Bank of England Cites Euro Crisis as Biggest Risk

The Bank of England has issued a report citing bank stress and the euro sovereign debt crisis as the biggest short-term threats to global financial stability. As the conversation about the long-term risks posed by fragmentation of data and CCP allocation in the U.S. market heats up, the Bank of England’s...

OTC Derivatives Clearing Mandates in Europe by…August, 2013?

Clearing regulations for OTC derivatives will not be in place for another ten months, according to the head of payments for the Bank of England. Speaking an OTC derivatives summit yesterday, Edwin Schooling Latter stated that a recent European Securities and Markets Authority (ESMA) publication has clarified...

BoE Official Calls for Basel III Rethink

Saying that the Basel III accord is too complex to effectively fulfill its purpose, the Bank of England’s executive director for financial stability has called for the regulatory framework to be simplified. “The Tower of Basel is at risk of over-fitting – and over-balancing. It may be time to rethink...