Region: European Union

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

Community round-up: Libra names second GC in three months, ESMA names CCP committee

O’Melveny & Myers partner Stevan Bunnell has joined Facebook’s cryptocurrency project Libra as chief legal officer, while the European Securities and Markets Authority has nominated members for the central counterparties supervision committee formed under last year’s EMIR revision.

04 September 2020

CSDR settlement discipline regime delayed, as securitisation repository registration comes online

The European Securities and Markets Authority (ESMA) has confirmed that aspects of the upcoming securitisation regulation will come online later this month, shortly after the EU delayed the entry into force of the Central Securities Depositories Regulation (CSDR) settlement discipline regime.

04 September 2020

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

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

EBA announces revamp of Pillar 2 estimation model for MREL

The European Banking Authority has proposed to change how it calibrates banks’ minimum requirement for own funds and eligible liabilities (MREL).

29 July 2020

Australia relaxes, Europe extends, Singapore introduces dividend restrictions

Australian regulators have announced a relaxation on dividend restrictions imposed at the beginning of the covid-19 crisis – while their European counterparts have extended them until next year, and Singaporean regulators have called on banks to cap dividends for the first time.

29 July 2020

EBA invites submissions to re-evaluate banks’ reporting compliance costs

The European Banking Authority has invited banks and regulators to chime in as it prepares to make recommendations on reducing the costs of complying with supervisory reporting obligations.

27 July 2020

CPMI urges regulatory synchronisation for cross-border payments

A G20 report says the benefits to cross-border payments from technological advances will be limited if states don’t coordinate their regulatory frameworks as well.

14 July 2020

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