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  • EBA Issues 2020 EU-Wide Stress Test Methodology For Discussion

    Date 26/06/2019

    The European Banking Authority (EBA) published today the 2020 EU-wide stress test draft methodology, templates and template guidance, which will be discussed with the industry. The 2020 exercise will assess EU banks' resilience to an adverse economic shock and inform the 2020 Supervisory Review and Evaluation Process (SREP). The methodology covers all risk areas and builds on the methodology prepared for the 2018 exercise, while improving some aspects based on the lessons learnt. The preliminary list of institutions participating in the exercise as well as the timeline are also released today.

  • IMF Executive Board Modifies PRGT Interest Rate Mechanism And Approves Zero Rates On All Low-Income Country Lending Facilities Through End-June 2021

    Date 26/06/2019

    On May 24, 2019, the Executive Board of the International Monetary Fund (IMF) reviewed the interest rates applicable to concessional credit provided under the PRGT. They considered a proposal to modify the mechanism for setting PRGT interest rates, which would unify the interest rates applicable to loans under the Extended Credit Facility (ECF) and the Standby Credit Facility (SCF), while preserving the zero interest rate on credit outstanding under the Rapid Credit Facility (RCF). The proposed change modestly increases the overall degree of concessionality of PRGT financing while producing moderate additional subsidy costs, which can be financed within the PRGT’s self-sustaining financing envelope in the context of the full LIC facilities reform package also considered on May 24, 2019.

  • SEC Chief Of Staff Lucas Moskowitz To Leave The Agency

    Date 26/06/2019

    The Securities and Exchange Commission today announced that SEC Chief of Staff Lucas Moskowitz will leave the agency in early August and will return to the private sector.

  • CFTC Orders Merrill Lynch Commodities, Inc. To Pay Approximately $25 Million For Spoofing, Manipulation, And Attempted Manipulation In Precious Metals Futures

    Date 26/06/2019

    The Commodity Futures Trading Commission (CFTC) today issued an Order filing and simultaneously settling charges against Merrill Lynch Commodities, Inc. (MLCI), a provisionally registered swap dealer, for spoofing, manipulation, and attempted manipulation over a six-year period with respect to certain precious metals futures contracts traded on the Commodity Exchange, Inc. (COMEX).

  • ESMA Issues Opinions On Product Intervention Measures By Germany, Spain, Bulgaria, Denmark, Latvia And Greece

    Date 26/06/2019

    The European Securities and Markets Authority (ESMA) has today issued eight positive opinions on product intervention measures taken by the National Competent Authorities (NCAs) of Germany, Spain, Bulgaria, Denmark, Latvia and Greece. ESMA’s opinion finds that the proposed measures are justified and proportionate and that it is necessary for NCAs of other Member States to take product intervention measures that are at least as stringent as ESMA’s measures.