Region: European Union

UBS to absorb Credit Suisse, with AT1 bonds written off

Switzerland’s two G-SIBs are set to become one, in a regulator-brokered deal which has unexpectedly written off the beleaguered Credit Suisse’s AT1 bondholders following a week of mounting concern over the bank’s future.

20 March 2023

Over a quarter of EU financial institutions still have no diversity policy, EBA finds

On International Women’s Day, the European Banking Authority has revealed over a quarter of EU institutions still have not produced their CRD IV-mandated diversity policy and only 18% of executive directorships are held by women – despite also finding a correlation between firms with greater gender balance and higher return on equity.

08 March 2023

Four steps firms can take to prepare for the EU’s DLT pilot

With the go-live date for the EU’s DLT pilot regime fast approaching, Alisa DiCaprio, Chief Economist at R3, discusses four actions that participating firms can take to prepare.

24 February 2023

Two fifths of firms have no EMIR Refit plan, report finds

Many firms are “behind the curve” on preparedness for the European Market Infrastructure Regulation’s Refit, a survey of transaction reporting decision-makers has found – with two fifths still without an action plan in place.

20 February 2023

Three years on from Brexit: a few hits, and many misses. So what’s to come?

While Brexit is yet to deliver the bombastic deregulatory hopes of “Big Bang 2.0”, that’s probably for the best, argue ACA group directors Andrew Poole and Charlotte Longman.

16 February 2023

European banks set to get new mortgage portfolio standards

A new energy efficiency directive approved by a key European Parliament committee is set to land the EU’s banks with new obligations for their mortgage portfolios.

14 February 2023

Digital euro will fail without us, German banks say

Amid widespread banking scepticism over the potential of central bank digital currencies Germany’s banking industry body has backed a digital euro as “the next important step in the evolution of money” – but argued that its success hinges on not leaving commercial and private banks behind.

07 February 2023

Commission’s EMIR 3.0 plans “harmful to capital markets”, ISDA says

ISDA and three other industry bodies have told the European Commission its “EMIR 3.0” plans – including a requirement for an active EU-based CCP account from firms subject to the EU clearing obligation – will make EU firms less competitive.

03 February 2023

EU: ECON passes Basel implementation package with consolidated output floor

A key EU parliamentary committee has accepted adaptations to the final Basel III implementation, and opened the door for a potential future dedicated prudential framework that could include a “one-for-one” capital treatment for crypto and fossil fuel financing.

30 January 2023

A blessing or a curse: tokenisation is finance’s number one operational risk, BdF’s Beau says

Tokenisation has the potential to jeopardise the stability of the entire financial system and is the “number one operational risk” to financial players, a senior French regulator has warned a New York audience, as he outlined his ambitions for DLT regulation in France.

23 January 2023

Unlock unlimited access to all GBRR content