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Prudential Standards

Final EU Standards on the Prudential Requirements for Central Securities Depositories Published

by Shearman & Sterling LLP on

Regulatory Technical Standards supplementing the Central Securities Depositories Regulation setting out the prudential regime for central securities depositories was published in the Official Journal of the European Union. A...more

Investment Funds Update - Europe: Legal and regulatory updates for the funds industry from the key asset management centres and...

by Dechert LLP on

Audit Regulators in Australia and in Luxembourg Enter Into Cooperative Agreement - The Australian Securities and Investments Commission and Luxembourg’s Commission de Surveillance du Secteur Financier (“CSSF”) have...more

Tailoring More Stringent Prudential Standards Under Section 165 of Dodd-Frank: Fed Finalizes Stress Test Relief for Large and...

by Morrison & Foerster LLP on

On January 30, 2017, the Board of Governors of the Federal Reserve System (the “Federal Reserve”) adopted a final rule (the “Final CCAR Rule”) that revises the capital plan and stress test rules under the Dodd-Frank Wall...more

US, EU Enter Into Covered Agreement on Insurance

On Jan. 13, 2017, the U.S. Department of the Treasury and the Office of the U.S. Trade Representative ("USTR") released the terms of the long-awaited covered agreement between the United States and the European Union (the...more

Federal Reserve Board Governor Daniel Tarullo Discusses Financial Regulation Since the Crisis

by Shearman & Sterling LLP on

Federal Reserve Board Governor Tarullo gave a speech defending post-financial crisis efforts to strengthen regulation governing the financial system. Governor Tarullo also criticized recent Republican legislative regulatory...more

European Banking Authority Publishes Views From Impact Assessment on Implementation of IFRS 9

by Shearman & Sterling LLP on

The European Banking Authority published a Report outlining observations from its impact assessment on the implementation of International Financial Reporting Standard 9. The report analyzes the estimated impact of...more

Federal Banking Agencies Issue Recommendations as Part of Their Section 620 Report to Solidify the Safety and Soundness of the...

by Morrison & Foerster LLP on

On September 8, 2016, the Board of Governors of the Federal Reserve System (the “Federal Reserve”), the Federal Deposit Insurance Corporation (the “FDIC”) and the Office of the Comptroller of the Currency (the “OCC,” and...more

FCA MiFID II Consultation Paper: How FCA plans to implement parts of MiFID II

by DLA Piper on

On 29 July 2016, the FCA released consultation paper 16/19: MiFID II Implementation. The FCA is seeking stakeholders' views on its proposals for changes to the Handbook to implement the requirements of MiFID II and...more

Financial Regulatory Developments Focus - June 2016

by Shearman & Sterling LLP on

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

UK Financial Regulatory Developments - April 2016 #22

by Dentons on

TCFD consults on forthcoming work - TCFD has launched a questionnaire seeking views to inform its thinking throughout the year whilst its recommendations are still under development. The consultation asks questions on...more

US Board of Governors of the Federal Reserve System Proposes New Data Items for Regulatory Reporting by Foreign Banking...

by Shearman & Sterling LLP on

The US Board of Governors of the Federal Reserve System proposed changes to various reporting forms, including FR Y-7N, FR Y-7NS and FR Y-7Q, requiring collection of fourteen new data items to monitor compliance with enhanced...more

Financial Regulatory Developments Focus - March 2016 #4

by Shearman & Sterling LLP on

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

Single Resolution Board Begins Data Collection for MREL Determination

by Shearman & Sterling LLP on

The Single Resolution Board announced that it had started to collect data for the purposes of resolution planning and the determination of the Minimum Requirement for Own Funds and Eligible Liabilities (known as MREL) for...more

European Central Bank Proposes Guide for Recognition of Institutional Protection Schemes

by Shearman & Sterling LLP on

The European Central Bank launched a consultation on its proposed guide to the recognition of institutional protection schemes for prudential purposes. Under the Capital Requirements Regulation an IPS is a contractual or...more

Financial Regulatory Developments Focus - February 2016

by Shearman & Sterling LLP on

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

EBA defines harmonised prudential requirements for CSDs

by Dentons on

EBA has published its draft RTS on prudential requirements for Central Securities Depositories (CSDs). The RTS set out the prudential framework that will apply to both CSDs offering banking-type ancillary services and...more

EBA Final Draft RTS on Prudential Requirements for CSDS

On December 16, the EBA published its final report setting out draft RTS on prudential requirements for central securities depositories (“CSDs”) under the Regulation on improving securities settlement and regulating CSDs...more

Fed Governor Brings Shadow Banking Into the Light

Why it matters - In addressing the impact of the so-called shadow banking industry with the financial markets, Daniel K. Tarullo, a member of the Board of Governors of the Federal Reserve System, advocated for regulation...more

BoE discusses prudential regulation and supervision priorities

by Dentons on

BoE Director of General Insurance, Chris Moulder, has spoken to the Westminster Business Forum on the policy priorities for prudential regulation and supervision. He discussed the approach to the Solvency 2 regime, preferred...more

IFSB publishes 2015 indicators

by Dentons on

IFSB has published its second set of Prudential and Structural Islamic Financial Indicators from 16 member countries....more

BIS consults on TLAC holdings

by Dentons on

The Basel Committee has issued a consultation on the prudential treatment of banks’ investments in holdings of TLAC qualifying instruments. The proposal is for banks to deduct from their regulatory capital their holdings of...more

Legislative Proposal for an EU Framework for Simple, Transparent and Standardized Securitization

On September 30, 2015 the European Commission (EC) published a legislative proposal for an EU framework for simple, transparent and standardized securitization. It has also published a legislative proposal for a regulation...more

EBA consults on harmonised definition of default

by Dentons on

EBA is consulting on draft guidelines under the Capital Requirements Regulation (CRR) to harmonise the definition of default across the EU prudential framework, which is intended to bring consistency in the way EU banks apply...more

Australian Superannuation Update: Independent Directors Superannuation Governance Bill

by DLA Piper on

On Wednesday, 16 September 2015, the government tabled legislation that, if passed, will impose, in the case of corporate trustees, a requirement that one third of directors be independent from the trustee with an independent...more

European Banking Authority Shadow Banking Guidelines – Part 3: The Rationale and Context Behind the Guidelines

by Ropes & Gray LLP on

In the third of our series of updates on the European Banking Authority (EBA) consultation paper on the draft EBA Guidelines on limits to the exposures that EU regulated banks should have to shadow banks (the Guidelines), we...more

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