News

EU Commission gives UK CCPs 18-month equivalence post-Brexit

The European Commission has confirmed an 18-month equivalence for UK-based central clearing counterparties, giving EU banks a set timeframe to reduce their overexposure to derivatives clearing houses in Britain after the Brexit transition period ends.

24 September 2020

Uría Menéndez and Garrigues advising on Caixa-Bankia merger

Board members of CaixaBank have approved its €3.8 billion purchase of domestic counterpart Bankia – in a deal it says will make its non-performing loan ratio the lowest in Spain.

22 September 2020

Community round-up: departures at MAS and FCA

The UK’s Financial Conduct Authority and the Monetary Authority of Singapore have both announced the departures of key names.

22 September 2020

FinCEN overhauls AML rules

In the first significant change to its Bank Secrecy Act regulations in four years, US enforcement agency FinCEN has released proposals that would more explicitly define the statute’s requirements for “effective and reasonably designed” anti-money laundering programmes.

17 September 2020

Brazilian and Colombian regulators step up green bond efforts

Colombia’s banking regulator has become the first in Latin America to issue a regulatory framework for green bonds, as Brazil’s central bank has also pledged its backing.

17 September 2020

EBA backs first AML regulation

The prospect of an EU-wide AML regulation with direct effect moved a step closer this week, after the European Banking Authority backed the idea citing concerns over regulatory arbitrage.

15 September 2020

Singapore issues first conduct framework

In a long-awaited development, the Monetary Authority of Singapore has published guidelines on senior managers’ conduct – firing the starting gun on a new phase of self-scrutiny for firms operating in the city-state.

10 September 2020

SFT haircut standards delayed again

The covid-19 pandemic has pushed the Financial Stability Board to again extend the deadline for states to implement minimum haircut standards on non-centrally cleared securities financing transactions.

10 September 2020

“Let’s not run before we can walk”: BoE’s Bailey on stablecoins

Bank of England governor Andrew Bailey has urged caution on stablecoin initiatives, saying multi-currency ‘baskets’ are the “wrong place to start”.

08 September 2020

Fed admits stress-testing error

Goldman Sachs and Morgan Stanley’s capital requirements have been revised after the Federal Reserve admitted errors in its most recent stress tests.

08 September 2020

Get unlimited access to all Global Banking Regulation Review content