News

ECB warns banks to improve internal capital checks

European banks need to “do more” to improve data quality and stress testing practices in their internal capital adequacy assessment processes (ICAAPs), the European Central Bank has warned.

19 August 2020

ECB reshuffles supervisory arm

The European Central Bank will group banks by business model rather than size under an newly overhauled structure for its supervisory arm.

18 August 2020

Union Bank liquidates in Liechtenstein

Liechtenstein regulators have de-authorised Vaduz-based Union Bank after it failed to find a backer to help it meet capital requirements – rejecting an offer from the CEO of a Malta-based cryptocurrency exchange.

18 August 2020

US and Brazil unveil instant payment systems

The US Federal Reserve has announced details of its interbank payment service FedNow despite scepticism over potential competition with the private sector, as the Brazilian central bank reveals a launch date for its own new payments system network, Pix.

14 August 2020

Prudential round-up: Fed sets new capital requirements as APRA’s reform programme resumes

The US Federal Reserve has announced new capital requirements for large banks, as Australia’s prudential regulator resumes licence issuing and its post-Royal Commission policy programme, which had been suspended during the covid-19 outbreak.

14 August 2020

Germany’s Bafin clears up indirect lending rules

Germany’s banking regulator has clarified elements of its Bank Separation Act, stressing that special-purpose vehicles controlled by investment funds can assume the default risk when borrowing from fully-licenced banks.

12 August 2020

SEC commissioner confirmed as enforcement co-director departs

The co-director of the US Securities and Exchange Commission’s enforcement division Steven Peikin is set to step down, as the regulator welcomes new commissioner Caroline Crenshaw following her senate confirmation.

12 August 2020

Baoshang bankruptcy a “compliance wake-up call” in China

China’s central bank has announced that it will allow troubled Baoshang Bank to become the first commercial lender to file for bankruptcy in China since 2001, in a move that could prompt other lenders to “step up” their risk assessments and internal audits amid growing non-performing loan portfolios.

10 August 2020

Basel urges improved disaster planning

The Basel Committee is proposing to update its operational risk framework with new change management and technology principles, urging banks to step up their disaster planning in the wake of the disruption wrought by the covid-19 pandemic.

10 August 2020

EBA ushers in MREL and TLAC quarterly reporting with new standards

The European Banking Authority has released its final report on disclosure and reporting of the minimum requirement for own funds and eligible liabilities (MREL) and the total loss absorbency requirement (TLAC), marking the first time the regulator has developed rules for these areas.

07 August 2020

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