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Citigroup Wants Foreign Sovereign Debt Exempt From Volcker Rule
Posted on Mon, Feb 27, 2012 @ 2:20
By Tom FairlessPublished February 26 2012 Wall Street Journal Foreign sovereign debt should be exempt from a proposed U.S. ban on proprietary trading, Citigroup Inc.’s head of global consumer banking said Saturday. “We see some risks to our financial system” from the so-called...
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G20 Turns Up Pressure on Germany
Posted on Mon, Feb 27, 2012 @ 2:18
By Robin Harding, Adam Thomson, Peter SpiegelPublished February 26 2012 Financial Times Finance ministers from the world’s largest economies ratcheted up the pressure on Germany to increase the size of the eurozone’s €500bn rescue fund, saying the move would be “essential”...
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US SEC’s Paredes Calls for Reproposed Volcker Rule
Posted on Mon, Feb 27, 2012 @ 2:14
By Sarah N. LynchPublished February 24 2012 Reuters A key U.S. securities regulator on Friday called for a “re-proposal” of a controversial ban on banks’ proprietary trading, saying he fears a rush to implement it could cause major harm to...
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CFTC’s O’Malia Calls for Government Review of Dodd-Frank Costs
Posted on Mon, Feb 27, 2012 @ 2:12
By Silla BrushPublished February 24 2012 Bloomberg A Republican member of the U.S. Commodity Futures Trading Commission is seeking an Office of Management and Budget review of Dodd-Frank Act derivatives rules that he says have gotten insufficient scrutiny from his agency. full...
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Geithner Says Volcker Rule Likely to Provide Exceptions for Market-Making
Posted on Mon, Feb 27, 2012 @ 2:02
By Ian KatzPublished February 24 2012 Bloomberg U.S. Treasury Secretary Timothy F. Geithner said he’s confident regulators will be able to complete the Volcker rule ban on proprietary trading while allowing exceptions for market-making. full article (free)
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EU Regulator Takes Issue With Volcker Rule
Posted on Fri, Feb 24, 2012 @ 2:47
By Ronald D. OrolPublished February 23 2012 MarketWatch A European Union bank regulator on Thursday raised concerns with a controversial U.S. proposal that seeks to rein in bank speculative trading named the Volcker Rule, arguing it could impair the ability...
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Futures Markets Could Get OTC-Style Safeguards
Posted on Fri, Feb 24, 2012 @ 2:44
By Ramya JaidevPublished February 24 2012 Risk Magazine Futures markets could get new, tougher rules on the protection of client collateral as a result of MF Global’s collapse – possibly modelled on the approach.. full article Read More →

CFTC plan sheds light on delays for block trades

Posted on Fri, Feb 24, 2012 @ 2:37

By Christopher DoeringPublished February 23 2012 Reuters UK The U.S. futures regulator on Thursday approved a measure that provides more insight on when dealers can delay reporting large over the counter swap transactions with sensitive price and size information...
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Regulators Adopt New Derivatives Rules

Posted on Thu, Feb 23, 2012 @ 9:45

By Ben ProtessPublished February 23 2012 NYT/Dealbook The big banks and traders that dominate the $600 trillion derivatives industry will face new oversight under a plan approved by regulators on Thursday. full article (free)

Europe’s Battered Lenders Turn to Retrenchment

Posted on Thu, Feb 23, 2012 @ 4:21

By Marietta CauchiPublished February 23 2012 Wall Street Journal World financial markets may have breathed a collective sigh of relief over the rescue package for Greece, but European bank stocks have fallen since the announcement Tuesday. full article Read More →

G20 Plots Course on Reining in “Shadow Banks”

Posted on Thu, Feb 23, 2012 @ 4:11

By Huw JonesPublished February 22 2012 Reuters Policymakers from the world’s top economies meet this weekend in Mexico City to begin finding common ground to tackle the world’s economic challenges, which include reining in a $60 trillion financial sector...

Banks Lobbied to Widen Volcker Rule Before Inciting Foreigners Against Law

Posted on Thu, Feb 23, 2012 @ 3:58

By Yalman OnaranPublished February 22 2012 Bloomberg U.S. banks pushed regulators to widen proposed restrictions on trading and hedge-fund ownership by foreign firms, then encouraged governments around the world to complain about the rule’s reach. full article Read More →

CFTC Rule to Shed Light on Delays for Block Trades

Posted on Thu, Feb 23, 2012 @ 3:51

By Christopher DoeringPublished February 23 2012 Reuters The U.S. futures regulator will shed more light Thursday on how it will determine the threshold in which dealers can delay reporting large over-the-counter swap trades to the rest of the market. full article Read More →

Market Welcomes ‘Pragmatic’ Approach to Central Clearing by MAS

Posted on Thu, Feb 23, 2012 @ 3:40

By Aaron Woolner, Justin LeePublished February 22 2012 Risk Derivatives market participants have welcomed the decision by the Monetary Authority of Singapore (MAS) not to insist on the use of a specific clearing… full article Read More →

EU Governments Back New Rules On Short Selling, CDS

Posted on Wed, Feb 22, 2012 @ 2:54

By Alessandro TorelloPublished February 22 2012 Dow Jones European Union governments gave their final backing Tuesday to new rules to limit short selling and the trading of certain aspects of credit default swaps, in an effort to reduce speculation...
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Greek Crisis Raises New Fears Over Credit-Default Swaps

Posted on Wed, Feb 22, 2012 @ 2:45

By Peter EavisPublished February 21 2012 New York Times Greece’s debt restructuring is dragging credit-default swaps back into the spotlight. The last time this financial instrument was on the global stage was in 2008, when the American International Group’s credit-default swaps brought the insurer,...

Banker Pay on Agenda for Barnier Meetings With U.S. Regulators

Posted on Wed, Feb 22, 2012 @ 2:40

By Jim BrunsdenPublished February 21 2012 Bloomberg Michel Barnier, the European Union’s financial services chief, will discuss banker bonuses with U.S. regulators during a visit to the country this week. full article (free)

French Parliament to Vote on Financial-Transaction Tax, VAT

Posted on Wed, Feb 22, 2012 @ 2:30

By Helene FouquetPublished February 21 2012 Bloomberg France’s lower chamber of Parliament will probably today pass President Nicolas Sarkozy’s bills to create a tax on financial transactions and to increase the country’s main value-added tax to 21.2 percent. full article Read More →

CFTC Delays Vote on Swap Dealer Designation

Posted on Wed, Feb 22, 2012 @ 2:15

By Gregory MeyerPublished February 22 2012 Financial Times A vote to draw a line under the biggest traders in US derivatives markets, subjecting them to extensive new rules, has been cancelled in the latest delay to reforms passed in response...

Are Commodity Merchants “Swap Dealers” By Any Other Name?

Posted on Tue, Feb 21, 2012 @ 2:13

By Chris BaltimorePublished February 21 2012 Reuters Big energy companies like Royal Dutch Shell (RDSa.L) and commodity merchants like Cargill CARG.UL have a simple argument in pushing back against looming new swap market rules: We’re not a bank, so don’t...

This is Where Financial Regulation Gets Really Nasty

Posted on Tue, Feb 21, 2012 @ 2:11

By Ben WrightPublished February 20 2012 Financial News Nobody, nowadays, would deny that the financial industry needs to be better regulated. But, if you are anything like most of people I talk to, you are probably getting a little annoyed...