Structural Reform

Tue 01 Jan, 2019

Key provisions and secondary legislation come into force

Fri 21 Jul, 2017

End of conformance period for banking entities to conform their ownership interests in, and sponsorship of, certain collateralised loan obligations (CLOs)

Sat 31 Dec, 2016

Metrics reporting requirement threshold lowered to  USD 10 billion in trading assets and liabilities. No metrics reporting requirement for a banking entity that does not engage in activities covered by the Volcker Rule.

Sat 30 Apr, 2016

Metrics reporting requirement threshold lowered to  USD 25 billion in trading assets and liabilities.

Fri 18 Mar, 2016

Deadline to transpose the UCITS V Directive into national law

Fri 18 Sep, 2015

PRA publish consultation paper on approach to ring-fencing transfer schemes (CP33/15)

Fri 21 Aug, 2015

Deadline for SIPS designated on 21 August 2014 to comply with Regulation on oversight requirements for SIPS 

Tue 21 Jul, 2015

End of conformance period, unless extended for another year by the FRB. The banking entities covered by the Volcker Rule will be required to fully conform their activities and investments to the statute and regulations. (Except for CLOs – 21 July 2017) 

Tue 21 Jul, 2015

Deadline to adopt a compliance program, unless the banking entity does not engage in activities covered by the Volcker Rule. Light, standard or enhanced compliance program depending on the total consolidated assets.

Fri 01 May, 2015

Government’s proposed deadline for secondary legislation to be passed

Thu 01 Jan, 2015

T+2 settlement cycle should be mandatory under Regulation on improving securities settlement and regulating central securities depositories (CSDs) (Expected)

Thu 01 Jan, 2015

EU Commission to publish a proposal on recovery and resolution for financial market infrastructure (CCPs)(expected)

Mon 06 Oct, 2014

25 European markets are expected to move to T+2 securities settlement, ahead of regulatory schedule

Wed 17 Sep, 2014

Entry into force of UCITS V Directive

Wed 17 Sep, 2014

Entry into force of Regulation on improving securities settlement and regulating central securities depositories 

Thu 21 Aug, 2014

Governing Council of the ECB announces that it has identified four systemically important payment systems (SIPS): 

  • TARGET2 (operated by the Eurosytem),
  • EURO1 and STEP2-T (both operated by EBA CLEARING) and
  • CORE(FR) (operated by STET)

 

Tue 12 Aug, 2014

Entry into force of Regulation on oversight requirements for SIPS

Mon 21 Jul, 2014

End of conformance period ((N.B. the FRB has announced that the conformance period is extended to 21 July 2015)

Mon 30 Jun, 2014

Effective for banking entities with at least USD 50 billion. Metrics reporting requirement covering: Risk and Position Limits and Usage; Risk Factor Sensitivities; VaR and Stress VaR; Comprehensive Profit and Loss Attribution; Inventory Turnover; Inventory Aging; Customer Facing Trade Ratio. The  entity must report its daily metrics recorded during the month of July to the FRB by September 2, 2014.

Mon 07 Apr, 2014

The FRB issues a news release announcing its intent to extend the conformance period to 21 July 2017, but only for ownership interest in, and sponsorship of, certain collateralised loan obligations (CLO)

Tue 01 Apr, 2014

S. 16 (Financial Services Compensation Scheme Governance), 59, 60 (part), 63, 64, 65, 66 67 (part) come into force (related to competition functions given to the Payment Systems Regulator) come into force

Sat 01 Mar, 2014

Section 6 and Schedule 1 of BRB (Ring-fencing transfer schemes) come into force

Sat 01 Mar, 2014

Sections 14 and 15 (Financial Services Compensation Scheme Governance) of the BRB come into force

Sat 01 Mar, 2014

Sections 39-58, 68-110 and Schedules 4 and 5 (Payment Systems Regulator) of the BRB come into force

Sat 01 Mar, 2014

Section 130 (PRA’s competitive objective) of the BRB comes into force

Sat 01 Mar, 2014

Section 16 (Financial Services Compensation Scheme governance) of the BRB comes into force

Sat 01 Feb, 2014

Government expects Banking Reform Bill to receive Royal Assent

Wed 29 Jan, 2014

Publication of Commission proposal on “Regulation on structural measures improving the resilience of EU credit institutions”

Wed 18 Dec, 2013

Banking reform bill receives Royal Assent

Tue 10 Dec, 2013

The US federal banking agencies (Federal Reserve Board, CFTC, FDIC, OCC, SEC)  issue a final rule implementing the Volcker Rule. The Final Rule is effective 1 April 2014.

Tue 10 Dec, 2013

The FRB announces that the conformance period is extended to 21 July 2015

Wed 24 Jul, 2013

Banking Reform Bill – Second reading in House of Lords

Wed 10 Jul, 2013

Banking Reform Bill – First reading in House of Lords

Tue 09 Jul, 2013

Banking Reform Bill – Third reading in House of Commons

Mon 08 Jul, 2013

Banking Reform Bill – Report Stage in House of Commons

Thu 16 May, 2013

EU Commission publishes consultation paper on EU banking  reform

Tue 19 Mar, 2013

Banking Reform Bill – Committee stage in House of Commons

Mon 18 Mar, 2013

HM Treasury publishes three draft statutory instruments of the Financial Services and Markets Act 2000 (under the Banking Reform Bill)

Mon 11 Mar, 2013

Banking Reform Bill – Second reading in House of Commons

Mon 04 Feb, 2013

Banking Reform Bill – First reading in House of Commons

Tue 02 Oct, 2012

High-level Expert Group (HLEG) publishes its Final Report on reforming the structure of the EU banking sector (Liikanen Report)

Sun 01 Apr, 2012

Principles for Financial Market Infrastructures (PFMIs) released by the CPSS and the Technical Committee of the IOSCO 

Tue 31 Jan, 2012

Commissioner Barnier appoints the High-level Expert Group (HLEG), led by Erkki Liikanen

Tue 11 Oct, 2011

The US federal banking agencies (Federal Reserve Board, CFTC, FDIC, OCC, SEC)  propose rules implementing the Volcker Rule

Wed 21 Jul, 2010

The Volcker Rule (Section 619 of the Dodd Frank Act) is signed into law. The Volcker Rule is due to become effective on 21 July 2012, and conformance period is expected to end on 21 July, 2014. The Federal Reserve Board (FRB) has the power to extend this conformance period, one year at a time, for a total of no more than three additional years (i.e. 21 July 2017). (N.B. the FRB has announced on 10 December 2013 that the conformance period is extended to 21 July 2015)

Thu 15 Jan, 2009

The Group of 30, a policy advice group chaired by former Reserve Chairman Paul Volcker, publishes a report that includes a call for restrictions on proprietary trading

This content is restricted to site members.
If you are an existing user, please login. New users may register here.
Memberships:

Copyright © 2018

Document Risk Solutions Ltd