GLEIF opened an office in New Jersey, US, to extend its global reach and appointed Steven A. Joachim as the new Chairperson. Mr. Joachim, who is based in the US, joins GLEIF from the Financial Industry Regulatory Authority (FINRA), where he was Executive Vice President of Transparency Services. An immediate priority for GLEIF will be to support the close collaboration with global banking community to achieve significant benefits of wider LEI usage in banking, beyond regulatory reporting, and the use of the LEI as a foundation for digitizing unique organizational identities under a regulatory umbrella.
The new Americas office of GLEIF is located in New Jersey, in close proximity to the US financial capital, and will support the GLEIF strategy to drive broad voluntary adoption of the LEI worldwide by banks and other financial institutions. The focus of the North America team is to
- Further the organization’s "on-the-ground" engagement and collaboration with U.S. financial institutions to educate on the value LEI delivers beyond regulated use in capital markets
- Champion and support pilot programs for financial institutions wishing to use the LEI more broadly across all financial services business lines, such as trade financing, corporate banking, and payments
Keywords: International, Americas, US, Banking, Insurance, Securities, LEI, Steven A Joachim, GLEIF Americas, Chair, GLEIF
Previous ArticleISDA and Industry Associations Recommend Benchmark Reforms in EU
PRA published the policy statement PS8/21, which contains the final supervisory statement SS3/21 on the PRA approach to supervision of the new and growing non-systemic banks in UK.
EBA published a report that sets out the final draft regulatory technical standards specifying the conditions according to which consolidation shall be carried out in line with Article 18 of the Capital Requirements Regulation (CRR).
EBA updated the list of other systemically important institutions (O-SIIs) in EU.
BCBS published two reports that discuss transmission channels of climate-related risks to the banking system and the measurement methodologies of climate-related financial risks.
UK Authorities (FCA and PRA) welcomed the findings of FSB peer review on the implementation of financial sector remuneration reforms in the UK.
PRA and FCA jointly issued a letter that highlights risks associated with the increasing volumes of deposits that are placed with banks and building societies via deposit aggregators and how to mitigate these risks.
MFSA announced that amendments to the Banking Act, Subsidiary Legislation, and Banking Rules will be issued in the coming months, to transpose the Capital Requirements Directive (CRD5) into the national regulatory framework.
EC finalized the Delegated Regulation 2021/598 that supplements the Capital Requirements Regulation (CRR or 575/2013) and lays out the regulatory technical standards for assigning risk-weights to specialized lending exposures.
OSFI launched a consultation to explore ways to enhance the OSFI assurance over capital, leverage, and liquidity returns for banks and insurers, given the increasing complexity arising from the evolving regulatory reporting framework due to IFRS 17 (Insurance Contracts) standard and Basel III reforms.
ECB published results of the benchmarking analysis of the recovery plan cycle for 2019.