News

FSB warns of climate transition domino effect

The Financial Stability Board has warned that the materialisation of climate risks may produce a domino effect within the financial system worse than that of the 2008 financial crisis, if banks take actions in their individual interests that pose threats to global financial stability.

25 November 2020

OCC moves against fossil fuel “discrimination”

The US Office of the Comptroller of the Currency has proposed a “fair access” rule that would prevent banks from limiting their lending to the fossil fuel and other unpopular industries.

23 November 2020

Banks must turn to AI to meet Libor deadline, Paul Hastings/GBRR webinar hears

Banks must make use of artificial intelligence technology for outstanding Libor contracts or risk their transition away from the benchmark stretching past its end-2021 cut-off, heard attendees of a webinar co-organised by GBRR and Paul Hastings.

23 November 2020

FCA plans “synthetic Libor” for post-2021

The UK’s Financial Conduct Authority has outlined the scenarios in which it will publish a newly-calculated “synthetic” Libor after its end-2021 discontinuation, under fresh powers handed to it by the newly introduced Financial Services Bill.

23 November 2020

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

FSB warns of rising over-reliance on outsourcing

The Financial Stability Board has warned that over-reliance by banks on third party service providers poses a threat to financial stability, as one firm predicts a “major compliance exercise” to come.

19 November 2020

Santander snaps up Wirecard payments platform, with A&O advising

Allen & Overy is advising Santander on its acquisition of Wirecard’s core technology assets, the latest in a series of firesales at the collapsed German payments firm which is facing claims worth over €12 billion.

18 November 2020

Sullivan & Cromwell and Wachtell Lipton advise as PNC buys BBVA USA

Pittsburgh-based PNC has agreed the purchase of Spanish bank BBVA’s US subsidiary – setting off a regulatory approvals process that will extend into the Biden administration.

18 November 2020

45 under 45

Featured in 45 Under 45 2020

GBRR is proud to introduce our “45 under 45”, profiling 45 leading next generation banking regulation specialists from around the world, all under the age of 45 at the time of publication.

16 November 2020

Australian regulator rolls back remuneration overhaul after industry outcry

Australia’s prudential regulator has rolled back its plans to radically reshape its remuneration framework, after being told its introduction of a cap on financial measures for variable remuneration was a “blunt instrument” that undermined boards’ roles in setting structures.

12 November 2020

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