EuropeRSS

ECB found six eurozone banks fell short on capital requirements

Six eurozone banks were found to have inadequate levels of capital by the European Central Bank (ECB), which told them to remedy the situation.

Nicholas Pfaff

EU's green taxonomy: long road to transformation begins

The EU’s green finance deal promises to not only reshape the economy, but also finance. However, there is still much work to do and a lot of missing detail before the green deal can drive real change 

Tim Rennie

UK regulators up the ante on Libor transition

UK regulators have doubled down on their determination to wean the financial sector off sterling Libor, a move which might speed up the transition to alternative rates for other currencies as well

EBA says variability in EU bank RWAs mainly due to fundamentals

Most of the variability in risk-weighted assets can be attributed to fundamentals, the European Banking Authority (EBA) said in two reports on the consistency of RWAs across EU institutions authorised to use internal approaches for the calculation of capital requirements. 

Barney Reynolds

UK authorities embark on ambitious data-led transformation

Reflecting changes in the financial services sector, UK regulators are attempting to transform themselves into data centric organisations able to carry out their supervisory duties more efficiently and effectively than ever before 

With Brexit done battle lines now drawn on regulatory alignment

With the UK having left the EU on January 31, the two jurisdictions are now preparing for tense negotiations from March over their future relationship with financial firms looking on nervously from the sidelines

Freedom of information request reveals high level of MiFID II reporting errors

More than 20% of asset managers are still making errors in their reporting to the UK’s Financial Conduct Authority (FCA) with regard to their obligations contained in the markets in financial instruments directive (MiFID) II. 

FINMA’s first ever risk report highlights issues such as Libor and cross-border market access

The Swiss Financial Market Supervisory Authority (FINMA) published its first ever risk monitoring report highlighting six main areas of concern, which include cyber attacks, the Libor transition and cross-border market access issues.

Flooding

Bank of England uses climate change scenarios for stress test

Proposals by the Bank of England for stress testing the effects of climate change on the financial system places the issue front and centre for UK regulators and financial firms 

EBA

EBA study reduces Basel III capital estimate, but concerns around CVA linger

Big European banks will be relieved that the EBA lowered its original estimates around the capital requirements arising from implementing the finalised Basel III framework, but will be concerned about its views on CVA exemptions