Regulators are increasingly adopting countercyclical regulations designed to control real estate bubbles in particular, but experts are undecided on their effectiveness.
The US Federal Reserve’s concentration limit proposal has caused a ruckus by creating a burden for firms that do not currently report to the Fed.
New consultation on Basic Capital Requirement suggests it is far from a binding constraint, but the industry frets about how it will fit with other proposals.
Continued distrust of banks’ reported book values have put financial reporting under the spotlight. Charles Piggott reports on the issues worrying analysts and regulators alike.
Publication of the final International Financial Reporting Standards (IFRS 9) in July has left firms working to calculate their expected loan losses ahead of rules that come into effect on January 1, 2018.
Lloyds Banking Group has agreed to pay $105m to settle charges brought by the US Commodity Futures Trading Commission (CFTC).
On the same day the US Securities and Exchange Commission (SEC) voted to adopt widespread measures to prevent credit rating conflicts of interest (see above), SEC commissioners also voted unanimously to require greater disclosure of information about the credit quality of underlying loans packaged into asset-backed securities (ABS).
New rules requiring credit rating agencies to demonstrate stronger governance controls, and enhanced transparency and accountability were narrowly approved by a three-to-two majority by the US Securities and Exchange Commission (SEC) on August 27.