The industry has done a great deal of work towards shifting financial instruments from referencing Libor towards using alternative rates. But such is the scale of the task, many industry sources doubt that the transition will be complete by the end of 2021
The cloud’s systemic implications worry financial regulators
The big cloud firms are rapidly emerging as key infrastructure providers to banks raising questions over whether they should be supervised similarly to clearing houses, for example
Resolving Brexit could help tackle global regulatory fragmentation
Resolving Brexit could be the big breakthrough, which heals regulatory fragmentation, according to one former MEP. The problem is that the Brexit process will drag on for years and remain deeply fractious.
Australian banking scandal gives regtech a big boost
Australia’s recent spate of banking scandals has given its regtech sector a major boost as banks rush to find solutions that will ensure they treat their customers better in the future
BSB publishes final guidance to support UK conduct rules
The Banking Standards Board has finalised it fourth item of guidance, which deals with regulatory references, where it was decided to stick with three high level principles to help firms with compliance
Quarles hopes stress capital buffer to be ready for 2020
In a speech, US Federal Reserve Board vice chair Randal Quarles said he hoped that come the 2020 stress tests, the stress capital buffer (SCB) framework would be in place with some tweaks following consultations.
ECB stimulus package likely to exacerbate eurozone bank problems
The European Central Bank’s (ECB) -0.10% reduction in its deposit facility to -0.5%, the resumption of quantitative easing and its forward guidance on interest rates are likely to pile more pressure on already struggling euro-area banks, according to credit rating agencies.
Adam Farkas appointment as AFME CEO triggers criticism
Adam Farkas has resigned as executive director at the European Banking Authority (EBA), effective from January 31, 2020, following his appointment as CEO of a leading financial services lobby group in what is a controversial move.
IOSCO proposes trading venues synchronise their clocks to UTC
Trading venues and their participants should synchronise the clocks they use for time stamping reportable events with coordinated universal time (UTC), according to a proposal by the Board of the International Organization of Securities Commissions (IOSCO).
AFME calls on EU to support green securitisations as investor interest grows
There is a growing interest from investors in green securitisations said the Association for Financial Markets in Europe (AFME) in a report, which is calling for more EU support for the sector.
