New EU legislative requirements will reshape how non-EU (including European Economic Area) banks service EU clients on a cross-border basis. In this note we summarise the new regime, its implications for firms providing...more
The EU is harmonising the rules on the prudential supervision of EU branches of non-EU banks under CRD VI. The new EU-wide third country branch regime will introduce minimum requirements including capital and liquidity...more
1/26/2024
/ Banking Sector ,
Capital Markets ,
Capital Requirements ,
Capital Requirements Regulation (CRR) ,
Cross-Border ,
EU ,
European Banking Authority (EBA) ,
Governance Standards ,
Grandfathering Rules ,
Intergovernmental Agreements ,
Liquidity ,
NCAs ,
Outsourcing ,
Recordkeeping Requirements ,
Reporting Requirements ,
Third Country Entities (TCEs)
Final provisions on cross-border banking services in the EU published -
CRD VI will bring in uniform minimum prudential requirements for third country branches providing banking services in the EU and, more importantly,...more
1/26/2024
/ Banking Sector ,
Basel III ,
Capital Requirements Regulation (CRR) ,
Credit Institutions ,
Cross-Border ,
EU ,
European Commission ,
Final Rules ,
Grandfathering Rules ,
Investment ,
Jurisdiction ,
Liquidity ,
Luxembourg ,
MiFID ,
New Rules ,
Prudential Standards ,
Reverse Solicitation
The CRDVI proposals appear to have taken something of a back seat for firms following the Council’s compromise text. Following the Commission proposal (the Proposal - discussed here) and the Council compromise text (the...more
On 22 September, just two months after the Financial Services and Markets Bill (FSM Bill) was introduced to Parliament, the government introduced the Retained EU Law (Revocation and Reform) Bill (the Brexit Freedoms Bill). ...more
2022 looks set to be another year dominated by regulatory reform for financial services firms. This document considers a number of key wholesale market developments including the latest on the MiFID Review and other financial...more
As part of the proposed Banking Package (CRDVI), the European Commission has proposed a harmonised EU regulatory framework for third country bank branches.
...more
The Brexit engines at HM Treasury, the FCA, PRA and Bank of England are responding admirably to the challenge posed by Brexit to ensure that the UK has a continuing, robust and effective legal regime once the currently...more