In January 2016, the Basel Committee on Banking Supervision published the standard Minimum capital requirements for market risk (hereafter “January 2016 standard”). This new market risk standard was developed to address a number of structural shortcomings in the Basel II market risk framework (and its subsequent revisions), and served as a key component of the Basel Committee’s reform of global regulatory standards in response to the global financial crisis.

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In his keynote speech, Klaas Knot outlines how the issue of ‘sustainability’ got on the DNB agenda, highlighting how and why sustainability is relevant for central banks, supervisors and the financial industry. Secondly, he gives an overview of the climate-risks in the Dutch financial sector. Third and finally, he sketches what this means for bank risk management and supervision.

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In his speech Christopher Woolard, FCA Executive Director of Strategy and Competition: “There’s a danger, when you’re up to your neck in policy proposals, economic analysis and focus group findings, that you could forget that regulation of the credit sector is not a cold academic exercise. Those of us engaged with this issue know the truth: that for millions of people credit is woven through the fabric of everyday life. In Glasgow 41% of adults have outstanding, non-mortgage debt, with 11% of adults in particularly high-cost credit debt.”

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As the supervisory authority for Europol, the EDPS is responsible for providing Europol with advice on all matters concerning the processing of personal data. This includes proposals for internal rules or administrative measures relating to the protection of the fundamental rights of individuals or the transfer and exchange of personal data. In 2017 Europol published its first Europol Opinion, which concerned Europol’s Integrated Data Management Concept (IDMC) Guidelines.

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Sarah Rapson, Director, Financial Conduct Authority (FCA) gave a speech about the approach of the FCA to authorisation, on which they have just consulted. In her speech she will focus on three things: How FCA use authorisation to deliver their Mission. How FCA help firms to meet FCAs minimum standards and how FCA improves their approach and being more transparent about their performance.

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Interview with Peter Praet, Member of the Executive Board of the ECB, about inflation, its proces, the policies taken and the improved that still have to be taken. “The policies we have undertaken, especially since 2014, have been quite successful in getting us closer to our inflation aim. But there are uncertainties about the process of inflation, given factors like globalisation and technological changes. Mario Draghi raised important questions, which have been discussed among central bankers: what is the non-accelerating inflation rate of unemployment (NAIRU), what is the output gap and how big is the slack? He was exploring the possibility that the degree of slack might be bigger than what you find in classical assessments.”

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Christian Bittar, an ex-Deutsche Bank trader, pleaded guilty to conspiracy to defraud in connection with the SFO’s investigation into the manipulation of the Euro Interbank Offered Rate. A court order restricting reporting of the plea was lifted today.
The trial of the remaining defendants – Achim Kraemer, Colin Bermingham, Carlo Palombo, Philippe Moryoussef and Sisse Bohart – is scheduled to begin at Southwark Crown Court on 9 April.

Source: https://www.sfo.gov.uk

The Financial Conduct Authority (FCA) has published a discussion paper on transforming culture in financial services which presents views from academics and industry thought leaders. The paper is intended to provide a basis for stimulating further debate on transforming culture in the sector. The paper is a set of essays that discuss what a good culture might look like, the role of regulation and regulators, how firms might go beyond incentives, and how to change behaviour for the better.

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 The European Banking Authority (EBA) published an Opinion following the notification by the French High Council for Financial Stability (HCSF) of its intention to tighten the large-exposure limits applicable to large and highly indebted non-financial corporations (NFCs) resident in France or groups of connected NFCs assessed to be highly indebted and based in France. Based on the evidence submitted, the EBA does not object to the adoption of the proposed measure, which the HCSF intends to apply only to global or other systemically important institutions (G-SIIs and O-SIIs) with the aim of accounting for changes in the intensity of macroprudential/systemic risk that could pose a threat to financial stability in France.
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The European Banking Authority (EBA) launched a call for expression of interest for membership to its Banking Stakeholder Group (BSG), as the mandate for the majority of its members will expire on 14 October 2018. The call for expression of interest is open to candidates representing stakeholders across the European Union. The deadline for application is 7 June 2018.

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