News from the economy, politics and the financial markets
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Latest news
UK’s benchmark rewrite threatens access to Asia NDF fixings
Key offshore rates likely to fall in new regime’s scope, potentially pushing them out of bounds
Banks urge Singapore to relax exposure limit on crypto assets
Lower capital for tokenisation and stablecoins welcomed, but cap will curb bank involvement for now
BoE’s Lintern steps down as head of FX
FX division will now be steered by Ankita Mehta, most recently head of cross-firm analysis and supervision
Why are FX markets settling for less?
Payment-versus-payment settlement has barely risen in the past 20 years. Perhaps it’s time for a new approach
Europe ‘lagging behind’ US in crypto markets
Mica made Europe first mover, but rapid US adoption leaves the region trailing, market participants say
Double, but no trouble? CVA capital hit may lack clout
Industry opinion mixed around Basel III endgame derivatives charge
Doubts swirl over future of FX cartel case
Group of banks accused of manipulation have filed for the class action to be dismissed
EU task force boss calls on NCAs to wield their powers to meet T+1
Europe’s disparity will add to command hub’s challenge to match US co-ordination feat, says Giovanni Sabatini
Korea’s leveraged ETF expansion aims to stem overseas outflows
Retail flows to US and Hong Kong listings may have exacerbated FX fragility
Isda’s Basel III playbook: speak softly and carry a big QIS
Scott O’Malia on capital reforms, repo markets and tokenised collateral
Isda’s Basel III playbook: speak softly and carry a big QIS
Scott O’Malia on capital reforms, repo markets and tokenised collateral
US policies eroding dollar’s position, say Knot and Obstfeld
Euro and renminbi unlikely to supplant greenback, but “more multipolar” system could arise
