According to a recent study, diverging regulatory frameworks across the world are costing financial institutions $780bn a year – and the bad news is this could get worse. By Justin Pugsley.
Banks welcome Basel accommodations on trading book
April 25, 2018The Basel Committee on Banking Supervision is in listening mode and has granted some important concessions about how the bank trading book should be governed – but banks are still concerned about non-modellable risk factors. By Justin Pugsley.
US Treasury shies away from radical overhaul of resolution process
March 21, 2018The US Department of the Treasury released a report on February 21 detailing suggested reforms to US bank resolution mechanisms, but the recommendations were more notable for what they do not want to change than what they want to amend. By Justin Pugsley.
Auditor questions ECB’s framework for identifying failing banks
February 21, 2018Auditors claim the European Central Bank has a number of flaws in the way it identifies banks that are failing or likely to fail. Although these are unlikely to seriously hinder a resolution, there are questions to be answered. By Justin Pugsley.
MiFID II’s soft launch leaves loose ends
January 23, 2018MiFID II has been one of the most hotly anticipated pieces of European financial regulation. Its launch in January did not disrupt markets, but questions linger over whether it will meet its objectives. Justin Pugsley reports.
Basel IV’s done – now comes the hard part
December 18, 2017The Basel Committee negotiators finally got there. The so-called Basel IV framework has been agreed and is not as harsh as many bankers had feared, but now comes an even harder part: implementing it consistently across the world. By Justin Pugsley.
Moves to change interest rate benchmarks trigger contract concerns
November 27, 2017Regulators are working to change the interest rate benchmarks, which underpin many of the world’s derivatives and structured finance products. But doing so could result in legal issues with longer dated contracts. By Justin Pugsley.
Data protection rules set to clash with MiFID
October 30, 2017Disparate regulatory frameworks clashing is nothing new, but the EU’s General Data Protection Regulation, which was not drafted specifically with banks in mind, is going to clash with other frameworks such as MiFID II, writes Justin Pugsley.
Office of the Comptroller of the Currency wades in on the Volcker Rule
September 25, 2017The largely unpopular Volcker Rule in the US, designed to restrict proprietary trading by banks, is up for review, with the Office of the Comptroller of the Currency taking the lead in what could result in regulatory relief for the banking sector. By Justin Pugsley.
Looking ahead: where now for the Basel Committee?
September 1, 2017The 10th anniversary of the financial crisis recently thrust the Basel Committee on Banking Supervision into the spotlight, but the next 10 years are likely to pose very different challenges for the institution. Justin Pugsley reports.