Articles by Peter Madigan
Volcker fights back as prop-trading ban comes under attack
Former Fed chair tells Risk.net that calls for total overhaul of eponymous rule are misplaced
US custodians face G-Sib capital hit
Banks warn client funds could be rejected or fees raised to meet new capital demands
Former SEC chair urges US to accept use of NGAs for overseas swaps
Recent focus on US banks' use of non-guaranteed affiliates risks taking regulators down a slippery slope - issue could be tackled via disclosure instead, argues ex-SEC chair Harvey Pitt
Regulation may force some banks out of repos, says NY Fed's Davis
The New York Fed's head of financial market infrastructure, Jeanmarie Davis, says some banks will 'revisit their presence' in the repo business due to increased regulatory requirements
Volcker questions remain as metric reporting begins
US banks with more than $50bn in assets will be required to report trading metrics to regulators from July 1, but confusion remains around hedging and market-making exemptions
Wall Street hoping for Fed reprieve for derivatives desks
Investment banks fear they will be subject to section 716 of the Dodd-Frank Act unless Federal Reserve gives relief
CFTC's O'Malia: No progress on Sef rules in past two weeks
Mid-April next window for vote, but no reason for optimism, says CFTC commissioner
Regulators called on to restrict loan modelling choices
Less modelling freedom makes sense, says loan data expert – and the alternatives would be far worse
CFTC-SEC swap ruling starts Dodd-Frank compliance race
Publication of swap rule will mark start of 60-day countdown to compliance with registration and reporting rules. Industry will find it 'quite challenging' warns CFTC's O'Malia
Libor manipulation lawsuits could cost banks ‘tens of billions’
Barclays' $450m settlement gives lawyers smoking gun evidence of attempts to tamper with benchmark rates
JP Morgan loss was bungled attempt to cut Basel III RWAs, says Dimon
Loss-making unit's RWAs would have tripled under Basel III, JP Morgan chief executive says - but attempting to cut capital burden made its hedges more complex
International regulators uneasy over Volcker rule
Ban on proprietary trading could affect liquidity in non-US bond markets, regulators argue
Risk USA: US regulators “scared to death” by eurozone debt crisis
The sovereign debt crisis is a concern, but direct US bank exposure is manageable, says senior OCC official
ECB threatens to stop trading swaps with US counterparties
ECB invokes US legal amendment providing it with broad immunities and says it might stop using US dealers unless granted exemptions from Dodd-Frank Act rules
Regulators may not have authority to delay Dodd-Frank, warn lawyers
Some lawyers claim the CFTC and SEC may not have power to delay enforcement of the Dodd-Frank Act – a grey area that could lead to disputes
Future of Supervisors' letter process unclear in wake of Dodd-Frank
Swap clearing legislation threatens to render OTC market commitments redundant
FCIC report: the major findings
Risk summarises the major conclusions from the commission report
Risk USA: Paulson refused to save Lehman over 'bailout guy' characterisation
Former White House economist details civil war between Bush administration and US Treasury
Homogeneous regulations could contribute to risk, says former Brazil central bank chief
Arminio Fraga warns about the use of globally standardised methodologies for regulatory capital, as well as the dangers of multiple central counterparties
JP Morgan slashes commodity desks
Fate of other prop desks unclear ahead of enactment of Volcker Rule
Dodd-Frank passes but leaves questions unanswered
Financial reform legislation passes in the US Senate, as focus turns to the complex issue of implementation