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EBA Says That Core Funding Ratio Cannot Replace NSFR When Assessing Funding Risk

Date 08/09/2016

The European Banking Authority (EBA) published today a Report analysing the core funding ratio across the EU. The Report is in response to a request from the European Commission to explore the possibilities of the core stable funding ratio (CFR) as a potential alternative metrics for the assessment of EU banks' funding risk, taking into account proportionality. The Report concludes that, overall, it would be misleading to rely only on the CFR to assess banks' funding needs because, unlike the Net Stable Funding Ratio (NSFR), the CFR does not look at the whole balance sheet of a bank and, therefore, cannot fully assess a potential funding gap. This Report is based on the same QIS data used for the NSFR Report published in December 2015.
Testimony Of Treasury Department Assistant General Counsel For Enforcement And Intelligence Paul Ahern Before The House Committee On Financial Services Subcommittee On Oversight And Investigations

Date 08/09/2016

Chairman Duffy, Ranking Member Green, thank you for inviting me to testify today. I am pleased to be here alongside my colleagues from the State Department and the Justice Department. My name is Paul Ahern and I am the Assistant General Counsel for Enforcement and Intelligence at the Treasury Department.
Euronext Announces Quarterly Review Results Of The BEL 20®, BEL Mid® And BEL Small®

Date 08/09/2016

Euronext today announced the results of the quarterly review of the BEL 20®, BEL Mid® and BEL Small®. The changes will be effective from Monday 19 September 2016.
Greg Wood Joins FIA As SVP Of Global Industry Operations & Technology

Date 08/09/2016

Walt Lukken, president and CEO of FIA, announcedthat Greg Wood has been hired as the Senior Vice President of Global Industry Operations & Technology. Wood will help lead the strategic direction of FIA by developing and maintaining key strategic relationships with various constituencies in the industry; identifying and managing member and industry operational, execution and market structure issues; and guiding the development of FIA’s operational and technical solutions.
ECB: Introductory Statement To The Press Conference: Mario Draghi, President Of The ECB, Vítor Constâncio, Vice-President Of The ECB

Date 08/09/2016

Ladies and gentlemen, the Vice-President and I are very pleased to welcome you to our press conference. We will now report on the outcome of today’s meeting of the Governing Council, which was also attended by the Commission Vice-President, Mr Dombrovskis.

Statement Of CFTC Commissioner J. Christopher Giancarlo On The Comparability Determination For Japan: Margin Requirements For Uncleared Swaps For Swap Dealers And Major Swap Participants

Date 08/09/2016

When the Commission issued its rule addressing the cross-border application of margin requirements for uncleared swaps in May of this year I expressed my disagreement with the approach the Commission established as overly complex and unduly narrow. I also expressed my concern that the Commission’s “element-by-element” methodology for determining when substituted compliance with a foreign regulator’s margin regime would be permitted is contrary to the principles-based, holistic analysis the Commission has used in the past in certain circumstances and could result in an impracticable patchwork of U.S. and foreign regulations for cross-border transactions.
ECB: Monetary Policy Decisions

Date 08/09/2016

At today’s meeting the Governing Council of the ECB decided that the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged at 0.00%, 0.25% and -0.40% respectively. The Governing Council continues to expect the key ECB interest rates to remain at present or lower levels for an extended period of time, and well past the horizon of the net asset purchases.
Concurring Statement Of CFTC Commissioner Sharon Y. Bowen Regarding System Safeguards Testing Requirements

Date 08/09/2016

I will be voting yes on both systems safeguards rules. There is not much more to say than what I said when these rules were proposed on December 10, 2015.1 Cybersecurity is a top concern for American companies, especially financial firms. These rules are a good step forward in addressing these concerns.
IPC Named To The 2016 IDC Financial Insights FinTech Rankings - Ranking Reflects IPC's Leading Role In Transformation Of Financial Markets Technology Solutions

Date 08/09/2016

IPC Systems, Inc., a leading global financial markets technology and service provider, today announced the company is ranked number 33 on the 2016 IDC Financial Insights FinTech Rankings Top 100.
European Parliament Appoints Guy Verhofstadt As Representative On Brexit Matters

Date 08/09/2016

The Conference of Presidents today appointed Guy Verhofstadt (ALDE, BE) as European Parliament point man for Brexit negotiations.