There are still numerous loose ends around the EU's Markets in Financial Instruments Directive II, and with less than six months to go before it goes live the industry is hoping regulators will take a lenient view on compliance. By Farah Khalique.
Latest articles from Farah Khalique
Delays and high failure rates hit FRTB implementation
The Fundamental Review of the Trading Book is a particularly challenging piece of text to implement, but banks trying to do so with the less capital-intensive Internal Model Approach are finding it particularly difficult as they face having to keep their models approved. Some are considering not bothering with it. By Farah Khalique.
Fragile repo markets skating on thin ice
The repo market has never quite recovered from the financial crisis and subsequent regulatory reforms. Industry sources say the market now urgently needs attention or the whole system of short-term funding for the financial system could be in jeopardy
UK’s Great Repeal Bill faces tight deadline as Brexit looms
The UK faces the monumental task of turning EU laws into domestic ones as it leaves the EU. However, plenty of other countries have trodden this path, not least countries formerly part of the British empire. By Farah Khalique.
Stakes rise in the battle for euro clearing
The UK’s decision to leave the EU has triggered an almighty tussle over who will host most of the euro clearing. Although London looks to be the likely loser, this is not yet a forgone conclusion. By Farah Khalique.
IOSCO stirs up secondary bond market debate
IOSCO has added fuel to the debate over liquidity in secondary corporate bond markets with its report on the topic. Its conclusions, however, seem to have upset some market participants.
Banks ponder motives behind EU holding companies initiative
The European Commission's proposals to regulate foreign banks in the EU through intermediate holding companies has upset non-EU banks, particularly US ones. Many see it as a political rather than a purely regulatory move
ESMA ratchets up toughness of clearing house stress tests
Europe’s clearing houses are on a tight deadline to file the results of the Esma-imposed stress tests this month, as the pan-EU regulator steps up its scrutiny of these increasingly systemically important institutions. By Farah Khalique
Equivalence: Britain's post-Brexit fallback
The UK's upcoming departure from the EU and likely the single market as well has raised a flurry of speculation over what will replace current trading rights. This has brought the EU's equivalence regimes for third countries into sharp focus
Regulators seek to make too-big-to-fail CCPs safer
While the European Commission frets over ways of insuring that too-big-to-fail clearing houses do not become the epicentre of a future financial crisis, might blockchain be a far better alternative?
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