Dealers see danger in CFTC's $50m clearing capital limit

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Risk.net Regulation News Update 21 October 2011 This Week's Top Story Dealers see danger in CFTC's $50m clearing capital limit CFTC says 38 FCMs would be able to act as OTC clearing members under $50 million capital limit - but dealers fear it will weaken CCPs, and call for tough membership rules to redress the balance Categories: Clearing and settlement, Regulation Topics: Dodd-Frank Act, Commodity Futures Trading Commission (CFTC), Central counterparty (CCP), Derivatives clearing organisation (DCO), LCH.Clearnet ... Mobile RSS Risk USA 2011 October 31 – November 3 The full agenda for this year's Risk USA is now available. Visit riskusa.com, topics to be discussed at this year's event include: Dodd-Frank implementation and its affect on the financial industry Market, liquidity and operational risk, portfolio management and asset allocation, systemic and credit risk, quantitative risk management strategies, risk and investment challenges facing banks institutional investors, asset managers; insurance firms, pension funds and large non-financial corporates. More of this week's news Fink: Billions could flow into preferreds as banks recapitalise BlackRock chief calls for perpetual preferred shares to be counted towards Tier I capital at Europe's banks US watchdog spots conflict of interest with Fed director roles US Government Accountability Office identifies three examples where senior bank executives might have benefited from their positions on regional Federal Reserve boards Turner warns of capital requirements dilemma FSA chair Adair Turner insists on the consideration of counter-cyclical macro-prudential policies in the run-up to regulatory structure overhaul Regulatory experts say EU's naked CDS ban is ill-judged The new rules are "another instance of the authorities blaming the wrong people and imposing the wrong policies", says Cass's Ian Marsh Lords take Vickers to task over robustness of plans Vickers faced fierce questioning on Independent Commission on Banking's final report and recommendations; incentive for banks to cheat the system discussed FX Week Asia: Options clearing on hold, prime brokers confirm Forex clearing will be restricted to non-deliverable forwards as US authorities discuss whether settlement risk can be properly managed for cleared forex options, according to speakers at the FX Week... A divided CFTC approves new commodities position limit rules "The pursuit by industry of legitimate and appropriate risk management is now made unduly onerous," says CFTC commissioner Scott O'Malia iShares launches campaign to help ETP investors identify risks BlackRock subsidiary takes action after last week's call for more transparency around exchange-traded products Emerging markets focus to boost NDFs despite clearing costs Growth of non-deliverable forwards market will not be hit by impending clearing laws CRD IV should reflect Emir exemptions, says Bowles Chair of European Parliament's Econ committee believes CRD IV should mirror Emir corporate exemptions, but has not yet decided whether sovereign counterparties should enjoy the same benefit Related news this week from other categories Citigroup settles CDO charges for $285 million The SEC has ordered Citigroup to pay $285 million to settle charges relating to a short position taken against its own CDO investors FX Week Asia: Corporate hedgers rattled by volatility Tumultuous foreign exchange market in September has left some hedging strategies in disarray and led to more timely exposure monitoring in one treasury department, say corporate treasurers speaking... FX Week Asia: World economy 'needs alternative reserve currency' Chinese renminbi looks poised for reserve status, but still no consensus on when it will happen due to forces beyond "anyone's control", senior academic tells FX Week Asia conference in Singapore   Related publications: Risk magazine, Operational Risk & Regulation, Life & Pension Risk, Central Banking Related categories: Risk Management, Investment

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