Risk-Based Approach Urged for LIBOR Replacements As banks and other financial services organizations move away from the London InterBank Offered Rate (LIBOR), the Office of the Comptroller of the Currency (OCC) has issued a bulletin that includes a self-assessment guide to help firms evaluate their preparedness for the end of LIBOR. In the “LIBOR Transition:… Read More >>
Innovation Will Thrive in 2021: Greenwich Associates
As we are seeing this week via domestic and international events, it is very difficult to make any predictions for 2021 let alone name the trends for the market structure facilitating securities trading and operations. However, market research firm Greenwich Associates in a new report, “Top Market Structure Trends for 2021,” authored by industry analysts… Read More >>
Key Regulators Issue USD LIBOR Warning
Authorities: Steer Clear of USD LIBOR Key industry regulators are warning financial services firms not to use U.S. dollar (USD) LIBOR as a reference rate after Dec. 31, 2021 to avoid “consumer protection, litigation, and reputation risks.” The Nov. 30 statement, which underscores the need for firms to move away from the London Inter-bank Offered… Read More >>
Commerzbank Fills CEO Post via Deutsche Bank Hire
Manfred Knof to Replace Martin Zielke at Commerzbank Frankfurt-based Commerzbank has named its next CEO as Manfred Knof who comes from Deutsche Bank where he’s been head of a competing private banking business for Germany. Knof, 55, will oversee the bank’s managing directors, starting January 1 of next year. He will succeed Martin Zielke, the… Read More >>
ARRC Webinars Focus on LIBOR Replacement
ARRC Webinars Explain SOFR & More The Alternative Reference Rates Committee (ARRC) has launched a “Summer Series” of webinars that will focus on the replacement for the London Inter-bank Offered Rate (LIBOR), and that will run for the rest of this month and throughout August. Global financial markets have begun a transition away from the… Read More >>
Ready for a LIBOR Transition Exam?
To make sure that things are moving along as they should, the SEC’s Office of Compliance Inspections and Examinations (OCIE) quietly released a Risk Alert, “Examination Initiative: LIBOR Transition Preparedness,” on June 18 that reminds people that the OCIE is happy to inspect your firm’s progress. The global push to move away from the London… Read More >>
Schroders Takes Majority Stake in Impact Investor
Schroders Invests in BlueOrchard Global asset manager Schroders and BlueOrchard Finance Ltd. have announced that they have entered into an agreement “under which Schroders will acquire a majority stake in leading impact investor BlueOrchard,” officials say. Based in Zurich, Switzerland, BlueOrchard, which is engaged in microfinance and impact investing, was founded in 2001, officials say…. Read More >>
SEC Tells Firms to Focus on LIBOR Replacements
The SEC does not want financial services firms to take a wait-and-see attitude toward the transition away from the London Inter-Bank Offered Rate or LIBOR — the regulator wants firms to be more proactive about the move away from the controversial benchmark. The regulator through a staff statement wants market participants to proactively manage their… Read More >>
Murex Focuses New Offering on LIBOR Transition
Murex & LCH Also Working on Clearing Issues Murex, a specialist vendor for trading, risk management and processing solutions has launched a transition offering and a task force to address “the challenges of the 2021 discontinuation and benchmark reforms” that will end the usage of the London Interbank Offered Rate, or LIBOR. Over the years,… Read More >>
Volatility to Rock Timid Markets in 2019: Report
Global financial services markets are entering a “post-credit crisis” era marked by the fact that easy-money policies are ending, interest rates are heading up while markets are swinging down and a new volatility will rock this timid new world in 2019, according to predictions from Greenwich Associates. In its new report, the market research firm… Read More >>
