Banks in Europe are going to have to fundamentally rethink their risk frameworks following the publication of guidance by the ECB telling banks to place climate change considerations front and centre of their businesses. 

The economically devastating impact of the Covid-19 pandemic seems to have acted as a catalyst for US regulators to loosen prudential rules further and faster ahead of the presidential election in November.

Will Brexit and the Covid-19 pandemic prove to be a catalyst to revive efforts to establish a capital markets union in the EU, or will it be the final nail in the coffin for this beleaguered project? 

The UK authorities are firmly looking beyond EU membership and are starting to craft a new regulatory framework, which remains in harmony with global standards, but also takes national interests into account. 

Regulating the spot FX market is back on the table in the EU, raising concerns in the industry that the European Commission might be seriously considering going ahead with this proposal.

The FSB’s cybersecurity guidance leans considerably on the work of US regulators, meaning that it differs from the EU approach, which makes it harder for a genuine global standard to evolve.

The Covid-19 pandemic has slowed the completion of Russia’s bank reforms as regulators focus on emergency measures to support the economy. 

Yet another attempt is being made to breathe life into the EU’s CMU. This time it is 17 recommendations from a high level forum, most of which have been well received by industry with the baton now passed to the European Commission to act on them 

With the global economy in the throes of a new crisis and with bad bank loans expected to pile up,  previous crises could still serve as a good guide as to how bad the damage will be even though this crisis is somewhat unique.