Go to top
€20 billion: The annual cost of OTC derivatives regulation
Archive
29 Aug
2013

€20 billion: The annual cost of OTC derivatives regulation

In its Macroeconomic impact assessment of OTC derivatives regulatory reforms, published on 26 August, the BIS have estimated the additional annual global cost of reforms as between €15 billion and €32 billion.  This huge cost, and the difference between the lower and upper brackets, makes clear the case for getting OTC reform implementation ‘right’ (see Read More

23 Aug
2013

Doing EMIR right: Cheaper, better, faster… or else

  • 23rd August 2013
  • RegTechFS

The majority of regulations require firms to classify their clients into a discrete set of categories; JWG research has identified at least twelve, including FATCA, AMLD IV, EMIR, CRD IV and MiFID II.  When implementing them, firms are faced with two clear options:  An easy option, twelve separate programmes, each costing ten pounds to implement; Read More

02 Aug
2013

No excuses: The CRD IV case for centralising data in 2014 is strong

  • 2nd August 2013
  • RegTechFS

Counterparty classification regimes, such as CRD IV and EMIR, give banks a good reason to centralise their reference data, and the BCBS’ Risk Data Aggregation Principles provide a clear framework for doing so. From 1 January 2014, under CRD IV, firms will need to calculate CVA and hold additional capital on all derivatives contracts.  However, Read More

18 Jul
2013

Let he who has good data cast the first stone

Given the exponential growth of reporting requirements since the crisis, firms often ask: ‘Where does all this data go and who has the time to look through it all?’  In fact, recent statements by regulators have made this question all the more valid given that regulators’ data systems, it is increasingly apparent, often suffer from Read More

09 Jul
2013

Risk data: Can it be both efficient and compliant?

Risk regulation is a cluster bomb – multiple devices with multiple impacts – but applying uniform risk data principles can save costs in 2013-16 With six months before the 4th Capital Requirements Directive comes into force, many will be asking what technological improvements will be necessary to efficiently manage risk going forward. Before they embark Read More