Transition to new interest rate benchmarks remains challenging despite DOJ ruling

An important set of protocols to help the transition away from the tarnished Ibors to alternative interest rate benchmarks have been given the green light by the US Department of Justice, but the industry still faces an uphill task in being ready on time 

Basel Committee ready to pursue more Covid-related measures if needed

Banks could get more regulatory relief should the Covid-19 pandemic prove particularly damaging over the winter period with many employees having to work from home again, the Basel Committee on Banking Supervision said. 

Daniel Carpenter

Spread of transaction taxes raises important operational issues

It is widely assumed that the expense of Financial Transaction Taxes is simply that of the tax itself, but in reality the processes financial firms need to comply with them can be even more costly 

Katja Haeferer

Whistleblowing increasingly seen by regulators as important for exposing misconduct

Some regulators are beginning to see the benefits of whistleblowing in helping them route out misconduct, but so far, there is a reluctance to mirror some aspects of the US approach

Banks potentially face more fines following FinCEN money laundering revelations

The world’s largest banks have apparently allowed criminals to launder vast amounts of money through their organisations, according to documents obtained by online news outlet BuzzFeed. 

Pauline Lambert

Banks gear up for tougher stress tests

Covid-19 and climate change are sending supervisors back to the drawing board when it comes to the design of stress tests to ensure banks are fully prepared for an increasingly uncertain future

Olivia Perney

Banks can weather the pandemic storm

Analysts are confident that most banks can cope with the economic impact of a second wave of the Covid-19 pandemic, but they warn that losses could nonetheless pile up

Alan Houmann - Citi

UK’s financial services ambitions could boost City of London

As the UK disentangles itself from the EU, it is showing that it has big ambitions to foster more cross-border financial services trade, a move which if successful, could prove to be a boon for the City of London  

Antitrust considerations delay ISDA launch of IBOR fallbacks documentation

The launch of derivatives fallback documentation as part of the move away from interbank offered rates (IBORs) produced by the International Swaps and Derivatives Association (ISDA) has been delayed as it awaits a ruling on US competition law.

Wind and solar

Mixed evidence that green bonds are accelerating transition to low carbon economy

Are green bonds really playing a part in decarbonising the economy? The BIS, for one, has some doubts and to help make sure these securities more closely match their moniker, it has suggested a carbon rating system specifically for firms