Day: July 10, 2019

GFXC Updates on Working Group Progress

The Global Foreign Exchange Committee (GFXC) has released materials from its last meeting in Tokyo, including progress reports from its various working groups, a new illustrative example on “cover and deal” trading activity and a presentation on flash crash events in foreign exchange markets. The new cover and deal example, to be included in the […]

Global FXC Names New Vice Chair; Details Review

The Global Foreign Exchange Committee (GFXC) has released further detail from its 22-23 May meeting in Tokyo, during which the committee discussed its mandate to consider the case for a comprehensive review of the FX Global Code at least every three years. “The FX Global Code has been in place for a few years now […]

Survey Highlights Treasurers’ Concerns Over Visibility of FX Exposures

A new survey from Citi shows that gaining visibility of their FX exposures remains a core concern for corporate treasurers. In the survey, which includes responses from 400 corporates of varying sizes, industries and geographies, improving cash forecasting was cited most frequently as the top priority amongst these firms. “Firms are recognising that they still […]

CFTC Clarifies Uncleared Swap Margin Rules

The Commodity Futures Trading Commission (CFTC) has issued an advisory noting that under its uncleared swap margin rules, the documentation of initial margin will not be required until the initial margin threshold amount exceeds $50 million. The CFTC says that this advisory was issued in furtherance of the March 2019 statement by the Basel Committee […]

Community Banks Exempted from Volcker Rule

Community banks are set to be exempted from the Volcker Rule. Five US federal financial regulatory agencies have adopted a final rule to exclude community banks from the regulation, a move that they claim is consistent with the Economic Growth, Regulatory Relief, and Consumer Protection Act. The Volcker Rule generally restricts banking entities from engaging […]