Proposals by the Bank of England for stress testing the effects of climate change on the financial system places the issue front and centre for UK regulators and financial firms
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EBA study reduces Basel III capital estimate, but concerns around CVA linger
Big European banks will be relieved that the EBA lowered its original estimates around the capital requirements arising from implementing the finalised Basel III framework, but will be concerned about its views on CVA exemptions
US banks pulling ahead of European counterparts as regulation bites
Outdated business models, inefficient organisational structures and tougher regulation are seeing European banks falling further and further behind their US rivals
Mnuchin dismisses CLO concerns, but worries about mortgage origination
During a Congressional hearing, US Treasury secretary Steven Mnuchin expressed concern for financial stability over the rapid growth of non-bank mortgage originators, but was much more relaxed about the rise in CLOs
Cleaning up Hong Kong’s IPO market faces several more years of reforms
Hong Kong’s huge success in attracting IPOs masks the fact that its stock market is still plagued with conduct issues and it is likely that there are several more years of regulatory reforms to come
Growing concern that US regulatory reforms could harbour risks
Although the US never deregulated to the extent President Donald Trump promised, some of the changes that have been made have raised concerns about risk in some quarters
PRA Citi fine may be start of clampdown on big bank reporting failings
The big fine slapped on Citigroup for reporting failings by the UK’s PRA might be the start of a crackdown on other big banks struggling with their regulatory reporting
China seeks compliance with EU rules as it internationalises its benchmarks
As part of making their benchmarks internationally usable by regulated financial firms, Chinese providers are increasingly looking to comply with the EU benchmarks regulation as a stamp of approval
Nuclear compromise sees EU green taxonomy signed-off
The EU’s Parliament and Council compromised on the wording of a taxonomy or rule book governing the definitions of green finance after altering the language so as not to discriminate against nuclear or gas as a transition energy source.
Big UK banks pass stress test, but told to raise countercyclical buffer
The latest stress tests from the Bank of England showed that the UK’s seven largest lenders could comfortably manage a deep domestic recession, a global downturn and a disorderly exit from the EU.
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