Despite Brexit uncertainty and the demands of ongoing compliance with regulations such as MiFID II, financial institutions are ramping up their planning for life after Libor. But are they moving fast enough? By Michael Robertson, director at JDX.
Global
FSB finalises recommendations for regulators to clamp down on misconduct risk
FSB publishes final recommendations to help supervisors drive better conduct within financial institutions
G20 reforms have not negatively impacted infrastructure finance, says FSB
G20 reforms are not the primary reason for constraining infrastructure finance from banks, said the FSB, instead attributing it to other factors such as the macro-financial environment
Final report suggests OTC derivatives reforms working
Three global standard setting bodies issued their final report on OTC derivatives reforms suggesting they have mostly met the G20 goals, but also concede some tweaks might be beneficial
Correspondent banking relationships with developing countries still declining, says FSB
The number of correspondent banking relationships involving some developing countries is continuing to decline says the FSB although its action plan to address the situation is now largely in place
FSB completes cyber lexicon
FSB completes cyber lexicon for regulators and financial institutions outlining around 50 core terms relating to cyber security and cyber resilience
FSB: number of G-SIBs declines by one
The number of G-SIBs has fallen by one in the FSB’s latest classification with two leaving the list and one joining
Basel III implementation progressing, but some measures facing delays
Basel Committee reports that Basel III implementation is progressing with banks being better capitalised, but is concerned that some measures are facing implementation delays in some jurisdictions
FSB says most jurisdictions hosting G-SIBs have resolution regimes
The FSB said that most jurisdictions hosting too-big-to fail banks largely have resolution regimes in place for them, but is concerned that more work needs to be done on the resolvability of clearing houses and insurers
Changing of the guard at FSB raises fears over global post-crisis reforms
The appointment of the Federal Reserve’s Randal Quarles as FSB chair has created fears that this could either see the body undermined or lead to a loosening of global regulatory frameworks. In practice doing either would be difficult
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