News Centre

ISDA derivatiViews: Preparing For The Basel III Endgame

Date 25/07/2023

All around the world, banks are getting ready to implement a package of capital requirements for market risk, credit risk and operational risk that will finally complete the Basel III reforms developed in response to the 2008 financial crisis. Within days, US prudential regulators are expected to publish their legislative proposals, following similar proposals in the UK and the EU. As in those jurisdictions, it is critical that the impact of the proposed rules is thoroughly tested and any increase in capital requirements does not disproportionately affect costs for businesses, consumers and investors.

Remarks By US Secretary Of The Treasury Janet L. Yellen At Bilateral Meeting With Minister Of Finance Of Jordan Mohamad Al-Ississ

Date 25/07/2023

It is a great pleasure to welcome Minister of Finance Al-Ississ, Minister of Planning and International Cooperation Toukan, Central Bank Governor Sharkas and Ambassador Kawar to Treasury.

Deutsche Börse Group Posts Significant Earnings Growth In The First Half Of The Year

Date 25/07/2023

Deutsche Börse Group has just published its half-yearly financial report 2023 including the figures for the second quarter. Please scroll down for the link to the entire report.

UK Financial Conduct Authority Statement Following NatWest Board Announcement

Date 25/07/2023

Commenting on today's announcement from the NatWest Board regarding recent allegations, Sheldon Mills, Executive Director, Consumers and Competition said: 'We have raised concerns with NatWest Group and Coutts about the allegations relating to account closures and breach of customer confidentiality since these came to light.

The EBA Consults On Guidelines On The Application Of The Group Capital Test For Investment Firm Groups

Date 25/07/2023

The European Banking Authority (EBA) launched today a consultation on the draft Guidelines on the application of the group capital test for investment firm groups. These Guidelines aim at setting harmonised criteria to address the observed diversity in the application of the group capital test across the EU. In particular, the Guidelines identify criteria to assist Competent Authorities in their assessment of the simplicity of the group structure and the significance of the risk posed to clients and the market. The consultation runs until 25 October 2023.

SEC Names Natasha Vij Greiner And Keith E. Cassidy Interim Acting Co-Directors Of The Division Of Examinations

Date 25/07/2023

The Securities and Exchange Commission today announced that Natasha Vij Greiner and Keith E. Cassidy have been named interim Acting Co-Directors of the Division of Examinations, effective immediately, while Division Director Richard Best is on extended medical leave from the agency.

BIS: Trust Bridges And Money Flows

Date 25/07/2023

Cross-border payments are expensive, slow and opaque, reflecting multiple frictions. These problems are particularly acute for payments between counterparties located in developing economies. In order to improve upon this situation, we must first understand the root causes. Why are cross-border payments harder to complete than domestic payments, and why are payments between counterparties located in developing economies harder than those in more advanced economies? We provide a framework for answering these questions that centres on the fact that modern forms of money depend on credit relationships that require trust.

Inclusion Of The United Arab Emirates On AML Blacklist Requires ESMA To Withdraw The Recognition Decisions Of Three CCPs

Date 25/07/2023

The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has withdrawn as required by EMIR the recognition decisions of the following three central counterparties (“CCPs”) established in the United Arab Emirates (including the Dubai International Financial Centre): 

GERRY WEBER International AG: BaFin Imposes Administrative Fine

Date 25/07/2023

On 12 July 2023, the Federal Financial Supervisory Authority (BaFin) imposed an administrative fine amounting to 112,000 euros on GERRY WEBER International AG. The fine was imposed due to the company’s failure to comply with obligations under the German Securities Trading Act (Wertpapierhandelsgesetz – WpHG). The company failed to publish an announcement about the date from which and the website where ist 2021 annual financial report was made publicly available.

Banks Plan To Issue More Debt Instruments To Counterbalance Expected Decline In Central Bank Funding, The EBA Funding Plans Report Shows

Date 25/07/2023

• Banks’ total assets increased by 1.3% in 2022. Strong loan growth to households and non-financial corporates (NFCs) was offset by a decline in cash balances, related to the Targeted Longer-Term Refinancing Operations (TLTRO) repayments.
• Banks’ reliance on public sector sources of funding is set to fall in 2023, due to TLTRO funds reaching maturity. Most banks have cash and cash balances at central banks that exceed the maturing TLTRO amounts.
• Deposits grew by 4.4% in 2022, and by the end of the year represented 75% of banks’ total funding sources. In 2023, deposit growth is expected to slow down to 2.8% for deposits from households and NFCs.
• Banks plan to issue more debt instruments in the coming years to make up for an expected decline in central bank funding but equally to comply with minimum requirement for own funds and eligible liabilities (MREL) requirements. In 2023, banks plan to increase market-based funding by 5.5%, with a focus on senior unsecured instruments and covered bonds.
• The difference between interest rates for loans to clients and client deposits has increased significantly in 2022 and banks expect it to increase further.