The ECB identified "material shortcomings" in how banks manage counterparty credit risks. Banks should "promptly address weaknesses".
January 19, 2023Bank exposures to NBFIs, particularly highly leveraged firms, could lead to excessive risk concentration and potential liquidity issues.
November 30, 2022Archegos employees were "coerced" to invest their bonus money into the firm through a deferred compensation plan, which evaporated when the company collapsed last March.
July 6, 2022Reviews underway cover concentration risk in OTC derivatives markets, risk management at futures brokers, and block trading practices.
June 30, 2022Credit Suisse was added to the FCA's watchlist due to concerns that it was not doing enough to improve its culture, governance and risk controls.
June 15, 2022ESMA found that reported trade activity data could be used to track the evolution of Archegos’ positions in individual stocks and analyse the mark-to-market value of its portfolio of swaps.
May 20, 2022Banks are asked to strengthen loss absorption capacity, FX liquidity management, credit risk monitoring and bad debt provisioning.
May 12, 2022The DOJ, CFTC and SEC charged Archegos and four of its executives for defrauding banks and brokers and manipulating the prices of publicly traded securities.
April 28, 2022Firms with securities businesses are expected to draw lessons from the shortcomings observed in the Archegos incident in order to foster a sound risk culture.
April 24, 2022The rules will improve transparency over total return swaps, the instruments partly responsible for last year's blowup at Archegos Capital Management.
April 16, 2022