Topic: Banking regulators

What will Biden’s presidency mean for banking regulation?

Joe Biden has defeated Donald Trump to become the United States’ next president – triggering an overhaul of the federal government and its regulatory agencies. What can banking regulation practitioners around the world expect from the new administration?

19 November 2020

Biden taps Gensler to lead financial regulation transition team

US president-elect Joe Biden has named former CFTC chair Gary Gensler to head up a task force charged with organising the handover of power at the United States’ financial regulatory agencies – with figures specialising in fintech and corporate governance among the new team members.

11 November 2020

DFS first US regulator to explicitly call for climate risk integration

New York’s financial regulator has become the first US-based agency to explicitly tell banks to incorporate climate risks into their models, as the Financial Stability Board’s climate task force says banking ranks lowest of all industries in disclosing climate-related targets.

04 November 2020

SEC director steps down, CFTC reshuffles departments

The US Commodities Futures Trading Commission has reshuffled four departments, while the head of the Securities and Exchange Commission’s international affairs office is leaving the agency.

04 November 2020

Deutsche sells off Mexican trust business after “continual pressure” from regulator

Skadden Arps is advising Deutsche Bank on the sale of its trust business in Mexico, which comes after a year of “continual pressure” from the country’s financial regulator to complete the deal.

29 October 2020

US regulators approve new-look liquidity rule despite opposition

US financial regulators have approved measures requiring major banks to prove their funding can endure one year of stress, amid objections from minority members of the Federal Reserve and FDIC boards that the revamped rule “defeats the purpose” of the original proposal.

22 October 2020

Amid bank scepticism, EBA announces three-year software capital relief period

The European Banking Authority has proposed to allow banks to include the value of software assets in their capital calculations, despite banks saying the changes would still bring about an “unlevel playing field” for EU banks in an international context.

15 October 2020

DFS calls for regulators to target social media companies after Twitter hack

New York’s Department of Financial Services has called for social media companies to be regulated as systemically important institutions, saying a July hack of multiple public figures’ Twitter accounts raised serious cybersecurity concerns.

15 October 2020

Reserve Bank of India names new regulatory chief

The Reserve Bank of India has appointed a new deputy governor with responsibility for its regulatory activities, as it faces calls from a former supreme court justice for increased transparency and accountability in its decision-making.

14 October 2020

Hire suptech talent, FSB urges regulators

Regulators should focus on attracting talent that can develop tailored suptech tools, according to a new report from the Financial Stability Board.

12 October 2020

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