Claudio Borio, head of the Bank for International Settlements
(BIS) monetary and economic department, has tried to answer a perennial
question in a speech in
Zurich this morning. Does the world need more major currencies to counter
the US dollar’...
Federal Reserve Bank of New York President
William Dudley has told a gathering that “the evidence that market liquidity has diminished is mixed”.
Speaking at a Federal
Reserve Bank of Atlanta event over the weekend, Dudley, who framed his remarks
US regulations have
failed to improve the FX market in the short-term, according to the buy side
representative at a discussion hosted by the Commodity Futures Trading
Commission (CFTC) today.
Angela Patel, trading
operations manager at Putnam Investments, was the ...
The Basel Committee on Banking Supervision has issued new
standards for Interest Rate Risk in the Banking Book, which it has handily
abbreviated to IRRBB. It says the standards revise the Committee’s 2004
Principles for the management and supervision of ...
Bob De Groot, the former global head of
spot trading at BNP Paribas, will have to wait another day to air his
grievances against his former employer in open court. De Groot was suspended by
the French bank back in ...
The Bank of England (BoE) has announced it will become the
administrator of the Sterling Overnight Index Average (Sonia) interest rate
benchmark on April 25.
Sonia was introduced in March 1997 by the Wholesale Markets
Brokers’ Association (WMBA), which has administered it ...
The Financial Conduct Authority (FCA) has
banned a former Royal Bank of Scotland (RBS) JPY and CHF Libor submitter from
basically ever working in the City again.
Paul White has been barred from performing
any function in relation to any ...
The European Parliament today agreed to
delay the implementation of MiFID II to January 3 2018. The decision follows a
recommendation made by the European Commission on February 10 to give financial
companies time to implement the somewhat complicated legislation. The European
Legal experts in London are edging closer to bringing civil
court claims cases against a number of banks for their alleged role in
manipulating the 4pm WM/Reuters Fix, despite the absence of a verdict from the
European Commission’s (...
The Basel Committee on Banking Supervision has today released a fresh consultative document and answered a set of frequently asked questions (FAQ) on revisions to its Basel III leverage ratio framework.
The Basel III framework was introduced to combat the ...