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
Subjects
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
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
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.
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 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.
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