Tag: Bank Ring-fencing
Ring-fencing: the current state of play
Many senior financiers would describe the post-financial crisis architecture as brutalist and overpriced, with the plethora of regulations designed and implemented by a legion of legal bodies costing British banks billions over the last few years. As the deadline for ring-fencing is fast approaching, it seems opportune to assess the current state of the ring-fence […]
EU Parliament ready to pull down fence
Today’s FT and Bloomberg report a compromise on bank restructuring between two large voting blocs of the European Parliament. The proposal would apply to all G-SIB EU banks and all others that have total assets of at least €30bn. and trading activities of €70bn. or more. The deal, which still requires plenary approval, would ban […]
FSB on Structural Reform- too early to tell, may be trouble ahead
The FSB has published an interesting round-up of structural banking reforms as a report to the G20 Leaders for the November 2014 summit. The short (21 page) report overviews structural reform in the G20 jurisdictions and assesses their consonance and cross-border consistency. While it is a usefully concise summary of the various nascent and ongoing […]
PRA cranks up the printing press
The PRA has published four papers, three consultations and one discussion, as part of the PRA’s wider “resolution and resilience agenda”. The implementation of ring-fencing: consultation on legal structure, governance and the continuity services and facilities- CP19\14 sets out the PRA’s proposed ring-fencing policy in three areas: the legal structure of banking groups, governance, and […]
The Volcker-Wagen rolls on
Dodd-Frank Section 619 “Prohibitions on proprietary trading and certain relationships with hedge funds and private equity funds”, more snappily known as the “Volcker Rule”, has recently undergone some incremental developments. The FRB, OCC, FDIC, SEC and CFTC jointly issued a FAQs document addressing the following matters: The reporting dates and date rules for trading metrics. […]
PCBC Publishes Second Report on UK Banking Reform
On 11 March 2013, the Parliamentary Commission on Banking Standards (PCBS) published its second report on banking reform in the UK. The second report addresses the UK government’s response to the first report of the PCBS and specifically the suggestions made therein in relation to banking reform. It makes a number of recommendations and observations, […]
Bank Ring-fencing in the UK: The Financial Services (Banking Reform) Bill 2013
Introduction On 4 February 2013, the Financial Services (Banking Reform) Bill 2013 (the “BRB”) was published on the UK Parliament website. The BRB had its first reading in the House of Commons on 4 February, and its second reading on 5 February. Its purpose is to implement the recommendations of the Independent Commission on Banking […]