The Basel Committee on Banking Supervision and the International Organization of Securities Commissions (IOSCO) have today published a second consultative paper which represents a near-final proposal on margin requirements for non-centrally-cleared derivatives. The paper is available on the websites of the  Bank for International Settlements and  IOSCO. . .

http://www.bis.org/press/p130215a.htm

The guidance published today updates the Basel Committee’s Supervisory guidance for managing settlement risk in foreign exchange transactions. Since the publication of that guidance in 2000, the foreign exchange market has made significant strides in reducing the risks associated with the settlement of FX transactions. Substantial FX settlement-related risks remain, however, not least because of the rapid growth in FX trading. . .

http://www.bis.org/press/p130215.htm

The finance director of Barclays is to step down from the company.

Chris Lucas has decided to retire but will remain in his role until a successor takes over, the firm said. . .

http://www.bbc.co.uk/news/business-21314810

The Basel Committee on Banking Supervision has today published its report on the regulatory consistency of risk-weighted assets for market risk. This analysis of risk-weighted assets in the trading book is part of the wider Regulatory Consistency Assessment Programme (RCAP) initiated by the Committee in 2012; a similar analysis is currently under way for the banking book. The programme aims to ensure consistent implementation of the Basel framework, which will help strengthen the resilience of the global banking system, maintain market confidence in regulatory ratios and provide a level playing field for banks operating internationally. . .

http://www.bis.org/publ/bcbs240.htm

The full publication is available at the link below.

http://www.bis.org/press/p130131.htm

Some staff accused of ‘try(ing) to get away with anything’ they could, including selling ‘utter complete garbage’.

http://hereisthecity.com/2013/02/04/c-suisse-accused-of-putting-garbage-mortgages-in-bonds/

Regulators in charge of monitoring the bankrupt futures brokerage Peregrine Financial Group missed warning signs as far back as 1994, according to an independent report released on the same day Peregrine’s founder was sentenced to 50 years in prison.

http://hereisthecity.com/2013/02/04/regulators-missed-peregrine-warning-signs-as-early-as-1994-repor/

UBS posted a fourth-quarter loss after booking a fine for trying to rig global interest rates and costs tied to job cuts.

http://hereisthecity.com/2013/02/05/ubs-posts-loss-on-libor-fine-reorganization-costs/

UBS will award bonuses to 6,500 senior bankers in the form of bonds that can be wiped out if the company doesn’t meet capital standards, according to the Financial Times. . .

http://hereisthecity.com/2013/02/05/ubs-bankers-said-to-receive-bonuses-in-bonds-that-can-be-wiped-o/

UBS provided $2.74bn in bonuses in 2012 – the lowest level since the beginning of the financial crisis. . .

http://hereisthecity.com/2013/02/05/ubs-compensation-at-lowest-level-since-beginning-of-financial-cr/