WORD OF THE DAY® – Clean-Up Call
The value of European banking M&A hits its highest point in a decade as lenders hunt for growth across the continent - A potential ramping-up in European banking M&A has become a hot topic as a lower net interest margin...more
The European Commission has launched a targeted consultation on a possible digital euro. The EU is considering introducing a digital euro for retail payments, which would be available alongside cash. A decision has not yet...more
"It can‘t go on like this!" This statement is not only made by the young people who pass by the windows of our office every Friday morning. In fact, this statement was already made binding by the Paris Climate Change...more
26 February - HM Treasury published a report setting out the findings of the Kalifa Review of UK FinTech. The Financial Conduct Authority (“FCA”) published Handbook Notice 85, which sets out changes to the FCA Handbook...more
The European Central Bank has published its final Guide on the assessment methodology it will use to examine: (i) the internal model methods banks use to calculate exposures to counterparty credit risk; and (ii) the advanced...more
30 July - The Financial Conduct Authority (“FCA”) updated its webpage on the High Court business interruption insurance test case. The Prudential Regulation Authority (“PRA”) published a consultation paper (CP11/20)...more
COVID-19: EBA extends application date of guidelines on moratoria on loan repayments - On 18 June 2020, the European Banking Authority (EBA) announced that it is extending the application date of its guidelines on...more
3 February - The European Banking Authority (“EBA”) published a report on the benchmarking of diversity practices in credit institutions and investment firms under the CRD IV Directive (2013/36/EC)....more
BREXIT - ECB on no-deal Brexit - On 28 August, the ECB published the transcript of an interview (dated 15 August) with by Andrea Enria, Supervisory Board Chair of the ECB. In the interview, among other things, Mr Enria...more
On November 28, the European Commission published a communication setting out its third progress report (COM(2018) 766 final) in reducing non-performing loans (“NPLs“) and further risk reduction in the banking union....more
3 April - The Financial Conduct Authority ("FCA") published a press release, warning that it intends to take action against general insurance firms that fail to properly implement the rules aimed at increasing...more
2 May - The FCA published its Policy Statement on the FCA's disclosure rules following application of PRIIPs Regulation (PS17/6). The Policy Statement sets out how the FCA's disclosure requirements will change to reflect...more
On February 23, 2017, the European Banking Authority (“EBA“) published a report setting out its final draft regulatory technical standards (“RTS“) on strong customer authentication and common and secure communication under...more
The FCA and PRA announced changes to enforcement process with the aim of strengthening the transparency and effectiveness of enforcement decision-making processes. Some of the changes have already come into force, the rest...more
The European Commission published proposals to amend the 4th Anti-money Laundering Directive, to bring crypto-currency exchanges and wallet providers within scope, in early July 2016. The European Banking Authority...more
ECB Publishes Public Consultation - The European Central Bank ("ECB") has published a Public Consultation on a draft Addendum to the ECB Guide on options and discretions available in Union law. ...more
On 30 September 2015, the European Commission (the “Commission”) published a proposal for a regulation (the “Proposed Regulation”)1 intended to harmonise existing EU laws applying to securitisations (including proposed...more