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Thomas Wieser

Eurobonds could fire-up CMU

EU plans to launch a bond to help fund the block’s economic recovery from the Covid-19 pandemic could also prove to be a precursor to CMU provided a number of other important obstacles are tackled

London Stock Exchange

Industry opinion split over FSB's CCP resolution proposals

The latest responses from a Financial Stability Board consultation reveal deep divisions within the financial sector over who should pay when a clearing house fails with big losses. By Justin Pugsley 

Andrew Bailey

Despite mounting loss provisioning UK banks can take more pain says Bank of England

The Bank of England estimates that the UK banking system is well capitalised enough to get through a severe recession, while it tries to reassure lenders to keep supporting the economy. By Justin Pugsley 

Miroslav Petkov

ECB’s climate change guidance marks important milestone for bank risk frameworks

Banks in Europe are going to have to fundamentally rethink their risk frameworks following the publication of guidance by the ECB telling banks to place climate change considerations front and centre of their businesses. 

Martin Boer

FSB cybersecurity guidance dashes hopes for single global approach

The FSB’s cybersecurity guidance leans considerably on the work of US regulators, meaning that it differs from the EU approach, which makes it harder for a genuine global standard to evolve.

Russian banking

Russian bank reforms face Covid-19 setback

The Covid-19 pandemic has slowed the completion of Russia’s bank reforms as regulators focus on emergency measures to support the economy. 

EU gets CCP resolution and recovery rules over the line

The EU framework governing the resolution and recovery of failed central counterparty clearing houses (CCP) has been agreed and provides member states with a harmonised risk management system.

UK government to tackle tough legacy Libor contracts

In its written statement to the UK parliament, Rishi Sunak, the chancellor (finance minister), said the government will use upcoming amendments to the financial services bill to give the Financial Conduct Authority (FCA) the power to manage the orderly transition from the London interbank offered rate (Libor) to alternative rates.

BIS appoints Tara Rice to head CPMI secretariat

Tara Rice has been appointed as head of the secretariat for the Committee on Payments and Market Infrastructures (CPMI) by the Bank for International Settlements (BIS). 

Basel Committee members endorse temporary relaxation of capital buffers

Members of the Basel Committee on Banking Supervision have reaffirmed their commitment to implementing the Basel III standards while recognising that banks will need sufficient time to restore their capital buffers depending on the severity of the economic downturn.