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
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 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 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
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