Featured Product

    US Treasury Issues Statement on US-EU Financial Regulatory Forum

    July 03, 2019

    US Treasury published a joint statement based on the meeting of the U.S.-EU Joint Financial Regulatory Forum in June 2019 in Brussels. As part of the ongoing regulatory dialog, participants from U.S. and EU institutions discussed the financial supervisory and regulatory developments, along with the priorities for future. Views were exchanged on various developments in the banking sector, insurance sector, and capital markets, along with the potential implications of Brexit.

    The following are the key highlights of discussions:

    • In the area of banking, participants discussed implementation of the final Basel III reforms, recent developments regarding host-country regulation of foreign banks, and resolution planning for global systemically important banks. For the United States, topics included the recent U.S. proposal on foreign banking organizations and the treatment of foreign funds under the Volcker Rule. For EU, topics included elements for the completion of the Banking Union, including risk-reduction and risk-sharing.
    • Regarding capital markets, relevant participants discussed supervision and regulation of cross-border activities, including European Market Infrastructure Regulation (EMIR) 2.2 in EU, potential proposals regarding the derivatives clearing organization regulations of CFTC, and the proposed cross-border guidance of SEC for security-based swap dealers in the United States. Participants also exchanged views on margin requirements for non-centrally cleared derivatives, on payments for investment research, and on the transition to new reference rates.
    • Participants took stock of insurance issues and of ongoing discussions in multilateral fora on market fragmentation. 
    • Additional topics included the monitoring of leveraged lending, an update on the EU proposal for a regulation on taxonomy of environmentally sustainable economic activities, the EU regulation on sustainability-related disclosures in the financial sector, and the development of payment services in euro. 

    EU participants included representatives of EC, EBA, ESMA, EIOPA, ECB, Single Supervisory Mechanism (SSM), and SRB. U.S. participants included officials from the U.S. Treasury and staff from independent regulatory agencies, including FED, CFTC, FDIC, SEC, and OCC. Participants will continue to engage on these topics as well as on other topics of mutual interest ahead of the next Forum meeting, which is expected to take place in Washington in the winter of 2019-2020.


    Related Link: Press Release

     

    Keywords: Americas, Europe, US, EU, Banking, Securities, Insurance, Basel III, Resolution Planning, Cross-Border Activities, Margin Requirements, Volcker Rule, Leveraged Lending, US Treasury

    Featured Experts
    Related Articles
    News

    APRA Publishes Results of Climate Risk Self-Assessment Survey

    The Australian Prudential Regulation Authority (APRA) has published the findings of its latest climate risk self-assessment survey conducted across the banking, insurance, and superannuation industries.

    August 04, 2022 WebPage Regulatory News
    News

    ACPR Publishes Updates Related to CRD IV and Covered Bonds

    The French Prudential Supervisory Authority (ACPR) published a notice related to the methods for calculating and publishing prudential ratios under the Capital Requirements Directive (CRD IV) and the minimum requirement for own funds and eligible liabilities (MREL).

    August 03, 2022 WebPage Regulatory News
    News

    BIS Paper Contributes to Debate on Regulating NBFIs and Big Techs

    The Financial Stability Institute (FSI) of the Bank for International Settlements recently published a paper proposing a framework for classifying financial stability regulation as either entity-based or activity-based.

    August 03, 2022 WebPage Regulatory News
    News

    EIOPA Publishes Guidance on Climate Change Scenarios in ORSA

    The European Insurance and Occupational Pension Authority (EIOPA) published the risk dashboard based on Solvency II data and the final version of the application guidance on climate change materiality assessments and climate change scenarios in the Own Risk and Solvency Assessment (ORSA).

    August 02, 2022 WebPage Regulatory News
    News

    EBA and ECB Respond to Proposals on Sustainability Disclosures

    The European Banking Authority (EBA) and the European Central Bank (ECB) published their responses to the consultations of the International Sustainability Standards Board (ISSB) and the European Financial Reporting Advisory Group (EFRAG) on sustainability-related disclosure standards.

    August 01, 2022 WebPage Regulatory News
    News

    BIS Report Notes Existing Gaps in Climate Risk Data at Central Banks

    A Consultative Group on Risk Management (CGRM) at the Bank for International Settlements (BIS) published a report that examines incorporation of climate risks into the international reserve management framework.

    July 29, 2022 WebPage Regulatory News
    News

    EBA Publishes Multiple Regulatory Updates for Regulated Entities

    The European Banking Authority (EBA) published the final guidelines on liquidity requirements exemption for investment firms, updated version of its 5.2 filing rules document for supervisory reporting, and Single Rulebook Question and Answer (Q&A) updates in July 2022.

    July 29, 2022 WebPage Regulatory News
    News

    EIOPA Issues SII Taxonomy and Guide on Sustainability Preferences

    The European Insurance and Occupational Pensions Authority (EIOPA) published Version 2.8.0 of the Solvency II data point model (DPM) and XBRL taxonomy.

    July 29, 2022 WebPage Regulatory News
    News

    EESC Opines on Proposals on CRR and European Single Access Point

    The European Union published, in the Official Journal of the European Union, an opinion from the European Economic and Social Committee (EESC); the opinion is on the proposal for a regulation to amend the Capital Requirements Regulation (CRR).

    July 29, 2022 WebPage Regulatory News
    News

    HM Treasury Publishes Multiple Regulatory Updates in July 2022

    HM Treasury published a draft statutory instrument titled “The Financial Services (Miscellaneous Amendments) (EU Exit) Regulations 2022,” along with the related explanatory memorandum and impact assessment.

    July 29, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8423