Nellie Liang

Shadow banks face tougher rules following Covid-induced volatility

Global regulators have long kept an eye on the shadow banking sector from afar and warned that it may be a source of systemic risk, but the pandemic-driven market turmoil in March was a tipping point. The Financial Stability Board is now calling for firm action to “strengthen the resilience of non-bank financial intermediation”. 

Rick Watson

FSB warns of climate change threat to financial stability

Policy-makers and their advisers have at last recognised the implications of climate change on financial stability, marking a sea change in political sentiment on this issue. By Victor Smart

John Glen

UK faces tough battle for EU equivalence

With Brexit done, UK negotiators are now striving to reclaim some access to EU financial markets: an ambitious goal, according to some, and one in which the benefits may be overstated. 

Rory Green

China gears up for launch of digital currency – with global implications

Residents of Suzhou, an ancient city in the Yangtze Basin, recently pioneered China’s new digital currency – and banks and fintechs are taking note. 

Colleen Baker web

FSB treads fine line on CCP resolution issue in final guidance

Clearing house members have cautiously welcomed the latest FSB guidance on CCP resolution, which contained few surprises, but argue it should go even further. 

Benoit Coeure

CBDC experiment paves way for market infrastructure revolution

The infrastructure of financial markets came a step closer to being revolutionised following an experiment involving the Bank for International Settlements (BIS) and the Swiss National Bank (SNB) using central bank digital currencies (CBDCs) for settling transactions. By Justin Pugsley

Nausicaa Delfas web

UK-US look to regulatory co-operation to boost cross-border financial services

A free trade agreement between the UK and the US looks unlikely any time soon. However, this will not stop the two forging greater regulatory co-operation to boost financial services activity, potentially creating a template for other international agreements. 

Seismic changes

Financial firms will have to adapt to seismic changes this year

The year 2020 generated seismic shifts in the structure of markets, ways of working, the landscape of risks and paths of recovery. Harnessing these requires firms to prioritise a purposeful recovery, resilience and restructuring in the year ahead. By Adam Markson, head of UK and Ireland risk practice at Accenture.

Henry Umney web

GRC 2021 predictions: digitising in a hybrid world

Governance, risk and compliance (GRC) teams started 2020 with a clear picture of what they were going to focus on this year, but the onset of Covid-19 pandemic threw up new GRC challenges, such as around bank staff having to work from home. By Henry Umney, SVP Commercial at Mitratech.

How might ESG impact prudential regulatory frameworks?