Top Headlines

Fed Seen Holding Rates Steady – Reuters The Federal Reserve is expected to keep interest rates unchanged on Wednesday and may struggle to convince skeptical investors it can tighten monetary policy before the end of the year.

Sweden’s Riksbank Expands QE Program as ECB Stimulus Weighs – Bloomberg The Riksbank expanded its bond-purchase plan for a fourth time since February as policy makers in Sweden struggle to keep pace with stimulus measures in the euro zone.

BoE Says Will Map Out Move to Libor Alternative in 2016 – Reuters The Bank of England will spell out next year how markets can migrate to a new “risk-free” interest rate benchmark after banks were fined billions of dollars for trying to rig Libor.

Bank of England’s Silent Officials Make Life `Tricky’ for Public – Bloomberg Governor Mark Carney and the other eight members of the Monetary Policy Committee will gather Wednesday to debate the economic outlook, leading up to their interest-rate announcement on Nov. 5.



Regulatory News

Polish CBank Head: Bank Tax and FX Conversion Threaten Lenders’ Stability – Reuters A simultaneous introduction in Poland of a bank tax and a conversion of Swiss franc-denominated mortgages into zlotys may seriously weaken the stability of the banking sector, central bank governor Marek Belka said on Tuesday.

SEC Takes Tougher Stance on Enforcement in JP Morgan Case – Financial News (subscription)

Federal regulators want to restrict JP Morgan Chase’s ability to raise funds for clients, in an effort to impose a broader range of consequences on financial firms accused of breaking the rules.

Half of Firms Won’t Be Ready for MiFID II Requirements – TabbForum Given the immense scope of MiFID II and the uncertainty around some rules, only 7% of firms report that they are ready to meet MiFID II’s requirements, while nearly 50% said they will not be prepared by the January 2017 implementation deadline.

SEF Leaders Say Global Harmonization of Swaps Regulations Remains a Pipe Dream – Waterstechnology (subscription) Implementation of MiFID II is roughly 15 months away, and with it comes a burning question: Will the US and Europe be able to come to a mutual recognition of regulations for the swaps market?



Company News

State Street Veteran Snyder to Retire – Profit & Loss Mark Snyder is retiring from State Street after more than 30 years with the firm.

Barclays Names Former JPMorgan Banker Jes Staley as CEO – Bloomberg Barclays Plc named former JPMorgan Chase & Co. senior banker Jes Staley as chief executive officer as Britain’s second-largest lender seeks to boost returns battered by rising legal costs.

Lloyds to Put Aside Further GBP500m For PPI – FT.Com (subscription) Bank posts lower underlying profits in the third quarter.

Nomura Profit Takes Hit From Market Tumult – Financial News (subscription) Net profit at Nomura Holdings dropped 32% in the July-to-September period from the previous quarter in part due to a weak performance in trading after September’s global stock rout.



Market Savvy  

Norway Oil Fund Investments Fall Nearly 5% – Wall Street Journal (subscription) Poor equity returns contribute to $32.17 billion drop in fund’s value before impact of weak krone.

Yen Rises on US-China Tensions – Wall Street Journal (subscription) US Navy patrol near islands claimed by China raised tensions.



Press Releases

CLS and TriOptima Team Up For FX Compression Service – Profit & Loss CLS Group (CLS) and TriOptima have launched a new compression service for FX products, completing the first successful compression cycle for FX forwards and swaps transactions.



Industry Events