Philip Alexander

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Philip Alexander

Philip Alexander

@FinRegPhilip

Tweets on the ebb and flow of financial regulation and risk management from Philip Alexander @Riskdotnet. Views all my own, retweets ≠ endorsements.

Katılım Haziran 2014
430 Takip Edilen1.3K Takipçiler
Philip Alexander
Philip Alexander@FinRegPhilip·
There's a recent article on Bloomberg analysing US regional bank exposure to CRE based on a metric that regulators deployed in 2006. For a more up-to-date take, here's @RiskQuantum comparing exposures to tangible equity: risk.net/risk-quantum/7…
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JohannesBorgen
JohannesBorgen@jeuasommenulle·
The Citizens suit against HSBC about poaching SVB staff is getting ugly: it now includes CEO Quinn & other senior mgt. What I still can't understand is what kind of trade secret they've allegedly stolen? How to blow up a bank balance sheet in 3 month? (Is there a patent ?)
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Philip Alexander retweetledi
Risk.Net
Risk.Net@RiskDotNet·
Did FDIC do the right thing during SVB crisis? hubs.li/Q02c7L190
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Philip Alexander
Philip Alexander@FinRegPhilip·
We got a lot of pushback from the bank in question when we published this article in 2018 (and not because they don't like Jose Mourinho): risk.net/regulation/566…
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Philip Alexander
Philip Alexander@FinRegPhilip·
@SMTuffy Especially strange, seeing as the >1,000 pages of US Basel III implementation unveiled by Fed in July didn't include introducing the 2016 Basel standards for interest rate risk on banking book - exactly what killed SVB.
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Philip Alexander
Philip Alexander@FinRegPhilip·
LME's exchange tore up nickel trades in March 2022 to protect its clearing house. One is regulated by the FCA, the other by the BoE. Outstanding investigation from @Luke_Clancy on the possible gaps in UK regulatory model. risk.net/regulation/795…
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Philip Alexander
Philip Alexander@FinRegPhilip·
Needless to say, the political optics are terrible anyway.
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Philip Alexander
Philip Alexander@FinRegPhilip·
Another unpopular view (but with different people): if you think bankers are paid too much, you need a high pay policy eg setting maximum as a multiple of national average, which includes both basic and bonus. Bonus cap just transferred salary from bonus to basic.
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Philip Alexander
Philip Alexander@FinRegPhilip·
Unpopular view: UK getting rid of the bankers' bonus cap won't mean a pay rise. It will mean more of bankers' pay is at risk of clawback in the event of misconduct or mismanagement (see: Credit Suisse bonus bail-in).
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Philip Alexander
Philip Alexander@FinRegPhilip·
US bank lobbyists now kind of blatant about trying to delay Basel III until after the presidential election next year, presumably hoping a Republic candidate will win and their appointees will then gut the whole thing.
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Philip Alexander
Philip Alexander@FinRegPhilip·
@Christonab1ke And let's not forget how hard they lobbied to be exempt from mark-to-market accounting on these securities... "Who could have predicted they would end up over-valued on our balance sheet?"
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Philip Alexander
Philip Alexander@FinRegPhilip·
@virginieoshea In financial services, the harsh reality is that a high proportion of whistleblowers struggle to get another job in the industry. I would say proper rewards are pretty much essential if you want any whistleblowers at all.
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Philip Alexander
Philip Alexander@FinRegPhilip·
@TylerGellasch Would be interested to meet the three people invested in crypto to "prevent loss or fraud"...
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Philip Alexander
Philip Alexander@FinRegPhilip·
@dsquareddigest @subfincredit @jeuasommenulle It is interesting - at the time, sources suggested to me Finma didn't use resolution because they weren't confident about resolution valuation. But in fact they had already done some fire-drills...
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JohannesBorgen
JohannesBorgen@jeuasommenulle·
WOW FINMA was planning bail-in on Credit Suisse since November 2022.
JohannesBorgen tweet media
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Keşfet

@RiskQuantum @jeuasommenulle @virginieoshea @SMTuffy @Luke_Clancy @cetier1 @Christonab1ke @elonmusk