The EU’s market abuse regulation is over two years old and many in the industry believe it is high time that it is reviewed given it has a number of wrinkles that not only make compliance difficult, but risks seeing firms potentially miss some market abuses
FSB sees more work to be done on resolution regimes
Much work has been done in member jurisdictions to build frameworks to resolve failing banks and a variety of approaches are being taken, however, the Financial Stability Board (FSB) still sees scope for improvement.
DSB designated UPI service provider by FSB
The Derivatives Service Bureau (DSB) has been designated as unique product identifier (UPI) service provider by the Financial Stability Board (FSB) at its meeting on April 26 as part of strengthening governance of the global financial system.
AFME CEO and founder to step down
Simon Lewis who founded the Association for Financial Markets in Europe (AFME) in 2010 is stepping down this October when his term expires.
EU banking package could restrict AT1 capital payouts
The recently agreed EU risk reduction banking package could make it harder for global systemically important institutions (G-SIIs) to make payouts on their additional tier 1 (AT1) securities due to a leverage ratio buffer requirement, said Scope Ratings in a report.
Two tested CCPs pass CFTC extreme reverse stress test
A reverse stress test on two central counterparty clearing houses (CCPs), CME Clearing and LCH Ltd, found that they have sufficient pre-funded resources to cover losses if all clearing members with losses defaulted under certain extreme one-day scenarios, the Commodity Futures Trading Commission (CFTC) said.
ARRC issues guidelines due to concerns over fall back language for reference rates
In its second report, the Alternative Reference Rates Committee (ARRC) said it has issued guidelines as it is concerned that most contracts referencing the London interbank offered rate (Libor) may not contain robust enough fall back language in the event the reference rate is no longer available.
Bond diversification may not break 'doom loop' for all European banks
Moves are afoot within the eurozone to force banks to diversify their holdings of bonds for regulatory capital to help end the 'doom loop' between banks and their host countries. However, a new paper argues that such efforts could be counterproductive
Asifma calls on China to make further asset management reforms
Asifma has laid out a series of recommendations covering regulatory clarity, taxation and guidance that it hopes the Chinese authorities will apply to the oversight of foreign asset managers
New paper finds real estate booms have two-phase impact on credit supply
A new paper published by the ECB raises interesting questions about the transmission mechanisms of property bubbles and suggests that they have a potentially distortionary impact on the supply of credit to other parts of the economy
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