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'The urgently needed reform is degenerating into farce.'
European regulators assessing threats to market liquidity if investors pull money from bonds when interest rates rise.
FSB proposal for loss-absorbing buffers may create new problem for big banks: Who will want to buy this debt?
FSB proposes significant loss-absorbing liability buffers; banks may pass on higher funding costs to clients.
Recognition from 2014 Nobel Prize may help Jean Tirole influence policy; he sees regulation as crucial in preventing banks from taking too much risk.
Agency recommends widening windows for setting benchmark rates, from one minute to five minutes, to reduce chance of manipulation.