The European Central Bank has published a statement on its framework for assessing capital buffers of other systemically important institutions. In the statement, the ECB announced that it will enhance the floor methodology...more
Deposit Insurance - Are the deposits at my bank FDIC-insured? Deposits held at FDIC-insured depository institutions are insured up to $250,000 per depositor for deposits held in the same “right and capacity.”...more
On July 27, 2023, the Federal Reserve, FDIC, and OCC issued a notice of proposed rulemaking and request for comment on a proposal (the Proposal) to implement the final components of the Basel III Capital Accords, often...more
On May 3, the Securities and Exchange Commission approved a new rule that will require hedge fund advisers and private equity advisers to disclose more information to regulators on Form PF about their stability risks and...more
On May 3, 2023, the Securities and Exchange Commission (SEC) adopted amendments to Form PF. Form PF is the “confidential reporting form for certain SEC-registered investment advisors to private funds” that “provides the...more
UPDATE (3/20 PM): Developments Related to Flagstar Bank, SVBB, SVB Financial Group, Credit Suisse, and First Republic Bank- On March 19, 2023, the FDIC announced that the agency has entered into a purchase and...more
COVID-19: PRA letter to credit unions and direction modifying minimum provisioning requirements - On 7 October 2020, the UK Prudential Regulation Authority (PRA) published a letter to directors of credit unions on...more
Cities have taken the lead when it comes to regulating facial recognition technology. Currently, there is no federal regulation on this kind of technology, nor any policy in place to govern the use of the data obtained...more
The European Systemic Risk Board has appointed Jan Reinder De Carpentier as its new Vice Chair. New board members Pedro Machado and Jesús Saurina have also been appointed...more
The European Banking Authority has launched a consultation on proposed Guidelines on the appropriate subsets of sectoral exposures to which national regulators may apply a systemic risk buffer under the Capital Requirements...more
The European Systemic Risk Board has published a Recommendation on the exchange and collection of information for macroprudential purposes by national regulators about branches of banks (credit institutions) that have their...more
The Banking Reform Package marks a milestone in the new EU regulatory landscape. On 27 June 2019, a series of measures referred to as the Banking Reform Package comes into force, subject to various transitional and staged...more
The Prudential Regulation Authority has released its first systemic risk buffer rates, which will apply from August 1, 2019. The rates determine the amount of additional regulatory capital which must be held by "systemic risk...more
On October 1, 2018, Chairman J. Christopher Giancarlo of the Commodity Futures Trading Commission ("CFTC") published a white paper entitled "Cross-Border Swaps Regulation Version 2.0: A Risk-Based Approach with Deference to...more
In a response to the difficulties it experienced in identifying nonbank systemically important entities, the Financial Stability Oversight Council (FSOC) has proposed a new procedure for detecting and dealing with potential...more
The U.K. Prudential Regulation Authority has published a consultation paper entitled "The systemic risk buffer: Updates to the Statement of Policy," proposing minor updates to its Statement of Policy, "The PRA’s approach to...more
The European Systemic Risk Board has published a final report setting out proposed amendments to the ESRB Handbook on Operationalising Macroprudential Policy and policy proposals on the legal framework of the systemic risk...more
On November 15, 2017, audit, tax and consulting firm PwC published a thought leadership piece titled: “Sub-line facilities: end of the road?” (the “Article”). While the subscription credit facility (“Subscription Facility”)...more
The U.S. Department of the Treasury (Treasury) recently released a report examining the regulatory framework for the asset management and insurance industries (Report). The Report is the third in a series of four reports that...more
Could blockchain redefine the structure of the capital markets? The venue for trading and the management of risks of trades have traditionally been the role of exchanges and market infrastructure organizations such as the...more
The Federal Reserve Bank of New York issued a Staff Report this week titled "Macroprudential Policy and the Revolving Door of Risk: Lessons from Leveraged Lending Guidance,” that studied the effects of the March 2013...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
The Prudential Regulation Authority published a Statement of Policy setting out its approach to the implementation of the systemic risk buffer. The SRB is used to prevent and mitigate long term non-cyclical macro-prudential...more