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Latest news of financial regulation

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The US agencies issued final rule on credit risk retention

Created
Friday, 21 November 2014

20 November 2014

 

The US agencies issued a final rule that implements the securitization risk retention requirements in the Dodd-Frank Act.

 

Related documents

Summary

Final rule

 

Securities financing transactions: Council agrees transparency rules

Created
Friday, 21 November 2014

20 November 2014

 

 

The Permanent Representatives Committee agreed, on behalf of the Council, its negotiating stance on a draft regulation aimed at improving the transparency of securities lending and repurchase transactions. The regulation would enhance financial stability by ensuring that information on so-called securities financing transactions is efficiently reported to trade repositories and investors in collective investment undertakings. 

The Council’s agreement enables negotiations to start as soon as the negotiating team of the

European Parliament will be entrusted with a mandate.

 

 

Related document

Press release

CFTC launches National Campaign to Protect Consumers from Financial Fraud

Created
Thursday, 20 November 2014

                                                       20 November 2014

 

The U.S. Commodity Futures Trading Commission (CFTC) today launched CFTC SmartCheck, a new national campaign to help investors identify and protect themselves against financial fraud. The comprehensive campaign includes a new website, a national advertising campaign and interactive videos that will help investors spot investment offers that are potentially fraudulent.

CFTC launches National Campaign to Protect Consumers from Financial Fraud

Created
Thursday, 20 November 2014

                                                       20 November 2014

 

The CFTC launched CFTC SmartCheck, a new national campaign to help investors identify and protect themselves against financial fraud. The comprehensive campaign includes a new website, a national advertising campaign and interactive videos that will help investors spot investment offers that are potentially fraudulent.

Related link

SmartCheck

Agencies propose technical corrections and clarifications to the capital rules applicable to advanced approaches banking organizations

Created
Wednesday, 19 November 2014

19 November 2014

 

The Federal Reserve Board, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency proposed clarifications to the revised regulatory capital rules adopted by the agencies in July 2013. The proposal applies only to large internationally active banking organizations that currently determine their regulatory capital ratios under the advanced approaches rule, or may use the advanced approaches rule in the future—generally those with at least $250 billion in total consolidated assets or at least $10 billion in total on-balance sheet foreign exposures. Comments must be submitted within 60 days of publication in the Federal Register.

 

Related documents

Press release

Joint notice of proposed rulemaking

EU Council publishes compromise text on proposed regulation on reporting and transparency of securities financing transactions

Created
Wednesday, 19 November 2014

19 November 2014

 

 

EU Council published general approach on proposed regulation on reporting and transparency of securities financing transactions (SFTs). This Regulation responds to the need to enhance transparency of securities financing markets and thus of the financial system. In order to ensure equivalent conditions of competition and international convergence, this Regulation broadly follows the FSB Recommendations. It creates a Union framework under which information on SFTs can be efficiently reported to trade repositories and investors in collective investment undertakings.

 

Related document

General approach

 

Next step

EP: Vote on draft report in ECON Committee, 23 March 2015

EU Council: agreement on a general approach

 

EP’s ECON Committee publishes draft report on proposed regulation on Money Market Funds

Created
Wednesday, 19 November 2014

19 November 2014

 

EP’s ECON Committee published draft report on proposed regulation on Money Market Funds. The rapporteur fully recognises the role MMFs play as a short term cash management instrument for investors as well as for borrowers and she also appreciates that a significant proportion of industries, local authorities, charities and foundations make use of MMFs to manage their excess of cash. Therefore her objective is to have a well regulated, supervised and transparent European MMF market in line with the political aim to boost economic growth and forge a capital markets union, to maximise the benefits of capital markets.

 

Related document

Draft report

 

Next step

EP: Vote on draft report in ECON Committee, 23 February 2015

EU Council: agreement on a general approach

FINMA amends "credit rating agencies" circular

Created
Wednesday, 19 November 2014

19 November 2014

 

 

The Swiss Financial Market Supervisory Authority FINMA is amending FINMA Circular 2012/1 "Credit rating agencies" in three points. These formal changes have been made necessary by regulatory developments and will enter into force on 1 January 2015.

 

Related document

Press release

The Financial Supervisory Service (FSS) publishes the Relationship-based Lending to SMEs

Created
Wednesday, 19 November 2014

19 November 2014

 

The Financial Supervisory Service (FSS) announced that an innovative bank lending model based on long-term relationship with small-and medium-sized enterprises (SMEs) will be implemented from November 24, 2014, in an attempt to change the way bank loans are extended to SMEs, rather than focusing on collateral or guarantee requirements.

 

Related document

Press release

Commission Delegated Regulation on the specification of the methodology for the identification of global systemically important institutions published in the O.J.E.U.

Created
Tuesday, 18 November 2014

18 November 2014

 

Commission Delegated Regulation (EU) No 1222/2014 supplementing Directive 2013/36/EU of the EP and of the Council with regard to RTS for the specification of the methodology for the identification of global systemically important institutions and for the definition of subcategories of global sistemically important institutions has been published in the Official Journal of EU.

This Regulation shall enter into force on 5th December. It shall apply from 1 January 2015.

 

 

Related document

Commission Delegated Regulation (EU) No 1222/2014

PRIIPs: ESAs share initial views on consumer-friendly key information documents on investment products across the EU

Created
Tuesday, 18 November 2014

18 November 2014

 

The ESAs published a discussion paper on key information documents (KIDs) designed to help retail investors in the EU better understand and compare packaged retail and insurance-based investment products (PRIIPs) across the EU.

Consultation will close on 17 February 2015.

 

Related documents

Press release

Joint Discussion Paper

IOSCO consults on post-trade transparency in the credit default swaps market

Created
Tuesday, 18 November 2014

18 November 2014

 

 

The IOSCO published consultation report  which seeks to analyze the potential impact of mandatory post-trade transparency in the credit default swaps  market.

Consultation will close on 15 February 2015.

 

Related documents

Press release

Consultation paper

G20 Leaders’ Summit publishes conclusions

Created
Tuesday, 18 November 2014

18 November 2014

 

G20 Leaders Summit published communiquè on priorities and outcomes following the G20 Leaders Summit in Brisbane on 15-16 November 2014.

 

Related document

Communiquè

Financial Markets: FSB publishes standards and processes for global securities financing data collection and aggregation

Created
Friday, 14 November 2014

14 November 2014

 

The FSB published for public consultation its report on standards and processes for global securities financing data collection and aggregation.The proposed standards and processes in the consultative document define the data elements for repos, securities lending and margin lending that national/regional authorities will be asked to report as aggregates to the FSB for financial stability purposes.

The consultation will run until 12 February 2015.

 

Related documents

Press release

Consultative document

G20 Leaders' Summit: IOSCO publishes reports on implementation of incentive alignment recommendations for securitisation and regulation of money market funds

Created
Friday, 14 November 2014

14 November 2014

 

The IOSCO published its reports to the G20 Leaders' Summit on the key preliminary findings of the peer review of implementation of incentive alignment recommendations for securitisation and the peer review of regulation of money market funds.

 

 

Related documents

Peer Review of Implementation of Incentive Alignment Recommendations for Securitisation

Peer Review of Regulation of Money Market Funds

G20 Leaders' Summit: FSB publishes reports to G20 Brisbane Summit on Progress in Financial Regulatory Reforms

Created
Friday, 14 November 2014

EBA consults on guidelines on the use of the bail-in power

Created
Wednesday, 12 November 2014

 14 November 2014

 

The EBA lunched two public consultations on (i) Guidelines on the treatment of shareholders when applying the bail-in tool or the write down or conversion of capital instruments and (ii) Guidelines on when and how different conversion rates from debt to equity should be set for different types of liability.

 

Both consultations will run until 6 February 2015.

 

Related documents

Press release

CP on Guidelines on conversion rates

CP on Guidelines on shareholders treatment in bail-in

EBA consults on assessment methodology for IRB approach

Created
Wednesday, 12 November 2014

14 November 2014

 

The EBA launched a consultation on its draft Regulatory Technical Standards (RTS) on assessment methodology for internal ratings-based (IRB) approach. These draft RTS are a key component of the EBA's work to ensure consistency in models outputs and comparability of risk-weighted exposures and will contribute to harmonise the supervisory assessment methodology across all EU Member States.

The consultation will run until 12 March 2015.

 

Related documents

Press release

Consultation paper

BCBS publishes reports on measures to reduce risk-weighted asset variability and on Basel III implementation to G20 Leaders

Created
Wednesday, 12 November 2014

basel

12 November 2014

 

The BCBS published two reports on measures to reduce risk-weighted asset variability and on Basel III implementation to G20 Leaders. Studies conducted by the Basel Committee on banks' risk-weighting of assets confirmed that there are material variances in banks' regulatory capital ratios that arise from factors other than differences in the riskiness of banks' portfolios. These variances undermine confidence in capital ratios. In response, the Committee initiated a number of policy and supervisory actions to address excessive variability in risk-weighted assets that are based on a bank's internal models.

 

Related documents

Press release

Report on measures to reduce excessive variability in banks' regulatory capital ratios

Update on the implementation of Basel III standards

FSB reports to G20 on progress in reforming resolution regimes and resolution planning

Created
Wednesday, 12 November 2014

12 November 2014

 

The FSB published its report to the G20 on progress in reform of resolution regimes and resolution planning for globally systemically important financial institutions (G-SIFIs). FSB jurisdictions have made continued progress in adopting the powers and tools needed to resolve failing banks. Few jurisdictions have in place resolution regimes that are fully compliant with the Key Attributes and that also provide adequate powers for resolving failures in the non-bank financial sectors. The FSB will continue monitoring implementation of the Key Attributes to support implementation across all financial sectors, including for financial market infrastructures, insurers and firms that hold client assets.

 

Related documents

Press release

Report

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