EuropeRSS

UK starts trade talks with US with bankers concerned over EU market access

The UK is sticking to the Brexit deadline as it starts trade talks with the US while negotiations stall with the EU leaving bankers concerned over a deal on financial services. 

Damien Burke

Covid–19: exit strategies and their practical implications

The forbearance measures being rolled out by the government around debt repayments will mean that in the future banks will have to give greater thought to the treatment of data and its impact on their models.

Amélie Champsaur

BRRD could be sidelined in the event of widespread bank failures

With Europe sliding into a deep economic slumber following the Covid-19 pandemic, questions are being asked about the state of some the continent’s banks and whether BRRD is up to resolving them if it comes to that

UK upper house calls for structured dialogue with EU over financial services

The UK’s upper house of parliament, the House of Lords, has called on UK finance minister Rishi Sunak to establish a structured dialogue with the EU to support cross-border financial services and to manage any future regulatory divergence.

EBA publishes final FRTB RTSs to smooth implementation

The final draft on regulatory technical standards (RTS) has been published on the new internal model approach (IMA) under the Fundamental Review of the Trading Book (FRTB), by the European Banking Authority (EBA) to smooth its implementation. 

Spreadsheet

Managing climate risk demands fresh thinking on stress tests

Risks related to climate change are increasingly being taken seriously by regulators and banks, but the modeling around these risks is complex and is still under development

Paul Sharma

More banks likely to face regulatory sanctions as UK toughens stance on reporting

UK supervisors have lost patience with poor quality reporting by firms under their watch meaning many of them potentially face regulatory sanctions if they do not get their act together quickly. By Peter McGill  

ESMA consults on technical standards for trade repository reporting

The European Securities and Markets Authority (ESMA) has launched a consultation on implementing draft technical standards covering reporting to trade repositories (TRs), procedures to reconcile and validate the data, data access by the relevant authorities and the registration of the TRs.  

ESMA delays tick-size regime for SIs

National competent authorities should not prioritise enforcing tick-size rules related to trading by systematic internalisers (SIs), the European Securities and Markets Authority (ESMA) said in a statement.

FCA expects most bank staff to work from home during Covid-19 crisis

Designated senior managers at financial firms are responsible for identifying which employees have to travel to work, but the overall number of employees onsite should be far smaller than the number normally required for business as usual, said the UK’s Financial Conduct Authority (FCA).