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  • Statement On Recent And Upcoming Regulation Best Interest Examinations From The SEC Division Of Examinations, Division Of Examinations Staff

    Date 21/12/2020

    [1]Regulation Best Interest established a new, substantially elevated standard of conduct under the Exchange Act for broker-dealers and associated persons of a broker-dealer (collectively “broker-dealers” or “firms”).[2]  After Regulation Best Interest’s June 30, 2020 compliance date, the Division of Examinations (“Division”) (formerly the “Office of Compliance Inspections and Examinations”) launched examinations to assess the Regulation Best Interest implementation efforts of broker-dealers.  Division staff has assessed the results of its initial Regulation Best Interest examinations and now that approximately six months have passed since the Regulation Best Interest compliance date, the Division intends to begin its next phase by conducting more focused examinations as outlined below beginning in January 2021.  As part of this effort, Division staff will examine whether broker-dealers have written policies and procedures and systems in place to achieve compliance with the Regulation.

  • Finansinspektionen: Households’ Finances And Financial Literacy 2020

    Date 21/12/2020

    Single-adult households with children continue to have a more difficult financial situation than other households. FI has measured households’ financial literacy and found that it has improved in almost all areas compared to previous surveys.

  • Interview: It's About Time To Access The Benefits Of Listed FX - Barclays And DZ PRIVATBANK S.A. To Provide Union Investment Access To Eurex FX

    Date 21/12/2020

    Listed FX volumes and open interest are continuing to grow at Eurex. With a strong December roll, the exchange traded more than 600,000 futures contracts in 2020 despite the COVID-19 crisis. Progress is also visible in market access. Most recently, Barclays and DZ PRIVATBANK S.A. provided Union Investment access to Eurex FX.

  • BIS: Forecasting Expected And Unexpected Losses

    Date 21/12/2020

    Summary

    Focus

    To align banks' loss-absorbing resources with actual risks, new regulation features forward-looking elements. Namely, recently adopted provisioning standards seek to align the amount of assets that banks write down with the level of expected future losses (EL), which may vary over time. In parallel, capital requirements are set to generate resources for time-varying unexpected losses (UL), or the extent to which EL may be exceeded in extreme scenarios.

  • EBA Provides Additional Clarity On The Implementation Of Selected COVID-19 Policies

    Date 21/12/2020

    The European Banking Authority (EBA) published today additional clarifications on the application of the prudential framework in response to issues raised as a consequence of the COVID-19 pandemic. These clarifications update the FAQ section of the EBA Report on COVID-19 implementation policies published on 7 August. They mainly cover the EBA Guidelines on moratoria and COVID-19 reporting, operational risk, downturn LGD estimation and the credit risk mitigation framework. This Report is part of the EBA’s wider monitoring of the implementation of COVID-19 policies as well as of the application of existing policies under these exceptional circumstances.