European Commission HQ

Forum delivers recommendations to European Commission to boost CMU

Yet another attempt is being made to breathe life into the EU’s CMU. This time it is 17 recommendations from a high level forum, most of which have been well received by industry with the baton now passed to the European Commission to act on them 

Richard Crecel

Experiences of previous crises could give clues to the scale of bank losses

With the global economy in the throes of a new crisis and with bad bank loans expected to pile up,  previous crises could still serve as a good guide as to how bad the damage will be even though this crisis is somewhat unique. 

Deutsche Borse

Exchanges push to limit SIs' role as part of MiFID review

In a Federation of European Securities Exchanges webinar, some speakers called for the activity of systematic internalisers to be reined in further, for undermining transparency and price formation. By Justin Pugsley

Andrea München

EU legal order under threat from German court ruling

Germany’s supreme court dealt a body blow to the EU by asserting the supremacy of the member states and by challenging the mandate of the European Central Bank and Court of Justice, potentially unpicking the bloc’s legal order

ECB covid

Covid-19: European bank trading books pose financial stability risks

Though a decade of global financial reforms has made banks safer, the unusual nature of the Covid-19 pandemic nonetheless exposes European banks to greater than appreciated risks due to the opaque nature of their Level 2 and 3 assets

Christian Lee

FSB throws CCP equity on the line in resolution consultation

The FSB has once again waded into the controversial debate over who pays when a clearing house goes under and in a consultation paper is looking at a range of options including the use of equity

Subadra Rajappa

Covid-19 disrupts shift to risk free rates and regulators' deadline

The US Federal Reserve dropping SOFR in favour of Libor for a major funding programme has sparked mixed views as to whether this signals problems for the replacement risk free rates or if it is a minor hiccup. 

Matt Chan

Diverging approaches to IFRS 9 loan provisioning raise APAC fragmentation fears

Although there are common themes among approaches, Asia-Pacific regulators have been pursuing their own measures for how banks should provision for bad loans under IFRS 9, raising fears of further fragmentation. By Victor Smart 

Julia Smithers Excell

Firms lash out at ESMA over “regulatory creep”

If ESMA gets its way, third-country financial firms doing business in the EU will have to provide vast amounts of extra information in what many see as a Brexit-related political move 

Evgeny Likhoded

FCA warns house-bound bankers about misconduct risk

The FCA has warned firms about the risks of financial misconduct, with bankers and brokers working out of the office on sensitive capital-raising deals

Bitcoin

Should digital coins and tokens be regulated as securities?

The growth in digital coins and tokens has posed considerable challenges for regulators trying to protect investors from harm, but perhaps the question of how to regulate cryptocurrencies is based on a false premise. By Todd McDonald, co-founder of R3.

BCBS

Credit risk management under Basel IV and beyond

Under Basel IV, credit risk can no longer be addressed in isolation – but banks can take a holistic view, enabling them to better assess the impact of future scenarios on their activities. By Xavier Dubois, director of risk and finance at Wolters Kluwer Finance, Risk & Reporting.

How will global banking regulation shape up after Covid-19?