News

Regulators warned of coronavirus aftershock without Libor transition delay

Regulators could make banks vulnerable to a post-coronavirus market shock if they insist on phasing out Libor by its original end-of-2021 deadline, according to legal professionals.

03 April 2020

China approves Goldman and Morgan Stanley majority stakes

China has removed restrictions on foreign ownership of securities entities, days after Goldman Sachs and Morgan Stanley won regulators’ approval for them to assume majority control over their local joint ventures.

03 April 2020

Banks severed from inaugural cum-ex trial could still face penalties

Practitioners say German authorities have several avenues to sanction banks that were spared penalties in the country’s inaugural cum-ex trial.

03 April 2020

Covid-19: Dividends halted till October, Basel IV implementation delayed by a year

The Basel Committee has pushed back its deadline for implementation of the so-called ‘Basel IV’ standards by a year to allow banks to concentrate on mitigating the Covid-19 crisis, as EU and UK regulators request banks to hold off paying out shareholder dividends until October.

01 April 2020

EBA draft standards for FRTB implementation draw scepticism

Banks may not be incentivised to adopt the internal model approach offered under the EU’s Fundamental Review of the Trading Book (FRTB) under new draft standards offered by the European Banking Authority, practitioners say.

01 April 2020

45 under 45 – call for nominations

GBRR is assembling a “45 under 45” survey, and inviting nominations from our readers.

27 March 2020

Basel crypto-asset proposals criticised as “effectively prohibitive”

Respondents to the Basel Committee’s consultation on the prudential treatment of crypto-assets have warned that its draft proposals risk pushing banks out of the market altogether.

27 March 2020

“Teammates”: US banks receptive to Covid-19 measures as CECL implementation delayed

Practitioners say US banks are responding positively to measures taken to resuscitate the economy following the coronavirus outbreak, as the US Senate postponed the implementation of a controversial new accounting standard as part of its US$2.2 trillion stimulus package.

27 March 2020

“Purposeful” culture: the FCA approach and driving diversity

The UK’s Financial Conduct Authority recently called on firms to develop a “purposeful” culture. But what does “purpose” mean for financial institutions?

27 March 2020

The rainy day is here: regulators delay reforms and dial down capital buffers amid Covid-19

Regulators around the world are delaying long-planned reforms, cancelling stress tests and reducing or eliminating capital buffer requirements as financial institutions grapple with the economic impact of the Covid-19 outbreak.

20 March 2020

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