Rise by Most Since Lehman on Greece  

June 29, 2015

A benchmark of credit-default swaps rose by as much as 20 percent to the highest in more than a year, according to data compiled by Bloomberg. Greek bank bonds dropped to their lowest levels on record and contracts insuring the Mediterranean nation’s sovereign debt indicated a 91 percent probability of default.


Leverage caps could reduce risk, says BIS  

June 29, 2015

The central bankers’ club has floated the idea of caps on leverage for asset management ­companies and restrictions on shifts in their investment port­folios to counter new risks in the financial system from the explosive growth in the $US75 trillion ($98 trillion) ­industry.


Latest wave of regulation could create challenges for the offshore funds industry  

June 26, 2015

The next implementation phase of the new European Market Infrastructure Regulation (EMIR) from the European Securities and Markets Authority (ESMA) could be a riptide that creates challenges for the offshore funds industry if businesses do not understand the potential impact and do not take steps to prepare.


Wall Street May Save Billions on Swaps in Regulator Squabble  

June 26, 2015

At stake is a proposed rule that has dragged on for years that could require firms like JPMorgan Chase & Co. and Morgan Stanley to set aside tens of billions of dollars in collateral when trading swaps with their own affiliates. Now, a last-ditch effort by bank lobbyists has helped spur some regulators to second-guess how strict they should be, according to three people familiar with the discussions.


Derivatives clearing diverts capital from long-term investing – PensionsEurope  

June 25, 2015

In a discussion paper on the Capital Markets Union (CMU), published to coincide with the industry group’s annual conference in Brussels, the association warned that a more coherent capital market could be undermined by regulatory requirements diverting funds away from investment opportunities.


Bond Buyers Easing Rating Requirements to Shop for More Deals  

June 23, 2015

Over the past year, more than 30 investment firms have eased internal guidelines that limited them to bonds rated by at least one or two of the top three graders: Moody’s Investors Service, Standard & Poor’s and Fitch Ratings, said Kim Diamond, Kroll’s head of structured finance.


Swiss Banks Likely To Continue Shoring Up Capital As SNB Proposes Higher Leverage Ratio Requirement  

June 23, 2015

The largest Swiss banks UBS and Credit Suisse may have to keep working on their balance sheet quality over the next few quarters, as the Swiss National Bank (SNB) is pushing for stricter rules governing their leverage ratio requirements.


Moody’s proposes new CCP ratings  

June 23, 2015

While some dealers and CCPs support standardised testing for risk comparison, others, including trade body IOSCO, warn that a one-size-fits-all testing framework would be difficult to design and could lead to the same risk management mistakes being made across all CCPs.

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