Swaps clearing deadline nears, as close to 250 to 300 U.S. investment managers are required to begin clearing swaps transactions by June 10th.Read More
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.
Andrew Bailey, Head of the UK Prudential Regulation Authority, told Parliament’s Treasury Select Committee that some banks need more capital.
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 regulators.