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img_publication Watch

Financial Regulation: Weekly Update. 1 December 2017

By , ,

Highlights: FSB issued two consultations on bail-in execution and funding in resolution. EBA published report on risks for the banking system, and the transparency exercise. ECB issued consultation on the development of an unsecured overnight interest rate. Finally, EBA repealed its guideline on the identification of deposits subject to different outflows.


GLOBAL

 

  • FSB consults on guide to support resolution planning and promote resolvability

Two consultations: i) on “Principles of bail-in execution” to help authorities make G-SIB resolution strategies operational, and ii) on “Funding strategy elements of an implementable resolution plan” for the development of funding in resolution plans. Deadline: 2 Feb 2018.

 

EUROPE

 

  • EBA publishes report on risk in the banking sector and transparency exercise

It highlights the EU banking sector’s resilience in a benign macro and financial environment. Reducing NPLs is still a challenge and IT security is a priority. It includes the 2017 EU-wide transparency exercise.

  • ECB consults on euro unsecured overnight interest rate, and asks for participation in WG

It consults on the development of a new daily euro unsecured overnight interest rate. It also launches a call for expressions of interest in participating in the Working Group (WG) to develop a risk-free overnight rate to be used as a benchmark. Deadline: 12 Jan 2018.

  • EBA repeals guidelines on deposits subject to different outflows for liquidity reporting

Given that EC has adopted the ITS on LCR reporting, EBA has decided to repeal its guide to identifying retail deposits subject to different outflows for the purpose of liquidity reporting.

  • ESMA publishes peer review on guidelines to the compliance function under MiFID

It finds a high-level of compliance among NCAs, with some exceptions. The guidelines cover NCAs’ supervision of investment firms’ compliance functions.

  • EC asks for feedback on proposal to amend EBA regulations regarding its location

Reflecting the Council’s decision to move the EBA to Paris, it seeks to amend the regulations establishing the authority accordingly. Deadline: 25 Jan 2018.

  • ECB publishes statement of commitment to Foreign Exchange Global Code of Conduct

Central banks in the European System of Central Banks (ESCB) are committed to support and promote adherence to the FX Global Code.

 

UNITED KINGDOM

 

  • BoE publishes financial stability report

Highlights the positive results from 2017 stress test (no bank needs to increase capital), the increase in capital buffers, and potential threats from macroeconomic effects due to Brexit.

 

 

Recent publications of interest (in English and Spanish):

 

 

 

Previous editions of our Weekly Regulatory Update in Spanish and English

 

 

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