According to the Bank of England’s latest stress tests, the UK’s seven largest lenders could withstand a downturn more severe than the one a decade ago or a disorderly Brexit and still be able to keep credit flowing to the economy
Europe
Fears grow over hard Brexit ahead of parliament vote
Such is the political opposition to the withdrawal agreement signed between the EU and UK that there is an increasing chance that the UK could leave on WTO terms
Refinement needed on ESMA’s proposed approach to stress testing MMFs
Calls for more refinement around ESMA stress testing regime for money market funds
ESMA values EU derivatives market at €660tn with clearing rates rising
ESMA values EU derivatives market at €660tn and notes progress towards more derivatives being cleared
RFR working group encouraged by small take up of rivals to Ibor rates
RFR Working Group encouraged by small, but growing momentum to use reference rates put forward as alternatives to discredited Ibors
PRA wants to delay some liquidity reporting requirements
PRA consults on delaying certain aspects of liquidity reporting so as to mitigate risks to supervising liquidity
Eurex experiences trade opening delay raising questions over resilience
Worries over market infrastructure raised after Eurex experiences delays in opening for trading on Monday, 15 October
PRA prompts financial firms to focus on climate risks
The PRA is stepping up pressure on banks to pay more attention to climate change related financial risks following a consultation that is likely to be a step towards eventual regulation
AMF finds good and bad practices relating to MiFID
France’s AMF finds a mix of good and bad practices in relation to MiFID II compliance following a thematic inspection at the beginning of the year
FDIC chair says international cooperation essential for resolution planning
In a speech, the FDIC chair said the US regulators are committed to redoubling efforts to foster international regulatory cooperation with regards to resolution planning for G-SIBs
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