News/Regulation
Watch out for Brexit cliff edge 2.0, experts warn
Measures to mitigate a sharp rupture for financial services could be less likely at end-2020
Brainard lending proposal gets boost in Congressional hearing
Participants applaud Fed proposal, while strongly criticising plan by OCC’s Otting
Fed’s Brainard criticises other US regulators over lending proposals
Fed governor warns proposed reforms from FDIC and OCC could harm poorer areas
EU central bankers urge UK to stay close on regulation
Klaas Knot and Luis de Guindos warn UK could lose out if it diverges from EU regulations, but Mark Carney says UK needs autonomy
Risk weight tweak could fix IFRS 9 capital clash – research
Practitioner suggests way to cancel out double-counting of Basel credit loss provisions
BoE and FCA move to tackle systemic risks in open-ended funds
Illiquid funds will be expected to impose a price discount or delay in event of investor sales; Mark Carney says issues are “increasingly appreciated” in global discussions
RBNZ to impose 18% capital ratio on big banks
Central bank finalises plans for substantial increase in minimum capital requirements
BoE hits Citi with fine over reporting failures
Penalty marks first time PRA has sanctioned a systemic firm for regulatory reporting breaches
FSB warns gaps remain in resolution frameworks
Issues remain for central counterparties, global banks and insurers, report finds
RBNZ may raise insurance firms’ solvency levels
Governor expects review of insurers will lead to “series of thresholds”
‘PRA robot’ highlights rise in regulatory complexity
BoE’s Sam Woods says linguistic analysis reveals some problems with the wording of regulation
FSB calls out ‘uneven’ regulation as vulnerabilities evolve
Board cautions against complacency; Basel Committee says members are still missing deadlines
Brainard attacks Fed plan to soften regulations
Governor warns regulatory cutbacks risk weakening “core safeguards” put in place post-2008
PBoC to rein in financial holding companies
New rules for financial conglomerates designed to contain risks to the real economy
UK financial regulators begin work on ‘air traffic control’
BoE, FCA and others to co-ordinate more closely on regulation
Irish central bank levies record fine on Wells Fargo
Irish subsidiary of US bank fined $6.6 million for “serious failings" in regulatory reporting
ECB needs liquidity powers for bank resolution – Spanish governor
De Cos stresses mechanism must include guarantees to repay public money
RBNZ on course for capital ratio hike despite backlash from banks
Big banks say plan is “too large and too costly”
Basel Committee overhauls leverage ratio to tackle ‘window dressing’
New disclosure rules aim to end “unacceptable” quarter-end rush to cut leverage
RBNZ aims to toughen banking oversight
New Zealand central bank wants to play a more “intensive” and “intrusive” supervisory role
Narrow bank TNB hits back at Fed regulatory proposal
Fed overreaching by attempting to rewrite its chartering authority, TNB says; investment firm DE Shaw also reveals intentions to launch a narrow bank
RBI toughens liquidity rules for non-banks in wake of 2018 stress
Default by IL&FS triggered liquidity problems across financial markets
FSB launches review of ‘too-big-to-fail’ policies
Bundesbank’s Claudia Buch to lead evaluation of post-crisis reform efforts
New Zealand banks attack RBNZ capital proposals
Central bank proposal would almost double banks’ minimum capital requirements