WORD OF THE DAY® – Clean-Up Call
The European Commission has launched a targeted consultation on a possible digital euro. The EU is considering introducing a digital euro for retail payments, which would be available alongside cash. A decision has not yet...more
The Financial Conduct Authority (“FCA”) published a statement reminding firms about potential financial crime risks linked to Afghanistan. Commission Delegated Regulation (EU) 2021/1415 supplementing the Securitisation...more
The European Central Bank has published its final Guide on the assessment methodology it will use to examine: (i) the internal model methods banks use to calculate exposures to counterparty credit risk; and (ii) the advanced...more
The proposal is part of an effort to aid economic recovery and enhance the capacity of banks to lend to corporates and SMEs. The European Commission’s proposal to amend the Securitisation Regulation1 and the Capital...more
The Board of Supervisors of the European Banking Authority has nominated José Manuel Campa (Global Head of Regulatory Affairs at Santander) as the new Chair of the EBA...more
The FCA and PRA announced changes to enforcement process with the aim of strengthening the transparency and effectiveness of enforcement decision-making processes. Some of the changes have already come into force, the rest...more
Financial Industry Developments - Class Action Against Lending Club and WebBank Headed to Defeat - On Monday, January 31, 2017, a federal district court in the Southern District of New York granted a motion to...more
The EBA reports that overall there appears to be a lack of correlation in terms of outcomes and conclusions between the core funding ratio and the net stable funding ratio for the whole sample, in particular for smaller...more
Agencies Issue Proposal on Method to Adjust Threshold for Exempting Small Loans from Special Appraisal Requirements - On July 22, 2016, the Consumer Financial Protection Bureau, the Federal Reserve Board and the Office...more
ECB Publishes Public Consultation - The European Central Bank ("ECB") has published a Public Consultation on a draft Addendum to the ECB Guide on options and discretions available in Union law. ...more
On October 1, 2015, the European Banking Authority (EBA) published its first report analyzing asset encumbrance in EU banks. The aim of the report is to monitor the extent of and the changes in the levels of asset encumbrance...more
SEC Proposes to Amend Rules Governing Its Administrative Proceedings - On September 24, the U.S. Securities and Exchange Commission (the "SEC") proposed to amend rules governing its administrative proceedings. Key...more
On 30 September 2015, the European Commission (the “Commission”) published a proposal for a regulation (the “Proposed Regulation”)1 intended to harmonise existing EU laws applying to securitisations (including proposed...more
On August 19, 2015, the European Banking Authority (EBA) published a call for advice (dated 26 June 2015) it has received from the European Commission on the EBA’s reports on net stable funding requirements (NSFR) and...more
On July 28, the European Banking Authority (EBA) published a chart setting out the key metrics used to identify global systemically important institutions (G-SIIs) in the EU. The chart contains information on the size,...more
European Commission Requests 11 Member States to Implement Bank Recovery and Resolution Directive (BRRD) - On May 28, 2015, the European Commission published a press release announcing that it has requested 11 member...more
Background - Article 405 of Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU)...more