News Centre

EBA Proposes Framework For STS Synthetic Securitisation

Date 06/05/2020

The European Banking Authority (EBA) published today its proposals for developing a simple, transparent and standardised (STS) framework for synthetic securitisation. This proposal, which is limited to balance-sheet securitisation, includes a list of criteria to be considered when labelling the synthetic securitisation as ‘STS' and provides the pros and cons of a potential differentiated capital treatment for this type of securitisation.

Banks' Dividends In Covid-19 Times

Date 06/05/2020

Highlights

• Regulatory actions in the current circumstances need to focus on preserving banks' lending activity without jeopardising their solvency. This means that flexibility in capital requirements, including through the use of regulatory buffers, and capital conservation should go hand in hand.
• Basel III provides for automatic distribution constraints when capital falls below specific thresholds. In the current context, this may disincentivise firms from following authorities' recommendations to use capital buffers.
• Blanket distribution restrictions imposed through supervisory action may help address these disincentives to the extent that they are not linked to firms' individual capital positions and thus remove any possible stigma effect.
• Most authorities have undertaken initiatives in relation to banks' distribution policies in the Covid-19 pandemic environment. However, practices across jurisdictions diverge markedly as regards scope and stringency.

EBA Publishes Updated Calculation Tool Of Liquidity Coverage Ratio

Date 06/05/2020

The European Banking Authority (EBA) published today its updated calculation tool of the liquidity coverage ratio (LCR) with the aim to provide additional support for reporting institutions. This excel-based tool takes into account the amendments in the liquidity coverage requirement introduced by Commission Delegated Regulation (EU) 2018/1620 that applies from 30 April 2020. This tool is provided for information purposes only and has no legal value.

CFTC Financial Data for Futures Commission Merchants Update

Date 06/05/2020

Futures commission merchants (FCMs) and retail foreign exchange dealers (RFEDs) must file monthly financial reports with the CFTC's Division of Swap Dealer and Intermediary Oversight (DSIO) within 17 business days after the end of the month. Selected financial information from these reports is published below. The most recent month-end information generally is added within 12 business days after FCMs and RFEDs file their reports, but occasionally may be added later. For example:  The 17th business day filing “due date" for February 28, 2015 financial reports was March 25, 2015.  The 12 business day target for posting these data was April 10, 2015.

FESE: Response Climate Benchmarks Delegated Acts

Date 06/05/2020

The Climate Benchmarks Regulation will bring consistency and clarity to the market for low carbon benchmarks by setting out requirements for ‘Paris-Aligned’ and ‘Climate-Transition’ benchmarks.

ACER Consults On Methodologies For Assessing Electricity Resource Adequacy

Date 06/05/2020

The European Union (EU) Agency for the Cooperation of Energy Regulators (ACER) has launched today a public consultation to decide on the methodologies for assessing whether the EU, as a whole, has sufficient electricity resources to meet its future electricity needs. These methodologies, mandated by the Clean Energy Package legislation, are key in ensuring and improving the reliability of Europe’s electricity supply.

CFTC’s Global Markets Advisory Committee To Meet On May 19

Date 06/05/2020

Commissioner Dawn Stump, the sponsor of the Commodity Futures Trading Commission’s Global Markets Advisory Committee (GMAC), today announced the GMAC will hold a public meeting on Tuesday, May 19, 2020. The meeting will begin at 10:00 a.m. (EDT) and be held via conference call in accordance with the agency’s implementation of social distancing due to the COVID-19 (coronavirus) pandemic.

Borsa Italiana - Monthly Update April 2020

Date 06/05/2020

Click here to download Borsa Italiana's monthly update for April 2020.

FCA’s National And International Response To Coronavirus (Covid-19) And Brexit - Speech Delivered By Nausicaa Delfas, Executive Director Of International, At Deloitte Annual Conduct Risk Conference (Webinar)

Date 06/05/2020

Highlights

• In response to the pandemic, the FCA has been working with partners nationally and internationally to keep markets open and orderly, help firms continue to operate, protect consumers and small businesses, and to maintain high standards of conduct
• It will be important to get the post crisis recovery right, and to leverage off the experience of working through the pandemic
• We continue to prepare for the end of the Brexit transition period. Working closely with the Treasury and the Bank of England, we are doing whatever we can within our remit to prepare for a range of scenarios, and ensure as smooth a transition as possible
• Firms should continue to consider what actions they need to take to be ready for the end of the transition period, and what this will mean for their customers

U.S. Department Of The Treasury: Quarterly Refunding Statement Of Deputy Assistant Secretary For Federal Finance Brian Smith

Date 06/05/2020

The U.S. Department of the Treasury is offering $96 billion of Treasury securities to refund approximately $57 billion of privately-held Treasury notes and bonds maturing on May 15, 2020.  This issuance will raise new cash of approximately $39 billion.