Borrowings in US dollars by non-banks grew at a slower pace in the year ending June 2019 compared with euros and Japanese yen, the Bank for International Settlements (BIS) said.
EBA calls on European Commission for harmonisation to spur cross-border financial services
The European Banking Authority (EBA) has published a report calling on the European Commission to take action to facilitate cross-border financial services within the EU.
ISDA consultation reveals industry splits over managing fallbacks
Most market participants are not keen to continue referencing covered interbank offered rates (Ibors) in existing or new derivatives contracts, but were split on how to manage fallbacks.
Basel Committee lines up busy schedule for November
At its meeting on October 30-31, the Basel Committee on Banking Supervision agreed to hold consultations on the credit valuation adjustment risk framework, disclosure requirements and guidelines to enhance co-operation between prudential regulatory authorities.
EU grants UK another Brexit extension
The European Council has extended the UK’s membership of the EU until Jan 31, 2020, following a request from prime minister Boris Johnson who was forced to do so by the UK parliament.
First phase of SFTR reporting obligations likely to face some disruption
The newness of the SFTR framework for some market participants could see them caught out by its complexity when the first phase of the reporting obligations goes live in April next year
Libor may yet have life beyond 2021
The industry has done a great deal of work towards shifting financial instruments from referencing Libor towards using alternative rates. But such is the scale of the task, many industry sources doubt that the transition will be complete by the end of 2021
The cloud’s systemic implications worry financial regulators
The big cloud firms are rapidly emerging as key infrastructure providers to banks raising questions over whether they should be supervised similarly to clearing houses, for example
Resolving Brexit could help tackle global regulatory fragmentation
Resolving Brexit could be the big breakthrough, which heals regulatory fragmentation, according to one former MEP. The problem is that the Brexit process will drag on for years and remain deeply fractious.
Australian banking scandal gives regtech a big boost
Australia’s recent spate of banking scandals has given its regtech sector a major boost as banks rush to find solutions that will ensure they treat their customers better in the future
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