Regulation
Coalition team takes over at UK Treasury
The UK's new Conservative-Liberal Democrat coalition government has named its joint treasury team.
Sarb points to pitfalls of exchange rate rigidity
South African Reserve Bank keeps rates flat as inflation outlook remains steady, adviser says exchange rates an important policy tool
Industry disappointed by lack of clout in CCP standards
Dealers complain a long-awaited draft of standards for derivatives clearing platforms fails to address key issues.
Trading Places 17.5.10
Read Trading Places for this week's movers and shakers in the global FX space.
CBRC plugs derivatives
BEIJING - Innovators of derivatives technology have found a backer in Yin Long, deputy director-general in the supervisory co-operation department of banking innovation at the China Banking Regulatory Commission (CBRC).
China draws on Japan experience
The message was clear at the FX Week China congress in Beijing last Tuesday, China will move on its currency, but at it’s own pace.
In Brief, May 3, 2010
What's going on in the FX technology sector.
Brazil raises intervention stakes
Nick Chamie of Royal Bank of Canada in Toronto reports on Brazil’s stance on intervention, as relayed by its finance minster at the Brazil Summit in April, and predicts how this will affect the real
ECB decision could be critical in Greek debt crisis
FRANKFURT – If Greek debt is downgraded again, much will depend on whether the ECB decides to keep accepting it as collateral.
Experts divided over central bank intervention
TORONTO - There were mixed views on the central bank intervention in currency markets seen since the crisis among speakers at the FX Invest North America congress in Toronto last Tuesday.
EU derivatives experts suggest threshold system for corporates
Legislators at the European Commission moved a step closer to determining whether non-financial users of over-the-counter derivatives should be forced to clear trades through central counterparties (CCPs) – a possibility corporates have vehemently…
Clearing exemption too close to call
Exempting commercial hedgers from mandatory clearing could create a loophole for the institutional investors often blamed for driving up commodity prices, according to the chief lawyer for the Commodity Futures Trading Commission (CFTC), reports Risk.net.
Senate reform bill to capture more end-users in OTC clearing requirement
Many more end-users of derivatives would be forced to clear over-the-counter trades with a central counterparty under language contained in the US Senate Banking Committee's latest version of its regulatory reform legislation.
Central bankers see reserve currency future for renminbi
The renminbi will over the long term become a reserve currency, according to a survey of central bank reserve managers carried out by Incisive Media's Central Banking Publications in autumn 2009.
Doubts grow about inclusion of Volcker rule in Senate bill
US legislative experts cast doubt on Volker's rule making it through the Congressional process
European Commission undecided on FX treatment
The EU has not made up its mind about exempting foreign exchange swaps and forwards in its forthcoming legislation.
US retail brokers dubious over NFA FX committee
Retail brokers question influence of committee on imminent retail leverage rules
Greek swap use may influence EU derivatives legislation
The clock is ticking for the EU to put its proposed regulation for over-the-counter derivatives on the table, but will Greece's controversial use of currency swaps mean even tougher rules on transparency? FX Week asked the Commissioner responsible for…
Europe excluded from CCP talks
The exclusion of European Union institutions from a technical working group set up to review risk management standards for central counterparties (CCPs) could make it difficult for the EU to reflect those standards in its forthcoming legislation on over…
MAS lifts structured notes ban for DBS, Malayan Banking and RBS
Regulator eases controls as dealers improve risk systems
Isda moves to improve consistency of documentation
Search for consistency in documentation
Bankers question definition of 'prop trading' at Senate Volcker rule hearing
WASHINGTON, DC – Senior bankers and academics have questioned the feasibility of new rules to prohibit US bank holding companies from engaging in proprietary trading, pointing to the difficulty of defining the activity and the limited impact such a ban…
A response to Obama's reform plan
Details are being eagerly awaited for US President Barack Obama's banking reform plans announced last week – chiefly, what they mean for the new prop desks that have set up, and for prime brokerage relationships.
Banks banned from prop trading under Obama plan
Financial institutions that own a deposit-taking bank could be forbidden from conducting proprietary trading for their own profit and prohibited from owning, sponsoring or even investing in hedge funds and private equity funds, under new reforms…