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Failure to fulfill the legal obligations or conditions of a loan, such as not making the required interest or principal payments.
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Euronext Clearing expands to financial derivatives markets

The milestone marks the conclusion of the migration from LCH SA to Euronext Clearing and the end of the contractual relationship with LCH SA
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Euroclear Bank and Eurex Clearing further partnership

The announcement builds on the existing partnership between the organisations, with the central counterparty already using Euroclear Bank as an eligible securities settlement location
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UK regulator issues guidance for Basel 3.1 implementation

This “near-final” policy statement responds to feedback advanced by the market on the CP 16/22 consultation paper on Basel 3.1 standards that was circulated in November 2022
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Crypto derivatives trading structure to ‘evolve rapidly’, says Acuiti study

The Acuiti report explores attitudes towards elements of the market structure forged by native offshore crypto derivatives exchanges
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ICE appoints Chris Edmonds to lead fixed income and data services business

Based in Chicago during his first 13 years at ICE, Edmonds will relocate to Atlanta, joining a growing presence of ICE’s fixed income and data services teams
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LCH SA names Corentine Poilvet-Clédière as CEO

Poilvet-Clédière will replace Christophe Hémon as chief executive of the Paris-based clearing house from 1 October, subject to necessary approvals, with Hémon stepping down after 19 years at the helm at SA
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Federal Reserve Board hands out $268.5 million fine for Credit Suisse’s misconduct

The Federal Reserve Board has announced a consent order and US$268.5 million fine with UBS Group AG for misconduct by Credit Suisse, which UBS subsequently acquired in June 2023
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UK government proposes changes to short selling rules

This announcement extends HMT proposals advanced under the December 2022 “Edinburgh Reforms” that are designed to exploit the UK’s exit from the European Union to develop its own UK-tailored financial services legislation