Swaps Clearing Deadline Nears

Swaps clearing deadline nears, as close to 250 to 300 U.S. investment managers are required to begin clearing swaps transactions by June 10th. According to Reuters, asset managers have been slow to create accounts with clearing houses for OTC derivatives, ahead of the mandatory deadline. This has led to an...

CME Group Launches Swaps Clearing in London

CME Group Inc. has launched a clearing service for interest rate swaps in London. The news comes a week after U.S. regulators began implementing mandates for rate swap clearing at CME’s headquarters. Reuters reports that the exchange operator’s London-based CME Clearing Europe won approval from...

Some UK Banks Need More Capital

Andrew Bailey, Head of the UK Prudential Regulation Authority, told Parliament’s Treasury Select Committee that some banks need more capital. Reuters reports that some of Britian’s largest banks need more cpaital, but the government has not yet been asked to put cash into the Royal Bank of...

FSA Report Reveals Poor Management

An internal report commissioned by the Financial Services Authority (FSA) revealed rate-rigging, highlighting how the regulator ignored or failed to follow up on a series of problems with the rates. The report, published today, is in response to the aftermath of the Barclays PLC settlement with...