RegTech Intelligence

Legislative initiative: Capital Requirements Directive IV (CRD IV)

JWG analysis. In late October, the European Banking Authority (EBA) released a consultation on the use of the Legal Entity Identifier (LEI) for CRD IV’s risk reporting requirements.  Now that the consultation phase has been concluded, firms may only have around 60 days to register LEIs for all their entities that report under CRD IV.


Counterparty classification regimes, such as CRD IV and EMIR, give banks a good reason to centralise their reference data, and the BCBS’ Risk Data Aggregation Principles provide a clear framework for doing so. From 1 January 2014, under CRD IV, firms will need to calculate CVA and hold additional capital on all derivatives contracts.  However,


The European Banking Authority (EBA) has finally published its final draft Implementing Technical Standards (ITS) (here) on supervisory reporting for CRD IV. Long awaited, the technical standards set out the near-final reporting requirements, as part of COREP, for own funds, financial information, losses stemming from lending collateralised by immovable property, large exposures, leverage ratio and


Out of the shadows, into the rulebooks?

Shadow banking could soon force infrastructure upgrades and additional business costs– will the industry find ways to ease the pain? As repos, securities and, potentially, CCPs become part of the transparency agenda via new shadow banking regulation, this could result in infrastructure upgrades and increased business costs looking set to be on their way in


2013: A very new year

Five years after the crisis started, real change is finally in store. Who is on the naughty and nice lists? In 2012, the industry saw a flurry of financial sector reforms. With over 140,000 pages of regulation produced over the past twenty four months, an ambitious but often discordant global regulatory framework has developed, leaving


Can a controversial tax reporting initiative actually be good for your bottom line? We explore how. The US Foreign Account Tax Compliance Act (FATCA) has been heavily criticised, and accused of being a “kind of US backward imperialism” with “an atomic bomb used to kill a fly”. At its heart, FATCA exists to track down


RRPs: Operational deluge coming soon for FMIs

With the world’s most systemic banks having made it through the first round of invasive living wills in 2012, regulators now have their sights on the Financial Market Infrastructure (FMI). Central Counterparties (CCPs), payments systems and exchanges will have a lot to do in 2013 and could do well to heed some lessons from their


A common roadmap for Europe?

Finally, after months of anticipation, European Commission President José-Manuel Barroso outlined his “decisive deal”: a big picture vision of an ideal, sound roadmap for Europe’s financial future. The EC proposes to create a single supervisory mechanism for banks in the euro area – starting on 1 January 2013. Under the proposals the European Central Bank


Europe’s first Capital Requirements Regulation report is imminent – even through the European Parliament has yet to pass the act. Now regulators need policy alignment to save the industry €24.2 billion. In July, JWG’s new research highlighted that regulatory standards were critical to saving €24.2 billion. After conducting an extensive survey of 80+ people in


OTC: Will your firm make the grade?

The G20 says OTC regulation was to be finalised by end 2012. But, with at least 34,000 more pages of regulation expected by 2016 from the US alone, firms need to upgrade their BAU. Following the G20’s meeting in April 2009, the pathforward for regulation on OTC derivatives seemed clear. In the shadow of the