Featured Product

    BoE Holds off on Liquidity BES; UK Joins Sustainable Finance Platform

    February 03, 2021

    BoE has decided that it will not restart the 2019 liquidity Biennial Exploratory Scenario (BES) exercise. In March 2020, BoE paused the 2019 liquidity BES to alleviate burdens on core treasury staff at the participating banks. BoE uses the BES to explore the potential impact of risks that are not covered by the annual solvency stress tests of large UK banks. The 2019 test focused on how banks would respond to a severe liquidity stress. Insights from the liquidity BES have already helped to shape aspects of the BoE’s response to the impact of COVID-19 pandemic. In addition, HM Treasury announced that UK has joined the International Platform on Sustainable Finance (IPSF).

    The UK Chancellor Rishi Sunak underscored the commitment of UK to strengthening international cooperation on environmentally sustainable finance by becoming a signatory to the Joint Statement on the IPSF. UK will contribute to the goals of IPSF to scale up the mobilization of private capital toward environmentally sustainable finance at the global level and promote integrated markets for environmentally sustainable finance, in an effort to deliver on the domestic and international commitments to tackle climate change. IPSF is a multilateral forum of dialog between policymakers that focuses on initiatives in the areas of taxonomies, disclosures, standards, and labels, which are fundamental for investors worldwide to identify and seize investment opportunities that truly contribute to climate and environmental objectives. IPSF aims to exchange and spread information to promote best practices in environmentally sustainable finance; identify barriers and opportunities to help scale up environmentally sustainable finance internationally; and enhance international coordination on sustainable finance issues, while respecting national and regional contexts.

     

    Related Links

    Keywords: Europe, UK, Banking, Insurance, Securities, Sustainable Finance, IPSF, Climate Change Risk, ESG, Biennial Exploratory Scenario Exercise, Stress Testing, Liquidity Risk, BoE

    Featured Experts
    Related Articles
    News

    APRA Sets LAC for D-SIBs, Proposes to Enhance Crisis Preparedness

    APRA issued a letter on the loss-absorbing capacity (LAC) requirements for domestic systemically important banks (D-SIBs) and published a discussion paper, along with the proposed the prudential standards on financial contingency planning (CPS 190) and resolution planning (CPS 900).

    December 02, 2021 WebPage Regulatory News
    News

    EC to Review Macro-Prudential Rules while ESRB Assesses Policy Stance

    The European Commission (EC) launched a call for evidence, until March 18, 2022, as part of a comprehensive review of the macro-prudential rules for the banking sector under the Capital Requirements Regulation (CRR) and Directive (CRD IV).

    December 01, 2021 WebPage Regulatory News
    News

    FSB Sets Out Good Practices for Crisis Management Groups

    The Financial Stability Board (FSB) published a report that sets out good practices for crisis management groups.

    November 30, 2021 WebPage Regulatory News
    News

    APRA Penalizes Heritage Bank for Incorrect Reporting of Capital

    The Australian Prudential Regulation Authority (APRA) found that Heritage Bank Limited had incorrectly reported capital because of weaknesses in operational risk and compliance frameworks, although the bank did not breach minimum prudential capital ratios at any point and remains well-capitalized.

    November 29, 2021 WebPage Regulatory News
    News

    OSFI Releases Annual Report 2021-2022

    The Office of the Superintendent of Financial Institutions (OSFI) released the annual report for 2020-2021.

    November 29, 2021 WebPage Regulatory News
    News

    OSFI Updates Timeline for Implementation of Certain Basel Rules

    Through a letter addressed to the banking sector entities, the Office of the Superintendent of Financial Institutions (OSFI) announced deferral of the domestic implementation of the final Basel III reforms from the first to the second quarter of 2023.

    November 29, 2021 WebPage Regulatory News
    News

    EC Defers Adoption of Regulatory Standards for Disclosures Under SFDR

    EIOPA recently published a letter in which EC is informing the European Parliament and Council that it could not adopt the set of draft regulatory technical standards for disclosures under the Sustainable Finance Disclosure Regulation (SFDR) within the stipulated three-month period, given their length and technical detail.

    November 29, 2021 WebPage Regulatory News
    News

    FCA Releases MIFIDPRU Application Forms and Third Set of Rules on IFPR

    The Financial Conduct Authority (FCA) published the third in a series of policy statements that set out rules to introduce the UK Investment Firm Prudential Regime (IFPR), which will take effect on January 01, 2022.

    November 29, 2021 WebPage Regulatory News
    News

    APRA Finalizes Capital Adequacy Standards for Banks

    The Australian Prudential Regulation Authority (APRA) published, along with a summary of its response to the consultation feedback, an information paper that summarizes the finalized capital framework that is in line with the internationally agreed Basel III requirements for banks.

    November 29, 2021 WebPage Regulatory News
    News

    CPMI-IOSCO Seek Comments on Access to Central Clearing and Portability

    The Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) issued a consultative report focusing on access to central counterparty (CCP) clearing and client-position portability.

    November 29, 2021 WebPage Regulatory News
    RESULTS 1 - 10 OF 7751