Derivatives
Bank’s Haldane borrows from science to explain systemic threats
Bank of England’s Andrew Haldane collaborates with scientist Lord Robert May in top journal Nature to highlight implications of interconnections between firms on stability of the financial system
Israel unveils measures to brace against inflows
Bank of Israel introduces reporting rules, reserve requirements on foreign exchange derivatives trades; measures intended to clarify nature, limit inflows
Hong Kong lawmakers to enforce mandatory CCP by the end of 2012
Hong Kong joins Japan in mandating central counterparty clearing for OTC derivatives with CCPs and a central repository expected to be set up in the coming months.
BIS survey shows OTC market levelling off
Notional volume and credit exposures are growing more slowly, latest market data shows
Hedging activity growing in the Philippines
While authorities in the West increase derivatives regulation, the Bangko Sentral ng Pilipinas has liberalised rules governing both hedging and yield enhancement markets in the past few years. Despite the challenges in expanding penetration in a market…
Regulators kick off derivatives reform discussion
Market participants call for clearing decisions to be left to market forces and caution regulators about clearing house ownership
EU’s Barnier: paradigm shift in regulating OTC derivatives
European Commission commissioner for internal market and services Michel Barnier says concept of light touch regulation is history
Corporates should be forced onto central counterparties – BIS
Central counterparties are wrongly perceived as being more expensive than OTC transactions, says a leading economist
Volcker rule fails to make approved Dodd bill
Key amendment omitted; Fed gains powers but will face audit in sweeping regulatory reform
Senior US lawmakers flag room for manoeuvre on derivatives reform
Senate Banking Committee head Chris Dodd and derivatives overhaul author Blanche Lincoln say negotiation still possible on controversial derivatives package; clearinghouse clause looks set to stay
Fed advice cited in Senate vote against reform bill
Regulatory reform bill falls short of votes required for debate, Republican senator cites message from Fed staff criticising last-minute derivatives provisions
Interview: Robert Shiller
Robert Shiller, one of the leading authorities on the American housing market and the structured products built around it, talks to Malan Rietveld about the causes of the current crisis and the policy response