HVCRE: The Continuing Saga of Lenders
The Bank of England has published a Policy Statement on the Implementation of the Basel 3.1 standards in the U.K., taking account of responses to its Consultation Paper 16/22 published in November 2022. The Basel 3.1 changes...more
The EU has surged ahead of the UK and the US in implementing the Basel III standards. The EU Banking Package has been reviewed by the Council of the EU and is now expected to be negotiated with the European Parliament, ahead...more
UK CRR: Draft Capital Requirements Regulation (Amendment) Regulations 2021 A draft version of the Capital Requirements Regulation (Amendment) Regulations 2021 has been published, together with a draft explanatory memorandum....more
CRR: Commission Implementing Regulation containing ITS on reporting requirements for market risk Commission Implementing Regulation (EU) 2021/453 containing implementing technical standards (ITS) on specific reporting...more
COVID-19: PRA letter to credit unions and direction modifying minimum provisioning requirements - On 8 April 2020, the Prudential Regulation Authority (PRA) published a letter to directors, staff members and volunteers of...more
In this week's newsletter, we provide a snapshot of the principal US, European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset...more
Charting New and Dangerous Waters - Lloyd George and Epictetus may be long gone but their words have much resonance with the events of 2016. The political fallout from the UK’s vote to leave the European Union (“EU”)...more
The Basel Committee on Banking Supervision (the “Basel Committee”) published an updated version of the “Basel III Document – Revisions to the securitisation framework” on 11 July 2016 (the “Amended Securitisation...more
The Institute of International Finance, the International Swaps and Derivatives Association and the Global Financial Markets Associations jointly issued an open letter to the Basel Committee on Banking Supervision. The letter...more
The Basel Committee on Banking Supervision published a list of jurisdiction specific pre-announced buffer decisions. In December, 2010, the Basel Committee published Basel III: a global regulatory framework for more...more
BROKER-DEALER - SEC Announces Creation of Office of Risk and Strategy - On March 8, the Securities and Exchange Commission announced the creation of the Office of Risk and Strategy (ORS) within the SEC’s Office of...more