Banks’ risk-based capital ratios remained stable and liquidity ratios continued to improve in the first half of 2021 even as the pandemic persisted, according to the latest Basel III monitoring results, published on February 21st. The report, published by the Basel Committee on Banking Supervision and based on end-June 2021 data, sets out the impact of the Basel III framework including the December 2017 finalisation of the Basel III reforms and the January 2019 finalisation of the market risk framework. It covers both Group 1 and 2 banks (see note to editors for definitions). Continue reading…

by Dan Mihai

A leak inside the Swiss banking company Credit Suisse revealed the details of the accounts of more than 30,000 customers worldwide. These accounts hold a total of over 100 billion Swiss francs (€ 80 billion), some of which comes from illicit sources such as drug trafficking, human trafficking, money laundering and corruption. Thus, Credit Suisse is embroiled in a new controversy over its unethical discretionary policies and unclear customer selection and money-making procedures. Continue reading…

by Francesco Domenico Attisano, Fabio Accardi & Roberto Rosato

The ESG (Environment, Social, Governance) issue is now on everyone’s lips. The buzzword of the moment is very often wrongly focused only on the environmental issue (see for example Climate Change). Instead, even examining the evolution of global risks, as shown by the latest Global Risk Report1, we note an ever-increasing worldwide perception of risks related to all environmental, social and corporate governance factors. Organisations should pursue sustainable development objectives that reward the creation of long-term value. For this purpose, as outlined in the new Italian Corporate Governance Code, “greater pervasiveness of corporate sustainability, integrated into its strategic perspectives” is essential. Continue reading…

How can we break open closed-up communities all around the world and protect children from hurt? Listen to Dina-Perla’s heartfelt personal story on child abuse, harmful traditional practices, healing and empowerment. She states: “to see the patterns is to see the solutions”. Dina-Perla also shares a couple of urgent call-to-actions with us – for all of us, for the closed-up communities and for governmental bodies. Continue reading…

Greater competition in retail banking is driving choice and lower prices for consumers and small businesses, despite the financial impact of the pandemic. In an update to its 2018 strategic review of retail banking, the FCA found that, while still strong, there are signs large banks’ historic advantages are starting to weaken, driven by digital innovation and changing consumer behaviour. The economic environment – in particular sustained low interest rates – has also constrained banks’ financial returns.      

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The European Union is filing today a case against China at the World Trade Organization (WTO) for restricting EU companies from going to a foreign court to protect and use their patents. China severely restricts EU companies with rights to key technologies (such as 3G, 4G and 5G) from protecting these rights when their patents are used illegally or without appropriate compensation by, for example, Chinese mobile phone manufacturers. The patent holders that do go to court outside China often face significant fines in China, putting them under pressure to settle for licensing fees below market rates. This Chinese policy is extremely damaging to innovation and growth in Europe, effectively depriving European technology companies of the possibility to exercise and enforce the rights that give them a technological edge.
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The Financial Conduct Authority (FCA) has appointed Direct Line Group CEO, Penny James, as Chair of its Practitioner Panel. Penny, who has been a member of the Panel since September 2020, will take up the post from 1 March 2022. She succeeds Paul Feeney, CEO of Quilter. The FCA Practitioner Panel is an independent statutory body providing input from the industry to help the FCA meet its objectives. The FCA also has statutory Panels representing the interests of consumers, practitioners at smaller businesses and wholesale market participants. Continue reading…

The Basel Committee on Banking Supervision today announced the appointment of Neil Esho as its next Secretary General for an initial term of three years. He succeeds Carolyn Rogers, who had served as Secretary General since 2019, and left the Committee in November to become Senior Deputy Governor of the Bank of Canada. Esho has been Deputy Secretary General since July 2014. He joined the Basel Committee Secretariat in April 2006. Prior to that, he was Head of Research at the Australian Prudential Regulation Authority (APRA). Continue reading…

The EuroMed Justice Programme (EMJ) has organised a workshop between Belgian and Lebanese authorities on the international exchange of information for the detection and recovery of criminal assets. The activity was held in Brussels on 1-3 February using the new Technical Assistance Facility (TAF) tool. A delegation of seven judges and prosecutors from Lebanon, one of the South Partner Countries (SPCs), met with representatives of the Belgian Federal Prosecutor’s Office, the Federal Police, the Central Organ for Seizure and Confiscation (OCSC) and the Financial Intelligence Processing Unit (CTIF). Continue reading…