Sharon Thiruchelvam

London

Regulation Staff Writer at Risk.net

Regulation Staff Writer | https://t.co/3AHYiw6XA1 |

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Articles

Endgame manoeuvre: US banks put SLR reform back in spotlight

Sep 17, 2024 | centralbanking.com | Sharon Thiruchelvam |Christopher Jeffery |Daniel Hinge |Daniel Blackburn

It’s always been a blunt instrument. The US supplementary leverage ratio (SLR) was designed to act as a capital backstop for banks. But the Covid pandemic exposed a potentially fatal flaw – that it became instead a binding constraint in times of stress. Regulators promised to review it, but the idea seemed to drift into the long grass. Now banks are making noise about the ratio in the hope of putting a review back on the agenda. In March 2020, as the Federal Reserve expanded its balance sheet to
Endgame manoeuvre: US banks put SLR reform back in spotlight

Sep 16, 2024 | risk.net | Sharon Thiruchelvam

Tweet Facebook LinkedIn Save this article Send to Print this page It’s always been a blunt instrument. The US supplementary leverage ratio (SLR) was designed to act as a capital backstop for banks. But the Covid pandemic exposed a potentially fatal flaw – that it became instead a binding constraint in times of stress. Regulators promised to review it, but the idea seemed to drift into the long grass.
US banks seek to open vendors’ black box on green data

Jun 26, 2024 | waterstechnology.com | Sharon Thiruchelvam

The US Federal Reserve and the country’s largest banks have had their differences, especially in recent months. But the regulator’s first ever climate scenario analysis has revealed a common cause: frustration over the climate risk models provided by third party vendors. The analysis was launched in January 2023, with the findings published in May this year.
US banks seek to open vendors’ black box on green data

Jun 24, 2024 | risk.net | Sharon Thiruchelvam

Tweet Facebook LinkedIn Save this article Send to Print this page The US Federal Reserve and the country’s largest banks have had their differences, especially in recent months. But the regulator’s first ever climate scenario analysis has revealed a common cause: frustration over the climate risk models provided by third party vendors. The analysis was launched in January 2023, with the findings published in May this year.
Basel war on window-dressing may smooth liquidity, at a price

May 13, 2024 | risk.net | Sharon Thiruchelvam

The debate around banks shrinking some of their higher-velocity assets at year-end to reduce their regulatory capital requirements has been going on so long, some national regulators have already decided to act on it. Now the Basel Committee on Banking Supervision is catching up.
Industry pushes to extend review for Emir active accounts rule

Apr 4, 2024 | risk.net | Sharon Thiruchelvam

Tweet Facebook LinkedIn Save this article Send to Print this page Market participants are warning the 18-month period between new clearing rules entering into force in the European Union and a review to determine whether they are working is too short. If regulators conclude the new rules are not prompting EU-regulated firms to move sufficient volumes of derivatives clearing onshore, this could trigger a further round of tougher measures.
Emir 3.0 threatens lag for Simm revisions

Mar 4, 2024 | fx-markets.com | Sharon Thiruchelvam

Tweet Facebook LinkedIn Save this article Send to Print this page Users of the International Swaps and Derivatives Association’s standard initial margin model (Simm) for non-cleared derivatives may be left with outdated and less risk-sensitive calculations, as new European Union rules intended to streamline margin model updates could delay the approval process by up to three months.
Emir 3.0 threatens lag for Simm revisions

Mar 3, 2024 | risk.net | Sharon Thiruchelvam

Tweet Facebook LinkedIn Save this article Send to Print this page Users of the International Swaps and Derivatives Association’s standard initial margin model (Simm) for non-cleared derivatives may be left with outdated and less risk-sensitive calculations, as new European Union rules intended to streamline margin model updates could delay the approval process by up to three months.
Confusion reigns ahead of crucial Emir 3.0 vote

Feb 13, 2024 | risk.net | Sharon Thiruchelvam |Rebekah Tunstead

Market participants are seeking clarification on the scope of new regulations that will require them to maintain an active account at a clearing house within the European Union ahead of a crucial vote on Wednesday (February 14). The EU is set to unveil revisions to the European Market Infrastructure Regulation, dubbed Emir 3.0, following so-called trilogue discussions between the European Commission, Council and Parliament, which concluded today.
Pension funds still fear diluted Emir active accounts rule

Feb 9, 2024 | risk.net | Sharon Thiruchelvam

A political deal on new clearing rules for the European Union is significantly softer than the original draft, but Risk.net understands several national delegations are still fighting for further concessions to ease the burden for the private pensions sector. “The impact on medium-sized pension funds which don’t trade that frequently is that they may end up with a very high percentage of trades that they have to clear within the EU,” says Matthies Verstegen, head of the Brussels office of