Resolution
BoE sets final rules for bank loss-absorbency
Final rules for bail-inable debt adjusted for longer transition and lighter load on smaller banks
Top US and EU officials hold resolution war game
US, UK and eurozone central bankers, regulators and politicians participate in an exercise designed to improve the co-ordination of cross-border resolution
FSB fleshes out guidance on resolution
Reports add detail on emergency funding needs for global banks and maintaining the continuity of critical services during resolution; most standard-setting work expected to be finished in 2017
RBI approves new method for restructuring stressed loans
Indian banks will be able to split some of their largest stressed loans in two; rules introduced as RBI looks to help banks achieve “clean and fully provisioned bank balance sheets” by March 2017
Swiss regulator forms resolution division
Regulator hopes to focus its efforts by uniting disparate teams in a new division, with current enforcement chief David Wyss becoming head of resolution
Draghi policy announcement notable for its absences
ECB president announces slight upward revision in ECB's eurozone growth and inflation predictions, but does not unveil any new financing policies for Greece
Eurozone's Single Resolution Board sets out 2016 plans
Eurozone's Single Resolution Board sets out its plans for 2016; resolution manual to be published in summer and resolution plans to be approved by end of 2016, board member says
Hoenig warns reliance on long-term debt could represent systemic vulnerability
FDIC vice-chairman warns of danger of substituting long-term debt for equity and comments on disagreement with Fed over ‘living wills’
Minneapolis Fed to explore resolution alternatives in TBTF initiative
Neel Kashkari adds alternative resolution mechanisms to the agenda as Minneapolis Fed looks for solutions to the too-big-to-fail problem; discusses outcomes from this month’s symposium
Investors to sue Portuguese central bank over asset writedown
A group of bondholders in a failed bank are bringing a lawsuit against the Portuguese central bank over its writedown of their holdings in a failed commercial bank
BoE’s Breeden plots route to ‘third phase’ of global banking regulation
Regulators have moved from fragmentation to “balkanisation”, and now must work to establish full co-operation, executive director says
Progress on resolution frameworks has slowed, FSB warns
Few jurisdictions have all the rules in place and legislative progress is slowing, Financial Stability Board says in its latest peer review of resolution regimes
San Marino’s new central bank chief faces NPL challenge
Staff at IMF stress need for “comprehensive strategy” to clean up balance sheets in the banking sector; Wafik Grais takes office as chairman of the central bank after prolonged vacancy
EBA raises concerns over Commission’s MREL changes
European Banking Authority challenges European Commission’s proposed changes to MREL criteria; opposes removal of reference to minimum burden-sharing standards
Rohde says resolution offers ‘genuine alternative’ to granting emergency liquidity
With the ability to recover or resolve firms in an orderly fashion, the National Bank of Denmark finds itself with an alternative to granting emergency liquidity assistance, governor says
UK banks must raise extra £27bn to meet resolution needs under BoE proposals
Large banks will have to issue additional subordinated debt to meet MREL requirement under proposals designed to ensure banks will continue to operate under resolution
FSB unveils final TLAC standard
Global systemically important banks will need to build sizeable stocks of loss-absorbing capacity by 2019; many jurisdictions are lagging behind on implementing resolution framework
FSB finalises elements of global bank resolution framework
The raft of documents includes final principles for effective cross-border resolution actions; latest list of globally systemic banks also published
PRA plans to subject ‘other systemic institutions’ to tougher scrutiny
Institutions designated as O-Siis would face tighter scrutiny and be expected to produce resolution plans, with the potential for further measures in the future
Hong Kong authorities look to bring shadow banks into resolution regime
Plans for resolution regime are advancing, with legislation expected by the end of the year; unregulated financial institutions can still be covered by the regime
JP Morgan exec challenges CCPs over skin in the game
'Why wouldn't you put up... all of your capital?' asks Olsen, at panel on CCP recovery and resolution at New York conference
South African deputy looks to fill gaps in resolution setup
Francois Groepe highlights main elements of proposals for a new resolution framework in South Africa; particular emphasis on creating a deposit guarantee scheme
Ukrainian governor declares victory in banking sector clean-up
Valeriia Gontareva says 54 banks were put into resolution as part of the National Bank of Ukraine’s efforts to put banks on a sounder footing
BoE’s Gracie praises TLAC and MREL standards
Executive director says loss-absorbing capacity provided by the two standards will help regulators co-operate across borders and ensure core functions can continue to operate