Subadra Rajappa

Despite progress SOFR deadlines remain a stretch

Though there have been some problems, the US is moving swiftly to transition away from Libor towards SOFR, but there are ongoing concerns over legacy contracts and cash products

Jose Manuel Campa

EBA’s stress test overhaul given the cold shoulder

Proposals put forward by the EBA to modernise its stress testing framework have met with disapproval by banks arguing that they would deliver few benefits 

Rishi Sunak

EU and UK prepare for tough talks on post-Brexit financial services

A great deal of uncertainty lingers as the EU and UK prepare to negotiate how they will oversee cross-border financial services business after Brexit 

House of Lords

Slavishly following EU rules ‘would threaten UK financial stability’

Simply passing EU rules into UK law could threaten financial stability and undermine the competitiveness of the City of London, the UK parliament’s upper house was told by senior regulators. 

Department of Treasury

Attempts to remove US regulatory hurdles for fintechs may fall short

The clunkiness of the US’s regulatory system is making it hard for new entrepreneurial fintechs to get off the ground, and though there are attempts to address this, there is probably only so much that can be done

Euro notes

Incomplete eurozone poses systemic threat

Think-tank warns that the US and UK should be wary of risks emanating from the still incomplete eurozone believing it poses a significant systemic risk

Nigel Brahams

MiFID/MiFIR face significant revisions as European Commission launches consultation

The EU’s markets and investors protection regime faces a significant overhaul, with the European Commission asking wide-ranging questions about its future. 

New ECB HQ

Trust is a key determinant of interbank activity, says ECB paper

The level of trust is a key driver of activity in the interbank market along with the stability of the country’s banking sector, its counterparties and its history of managing banking crises and failures, according to a working paper by the ECB.

China coronavirus

Coronavirus resurrects China’s bank NPL concerns

To help offset the economic damage from the coronavirus outbreak, Chinese regulators said they will tolerate a rise in bad debt in the banking system, which is seen as suspiciously low by some. 

Daniel Carpenter

Can CSDR become a revenue driver?

CSDR is an onerous regulation with the potential for tier one banks to quickly rack up fines. But it is also an opportunity to centralise settlement processes and even to drive new revenue sources

Fintech threat

Patchwork of regtech solutions calls for a strategic approach

Since banks have been highlighted as being ripe for digitisation, regtech vendors have focused on point solutions arising from the latest regulatory requirements, creating an archipelago of products that are difficult to understand and manage.