64 posts categorized "Banking"

Global information exchange | What’s that coming over the hill?

Posted by Financial Services UK on 25/11/2014 at 12:48 PM in Banking, Capital Markets, Investment Management Permalink Comments (0)

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The landscape for global information exchange is changing rapidly. In the next three years the burden of information reporting for funds will expand exponentially driven by new global tax initiatives. As a result, reporting on investor information and financial data will be mandatory for many funds as early as March 2015. This is not just a one off exercise and it represents a new form of annual compliance that is here to stay.

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A “watershed” moment for financial regulation, and “the next phase of reform”

Posted by Financial Services UK on 18/11/2014 at 11:32 AM in Banking, Capital Markets, EMEA Centre for Regulatory Strategy Permalink Comments (0)

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What Mark Carney has termed a “watershed” moment in post-crisis financial regulation passed this weekend with the G20 Leaders’ Summit in Brisbane. In a fairly short Communique, G20 political leaders declared: “We have delivered key aspects of the core commitments we made in response to the financial crisis. […] The task now is to finalise remaining elements of our policy framework and fully implement agreed financial regulatory reforms.”

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International regulators confirm bail-in-able debt requirement – ‘TLAC’

Posted by Financial Services UK on 11/11/2014 at 5:13 PM in Banking, Capital Markets, EMEA Centre for Regulatory Strategy Permalink Comments (0)

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Ahead of this weekend’s G20 Leader’s Summit in Brisbane, the Financial Stability Board (FSB) has published its proposals to require global systemically important banks (G-SIBs) to hold a minimum amount of capital plus bail-in-able debt, known as ‘TLAC’. While this is by no means the end of the journey to eliminate ‘too big to fail’, these proposals represent the last major outstanding piece of post-crisis prudential policy for banks. A quantitative impact study (QIS) will be run in 2015, before finalisation of the proposals. This process will not be a formality – there are questions of substance left to address.

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Eurozone banks wake up to a new supervisor. What’s next?

Posted by Financial Services UK on 4/11/2014 at 1:35 PM in Banking, Capital Markets, EMEA Centre for Regulatory Strategy Permalink Comments (0)

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The Single Supervisory Mechanism (SSM) formally opens for business today.  For months, supervisors and banks have been preparing for the transfer of supervisory responsibilities to the European Central Bank (ECB).  Yet the 4 November milestone is just the start of a much longer, possibly testing journey for all involved.

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UK leverage ratio requirement: a cornucopia of capital complexity?

Posted by Financial Services UK on 4/11/2014 at 10:38 AM in Banking, Capital Markets, EMEA Centre for Regulatory Strategy Permalink Comments (0)

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The Bank of England Financial Policy Committee’s (FPC) recently published review on the role of the leverage ratio in the UK proposes moving ahead of international standards to introduce new requirements for the biggest UK banks and building societies from next year. It recommends those banks eventually meet a ‘static’ requirement of up to around 4% on an ongoing basis (comprising a minimum of 3% and a supplementary buffer capturing systemic risk). There would also be a time-varying component that varies with the credit cycle and could add around 90 basis points more for some banks at the top of the cycle (on the FPC’s current assumptions).

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Results of the ECB’s Comprehensive Assessment

Posted by Financial Services UK on 28/10/2014 at 4:52 PM in Banking, Capital Markets, EMEA Centre for Regulatory Strategy Permalink Comments (0)

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On Sunday the much-anticipated announcement from the European Central Bank (ECB) on the result of its Comprehensive Assessment was released. The exercise, which was an in depth review of the quality of the largest European banks' assets that included a review of asset quality and a stress test, has occupied the attention of banks over the past several months. Its completion is a significant milestone and a watershed moment for the Single Supervisory Mechanism (SSM), which formally opens for business on 4 November.

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Key changes for deposit takers in the Single Customer View journey

Posted by Financial Services UK on 8/10/2014 at 2:01 PM in Banking Permalink Comments (0)

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The PRA's recent release of Depositor Protection Consultation Paper CP20/14 (CP) sets out proposed changes to the PRA’s rules and is designed to promote consumer confidence and financial stability by improving the speed of compensation payouts in the event of a failure. In this article we provide banks and building societies, regardless of size, with a summary of the key changes being proposed in relation to the next stage of the Single Customer View (SCV) journey.

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PRA puts ring-fencing in industry's court

Posted by Financial Services UK on 7/10/2014 at 12:09 PM in Banking, Capital Markets, EMEA Centre for Regulatory Strategy Permalink Comments (0)

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The Prudential Regulation Authority's (PRA’s) first consultation paper on UK bank ring-fencing puts the ball back in industry’s court, holding back from extensive prescription in favour of an approach which gives banks some leeway to tailor solutions to their business models. In most areas there will not be a ‘one size fits all’ approach, and the onus will be on individual banks to demonstrate how their plans comply with legislation and the PRA’s objectives.

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Five threats to retail banks

Posted by Financial Services UK on 22/09/2014 at 5:55 PM in Banking Permalink Comments (0)

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Recently Deloitte published Banking Disrupted: How technology is threatening the traditional European retail banking model. The report highlights the major challenges the industry will face in the coming years and focuses on what the future has in store for Europe’s retail banks. We think that five major threats will play a big part in shaping the industry.

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Resolvability: breaking down the barriers

Posted by Financial Services UK on 8/09/2014 at 4:58 PM in Banking, Capital Markets, EMEA Centre for Regulatory Strategy Permalink Comments (0)

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The EU’s bank Recovery and Resolution Directive (BRRD) gives EU resolution authorities wide-ranging and potentially very invasive powers to mandate changes to banks’ legal, operational and financial structures in order to improve resolvability, powers which allow resolution authorities a significant amount of discretion. In the wake of the recent announcements from the US FDIC and Federal Reserve, in which they expressed their dissatisfaction with the current state of large banks’ resolution planning in the US, it would also appear that the resolvability hurdle may be higher than previously anticipated. Ensuring that banks are resolvable has been high on the policy agenda for several years, but the practical work needed to achieve this looks set to move forward in earnest over the next year.

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