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Date 30/09/2022
The EBA Publishes Its Report On The First Mandatory Exercise On Basel III Full Implementation Impact
The European Banking Authority (EBA) today published its first mandatory Basel III Monitoring Report which assesses the impact that Basel III full implementation will have on EU banks in 2028. According to this assessment, which uses a significantly larger sample than in previous years and applies the same methodology as the Basel Committee on Banking Supervision (BCBS), the full Basel III implementation would result in an average increase of 15.0% of the current Tier 1 minimum required capital of EU banks. To comply with the new framework, EU banks would need EUR 1.2 billion of additional Tier 1 capital. The overall impact includes the economic impact of the Covid-19 pandemic on participating banks that materialised up to December 2021, the reference date of this Report. The Report also includes a separate Annex on the impact of the EU Commission proposal for the EU implementation under the Capital Requirements Regulation (CRR3).
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Date 30/09/2022
EBA Releases The Technical Package For Phase 3 Of Its 3.2 Reporting Framework
The European Banking Authority (EBA) today published the technical package for phase 3 of version 3.2 of its reporting framework. The technical package supports the implementation of the updated reporting framework by providing standard specifications and includes the validation rules, the Data Point Model (DPM) and the XBRL taxonomies for version 3.2.
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Date 30/09/2022
Nigerian Exchange Group Holds 61st Annual General Meeting
The Nigerian Exchange Group Plc. ("NGX Group" or "the Company" or "the Group") held its 61st Annual General Meeting (AGM) in Lagos on Friday, 30 September 2022, where shareholders approved resolutions by the company’s Board of Directors. Mr. Apollos Ikpobe and Dr. Okechukwu Itanyi retired by rotation and were re-elected as non-executive directors. Professor Enase Okonedo’s resignation was earlier approved by the board and as such she was not presented for re-election. Other resolutions adopted at the AGM include the appointment of Ernst & Young as NGX Group's external auditors; the Board's authority to fix the Audit Company's remuneration; the disclosure of NGX Group's executive remuneration; and the re-election of the Statutory Audit Committee.
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Date 30/09/2022
SEC Charges Two Canadian Software Engineers With Insider Trading
The Securities and Exchange Commission today announced insider trading charges against two Canadian software engineers who made $1.6 million by trading ahead of non-public, market-moving financial information.
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Date 30/09/2022
Large Bank Supervision And Regulation, Federal Reserve Governor Michelle W. Bowman, At The Institute Of International Finance (IIF) Event: In Conversation With Michelle Bowman, Washington, D.C. (virtual)
Today, I would like to talk about the future of supervision and regulation of the largest banks, which changed significantly after the financial crisis 14 years ago and has evolved more gradually over the past 5 years. As the backdrop for this look into the future, it is important to recognize that this recent past for supervision and regulation has been a success, resulting in a banking system that is safer, stronger, better capitalized, and more resilient. This is particularly true for oversight of the largest banks, including global systemically important banks (GSIBs), and their central role in the financial system. As supervision and regulation have been refined in recent years, the largest banks have maintained high levels of capital, and their resilience has been repeatedly confirmed by both supervisory and real-life stress tests. Most notably, the U.S. financial system faced the onset of the pandemic in the spring of 2020, which disrupted financial markets and raised fears of a severe crisis. During this time, banks performed very well, continuing to keep credit flowing throughout the financial system as governments and central banks responded to the crisis, setting the stage for a rapid recovery from the sharpest economic contraction that the U.S. economy has ever experienced.
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Date 30/09/2022
Basel III Capital Ratios For Largest Global Banks Rose Last Year To The Highest Level Since 2012, Latest Basel III Monitoring Exercise Shows
- Initial Basel III capital ratios increased to the highest level since the beginning of the exercise in 2012, and banks' profits remained at or near record high levels across all regions in H2 2021.
- The latest monitoring report includes special features on banks' exposures to cryptoassets, and on capital buffers and total CET1 requirements.
- Dashboards now provide an interactive visualisation of the results for market, operational, counterparty credit and credit valuation adjustment risks.
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Date 30/09/2022
BIS: Historical Monetary And Financial Statistics For Policymakers: Towards A Unified Framework
n recent years, many central banks have engaged in data projects aimed at the collection and documentation of historical monetary and financial statistics (HMFS) for their respective countries.
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Date 30/09/2022
EACH Responds To The ESMA Consultation On The Clearing And Derivative Trading Obligations In View Of The 2022 Status Of The Benchmark Transition
The European Association of CCP Clearing Houses (EACH) has responded to the ESMA consultation on the clearing and derivative trading obligations in view of the 2022 status of the benchmark transition.
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Date 30/09/2022
US Treasury Imposes Swift And Severe Costs On Russia For Putin’s Purported Annexation Of Regions Of Ukraine - Treasury Sanctions International Suppliers For Supporting Russia’s Defense Sector And Warns Of Costs For Those Outside Russia Who Provide Political Or Economic Support For Russia’s Purported Annexation
Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated 14 persons in Russia’s military-industrial complex, including two international suppliers, three key leaders of Russia’s financial infrastructure, immediate family members of some of senior Russian officials, and 278 members of Russia’s legislature for enabling Russia’s sham referenda and attempt to annex sovereign Ukrainian territory. In addition, OFAC issued new guidance that warns of the heightened sanctions risk that international actors outside of Russia would face for providing political or economic support to Russia as a result of its illegal attempts to change the status of Ukrainian territory.
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Date 30/09/2022
NSE Indices Index Dashboard For The Month Ended September 2022
Clik here to download the 'Index Dashboard' for the month ended September 2022.
