EuropeRSS
Miroslav Petkov

ECB’s climate change guidance marks important milestone for bank risk frameworks

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. 

Russian banking

Russian bank reforms face Covid-19 setback

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

EU gets CCP resolution and recovery rules over the line

The EU framework governing the resolution and recovery of failed central counterparty clearing houses (CCP) has been agreed and provides member states with a harmonised risk management system.

UK government to tackle tough legacy Libor contracts

In its written statement to the UK parliament, Rishi Sunak, the chancellor (finance minister), said the government will use upcoming amendments to the financial services bill to give the Financial Conduct Authority (FCA) the power to manage the orderly transition from the London interbank offered rate (Libor) to alternative rates.

Damian Carolan

Spot FX once again faces prospect of EU regulation

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.

Kay Swinburne

Can the EU finally make CMU a reality?

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? 

UK looking to Swiss deal to reinforce outcomes-based approach for global financial services

On June 30, the UK and Switzerland committed to an ambitious bilateral deal on financial services, which the former hopes will help reinforce an outcomes-based approach towards bilateral financial services agreements. 

German EU presidency to focus on economic recovery and a stable financial architecture

On July 1, Germany took over the EU’s six-month rotating presidency with the ambitious aim of spurring the recovery of the bloc’s economy from the Covid-19 pandemic, settling the EU’s budget, driving a sustainable and stable financial architecture and a digital and sustainable economy.

David Strachan

ECB dials up pressure on banks to manage climate and environmental risks

The Covid-19 pandemic has done little to dull the appetite of EU regulators to drive climate change policies, as proven by the ECB’s guide on the matter. Given the scope of work needed to meet the ECB’s expectations, banks are advised to starting acting now.

Rishi Sunak

UK plans regulatory tweaks as Brexit talks struggle

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.