Jenny Radcliffe on People Hacking
The European Supervisory Authorities (ESAs, comprising the European Banking Authority, the European Insurance and Occupational Pensions Authority and the European Securities and Markets Authority) published official...more
The European Securities and Markets Authority (ESMA) has published the official translations of its guidelines on stress test scenarios under the Regulation on Money Market Funds (MMF Regulation). The guidelines apply to...more
On March 19, 2026, the Federal Reserve, the Office of the Comptroller of the Currency, and the Federal Deposit Insurance Corporation jointly published two notices of proposed rulemaking, and the Federal Reserve on its own...more
On March 19, the Federal Reserve, Federal Deposit Insurance Corporation (FDIC), and Office of the Comptroller of the Currency (OCC) (collectively, the agencies) jointly issued three proposed rules to “modernize” the...more
In our recent market update, we examined how geopolitical tensions and incidents of disruption \ have introduced significant uncertainty into regional capital markets and we considered a range of key areas for companies to...more
In opening remarks at the Federal Reserve Bank of Atlanta’s 2026 Banking Outlook Conference, Federal Reserve Vice Chair for Supervision Michelle Bowman outlined what she described as “the next horizon in banking” — a...more
On February 12, the FDIC released hypothetical economic scenarios for upcoming stress tests applicable to covered institutions with total consolidated assets exceeding $250 billion, including certain state nonmember banks and...more
On February 10, GAO released a report highlighting that nonbank mortgage companies have become increasingly dominant in the origination and servicing of loans packaged into federally backed mortgage securities and now account...more
To keep you informed of recent activities, below are several of the most significant federal events that have influenced the Consumer Financial Services industry over the past week....more
On February 3, the OCC issued a notice in the Federal Register seeking public comments on proposed revisions to its information collection requirements for annual stress test reporting by financial institutions with total...more
On 15 January 2026, the Prudential Regulation Authority ("PRA") published its annual letter setting out supervisory priorities for the UK insurance sector for the year ahead. What is the purpose of the PRA's 2025...more
Coming into 2025, the long-predicted “great wave” of bank mergers still appeared theoretical. But by year’s end, announced U.S. bank deals exceeded 2024 totals, and aggregate transaction value had moved decisively higher,...more
Key Financial Regulatory Developments - 2025 brought one of the most dynamic financial regulatory environments since the immediate aftermath of Dodd‑Frank, marked by shifting agency priorities, rapid litigation...more
On 15 January 2026, the UK Prudential Regulation Authority (PRA) published its supervisory priorities for 2026, outlining in letters its sector-specific priorities for the coming year to all banks, building societies (a form...more
The European Securities and Markets Authority (ESMA) has published its final report with guidelines on stress test scenarios under the Money Market Funds Regulation (MMF Regulation). ESMA updates these guidelines at least...more
In this publication, we explore 10 key focus areas for US bank regulators in the year ahead. Building on a fast start in 2025, 2026 is shaping up to be an extraordinarily active year, as US bank regulators continue down...more
The European Central Bank (ECB) has announced it will conduct a geopolitical risk reverse stress test on 110 directly supervised banks in the Single Supervisory Mechanism in 2026. In a reverse stress test, a pre-defined...more
The Bank of England (BoE) has published its report on the results of its stress test of central counterparties (CCPs). The BoE conducts regular stress tests of UK CCPs to assess their financial resilience and identify...more
The Bank of England (BoE) has launched its second system-wide exploratory scenario (SWES) exercise, this time focused on the private markets ecosystem. It will be run in collaboration with a group of banks and NBFIs active in...more
The Bank of England's (BoE) Financial Policy Committee (FPC) has published a Financial Stability in Focus report, revisiting its assessment of bank capital requirements. The FPC now judges that the appropriate benchmark for...more
The European Banking Authority (EBA) has launched a consultation on its revised guidelines for the supervisory review and evaluation process (SREP) and supervisory stress testing, mandated under the Capital Requirements...more
The European Securities and Markets Authority (ESMA) has published its final report on the draft regulatory technical standards (RTS) for open-ended loan-originating alternative investment funds (OE LO AIFs), pursuant to the...more
On October 24, the Fed requested comments on a set of proposals aimed at increasing the transparency and public accountability of its annual supervisory stress tests for large banks. ...more
Artificial intelligence (AI) and machine learning (ML) are now embedded in the core of banking — powering decisions in credit, fraud, anti-money laundering (AML), and more. These systems bring scale and speed — but also a new...more
On September 25, Fed Governor Michael Barr spoke at a conference on the evolution and future of stress testing for large banks, emphasizing the need to maintain its “dynamism and rigor” as a supervisory tool and suggesting...more