Analysts remain rattled by the September cash crunch and predict more turbulence in December. The Fed is propping up US repo markets but has stopped short of relaxing bank capital and liquidity rules.
So long, Volcker?
The Volcker Rule appears to have been gutted by recent reforms, but it is not clear whether those changes will have that big an impact as there is doubt over whether regulators were properly policing compliance in the first place
EU tightens equivalence rules game
The UK’s pending departure from the EU has potentially weaponised its equivalence process, which decides if third country-based financial services firms can sell into the union, leaving many financial firms concerned.
Efforts stepped up to save correspondent banking
Entire countries are at risk of being cut out of the global financial system due to de-risking, which is also holding back economic growth, leaving global standard-setters, banks and fintechs struggling to find a solution. By Farah Khalique.
US regulatory proposals pose concerns to foreign banks operating there
US regulators have put out a set of proposals to regulate foreign banks operating within their jurisdiction, which has raised considerable concern among some banks fearing they will lead to higher capital requirements and more stringent regulation
Critics pressure regulators to make MiFID II adjustments
Should the UK leave the EU, it could be a chance for EU-based exchanges to ditch open access rules around clearing and for firms to push for other changes in MiFID II and MiFIR
EU equivalence reforms meandering towards a common ground
Reforms of the EU’s equivalence rules have been considerably complicated by Brexit. However, there is some hope in the industry that technical considerations will eventually triumph over politics
Concern lingers that eurozone may not be ready for another crisis
With a possible recession on the horizon, Europe’s banks are in a stronger position than they were in the run-up to the 2007-9 global financial crisis. Nonetheless, there are still worries about too many weak banks, doubts over stress tests and the failure to complete Europe’s banking union. By Farah Khalique.
Fed’s stress test reforms proving to be controversial
To critics, reforms of the US stress testing regime are a worrying diluting of the exercise, whilst bankers see them as a very necessary exercise in simplification and transparency. However, stress tests maybe less important than they once were. By Farah Khalique.
CSDR: the forgotten reporting regime
Not only do many market participants not realise that they’re in scope for CSDR, but the regulation itself has a number of issues in its drafting that make it difficult to comply with
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