RegTech IntelligenceThe group discussed recent papers from the Bank of England, BIS and JWG’s Global Derivatives Digital Regulatory Reporting (DRR) programme and the business case for getting involved in these efforts. The group also reviewed JWG’s proposed Regulatory Reporting & Data SIG (RRDS) 2021 plans to explore the feasibility of ‘top down’ aggregated reporting (e.g., Risk,
It has been nearly four years since the implementation of CRR/CRD IV which cover prudential rules for banks, building societies and investment firms with the main aim of reducing the likelihood that these financial institutions will become insolvent. To an extent, this reflects the Basel III rules on capital measurement and capital standards which is
The Federal Reserve Board published a final enhanced supervision rule, known as Regulation YY, on 18 February, 2014. This regulation implements certain provisions of Section 165 and 166 of the Dodd-Frank Wall Street Reform and Consumer Protection Act to establish enhanced prudential standards for large US bank holding companies (BHC) and foreign banking organisations (FBO).
Fitch Ratings, one of the largest three credit rating agencies, released a report on 11 September 2016 on how the Reserve Bank of India’s (RBI) increase in capital requirements under Basel III is likely to put nearly half of Indian banks in danger of breaching capital triggers. They emphasised that government owned banks are the
On 18 August 2016, the Financial Stability Board (FSB) published two final guidance papers for authorities and firms as part of the agenda to end the “too big to fail” risk. Some progress is being made, and the FSB has said that “banks have begun to develop issuance strategies to meet new total loss-absorbing capacity
The Global Financial Markets Association (GFMA), a banking lobby, has warned regulators that new rules must be closely examined to assess their impact on the global financial markets. This comes as a result of the proposed changes to capital requirements that the Basel Committee is currently implementing. These changes to capital requirements could have a
Following the announcement of a landmark deal on international cooperation over tax avoidance last week, Tuesday saw the signing of a transatlantic pact on data transfer. Even when the EU are in the process of stocktaking the cumulative effects of regulation so far, there is clearly no break in the ongoing pace of financial markets
JWG analysis. The European Banking Authority (EBA) have been particularly busy this year, publishing over 30 key documents (5 consultations, 5 guidelines, 7 technical standards, 4 opinions and 11 reports and other notable publications) between June and August. Keeping up this pace, according to the EBA’s September newsletter, we can expect 25 deliverables covering 16
By Helen Pykhova, Director, The OpRisk Company, and Meredith Gibson, Head of Legal Risk, Santander UK. Introduction The reader will agree that we live in the age of regulation. There is an enormous amount of change coming out of the new legislative and regulatory publications and the sheer number, scale and complexity of the initiatives
JWG analysis. Following the introduction of the new ringfencing law, due to come into force 1 January 2019, the biggest UK banks strongly voiced their concerns. Although this new law will be difficult (and expensive!) for all banks involved to implement, firms with more global and diversified business models are facing additional complexities. In particular,