Bank of England looking to bank capital buffers to supplement monetary policy

Given the very low interest rate environment, capital buffers may need to become the main monetary policy instrument to counter swings in economic activity, according to the Bank of England.

European Commission consults on implementing Basel III into EU rules

The European Commission published a consultation on October 11 asking for views on the implementation of the finalised Basel III rules into EU rules, namely the capital requirements regulation (CRR) and directive (CRD)

EBA 2020 work programme focuses on six areas

In its 2020 work programme, the European Banking Authority (EBA) will focus on six key areas covering data through to financial stability. 

Scott Martin

UK could become global standard setter for operational resilience testing

Work in the UK on operational and cyber resilience has reached such a level that its approach may well become a trendsetter for other jurisdictions to follow. By Dan Barnes.

Richard Watson-Bruhn

Banks need to take into account EBA guidelines when outsourcing

Outsourcing to third party providers can bring many benefits to banks, but this also comes with risks, which makes it all the more important for them to study the EBA’s guidelines on such activities  

Wind and solar

Banks need to curb their enthusiasm over ‘green’ supporting factors

The prospect of green supporting factors for RWAs being introduced in the EU to support the move towards a sustainable economy has created excitement among some bankers, however, they probably should not get their hopes too high

Steven Maijoor

Spot FX market gears up to fend off MAR threat

ESMA has put the cat among the pigeons in the spot FX market by asking in a consultation whether it should come under MAR with the industry now wondering how it can fend off any such attempt

Bank of England to stress-test financial firms for climate change

The Bank of England plans to stress test how the financial system would stand up to various climate pathways, making it the first central bank to do so. 

EBA calls on European Commission for harmonisation to spur cross-border financial services

The European Banking Authority (EBA) has published a report calling on the European Commission to take action to facilitate cross-border financial services within the EU. 

EU grants UK another Brexit extension

The European Council has extended the UK’s membership of the EU until Jan 31, 2020, following a request from prime minister Boris Johnson who was forced to do so by the UK parliament.