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ESMA

Securities regulators lift short selling ban, but could reimpose it

Six EU securities regulators coordinate the lifting of their short selling bans, but have left open the possibility of reimposing them should extreme volatility reignite again

FFIEC reminds banks over best practices for cloud computing

Security breaches involving cloud computing highlight the importance of sound security controls and  an understanding of shared responsibilities between cloud service providers and banks, the Federal Financial Institutions Examination Council (FFIEC) said in a statement. 

DSB’s 2020 consultation focuses on functionality, data and governance

The Derivatives Service Bureau (DSB) released further information about this year’s consultation with questions around functionality, data enhancement and a proposal related to its dispute resolution process.

Most Basel members not yet factoring climate change into prudential capital frameworks

In a survey, the Basel Committee on Banking Supervision found that most of its members prefer to address climate-related financial risks within their existing regulatory and supervisory frameworks, but there is still much work to be done.

UK regulators welcome retention of two-year TTP powers

The Bank of England and the Prudential Regulation Authority welcomed the move by the UK Treasury over its intention to retain the regulators’ temporary transitional power (TTP) for two years after the UK’s transition period with the EU ends.

FSB consults on CCP resources for resolution

The Financial Stability Board (FSB) is consulting on guidance around the adequacy of financial resources of central counterparty clearing houses (CCP) in the event of them failing and going into resolution.

Frankfurst financial district

Industry wins one-year reprieve on initial margin rules

Around 1000 smaller financial firms have been granted another year by global standard-setters to comply with margin requirements for non-centrally cleared derivatives due to the Covid-19 fallout.

Xavier Larrieu

Supervisors urge IFRS-9 forward provisioning flexibility to save capital

The Covid-19 pandemic is not only taking monetary and fiscal policy into new territory, but is also having an impact on how banks provision for bad loans under IFRS-9 accounting standards  

Rupert Brown

Post-Covid-19 new normal could see banks having to rethink resilience measures

The Covid-19 fallout differs considerably from the 2007-9 global financial crisis and is likely to force banks to once again rethink how they measure risk and the tools needed to do that job

ESMA and MAS sign MoU to allow use of Singapore benchmarks in EU

The process allowing Singaporean interest rate benchmarks to be used in the EU has been completed following the signing of a memorandum of understanding (MoU) between the authorities of the two jurisdictions.