Given the very low interest rate environment, capital buffers may need to become the main monetary policy instrument to counter swings in economic activity, according to the Bank of England.

The internationally highly regarded CEO of Hong Kong’s Securities and Futures Commission (SFC), Ashley Alder, will not renew his contract when it ends in September 2020, according to media reports. 

Between the end of November 2018 and the end of September 2019, further progress has been limited on implementing reforms for the over-the-counter (OTC) derivatives market, the Financial Stability Board (FSB) said. 

The European Commission published a consultation on October 11 asking for views on the implementation of the finalised Basel III rules into EU rules, namely the capital requirements regulation (CRR) and directive (CRD)

The China Securities Regulatory Commission (CSRC) said that limits on foreign ownership of futures, securities and mutual fund companies will go from January 1, 2020.

Though the mission of reforming the global financial system is nearly complete, there is still a lot of work to be done, such as around resilience, stability and sustainability, the Financial Stability Board (FSB) said. 

Global standard setters have set out the key criteria, functions and bodies for the governance arrangements for a set of critical data elements for over-the-counter (OTC) derivative transactions reported to trade repositories excluding the Unique Transaction Identifier (UTI) and the Unique Product Identifier (UPI).

In its 2020 work programme, the European Banking Authority (EBA) will focus on six key areas covering data through to financial stability. 

Changes to the Volcker rule, which is designed to stop banks engaging in certain types of proprietary trading, have been finalised by the five regulatory agencies responsible for its oversight.