KPMG expects to benefit from the Brexit vote as companies racing to draw up contingency plans turn to the Big Four accountancy giant for advice on how to protect their businesses while the UK secedes from the EU. Speaking as KPMG UK posted a 5.6pc rise in annual revenues to almost £2.1bn, breaking the [...]
The European Banking Authority (EBA) published today its final Guidelines on regulatory disclosure requirements following an update of the Pillar 3 requirements by the Basel Committee in January 2015. These Guidelines represent a significant step forward in the EBA's effort of improving and enhancing the consistency and comparability of institutions' regulatory disclosures. Following the [...]
The 45 EU Agencies and Joint Undertakings make a vast contribution to the economic and political development of the European Union according to two new studies presented today during the EU Agencies Forum at the European Parliament. The studies highlight that while the EU Agencies represent less than 0.8% of the EU's annual budget [...]
Once upon at time a recession like this would have wiped out every single bank. The fictional apocalyptic scenario sketched out by the Bank of England would have destroyed all of Britain’s big banks’ capital buffers and then some, if they were still as weak as they were going into 2008. Yet the lenders [...]
The European Banking Authority (EBA) published today the list of public sector entities (PSEs) that may be treated as regional governments, local authorities or central governments in the area of credit risk, in accordance with the Capital Requirements Regulation (CRR). This list will assist EU institutions in determining their capital requirements for credit risk. [...]
The European Banking Authority (EBA) published today for consultation revised Implementing Technical Standards (ITS) on supervisory reporting. The proposed amendments concern new requirements for the reporting of information on sovereign exposures and changed requirements for the reporting of operational risk data. The standards on supervisory reporting aim at collecting information on institutions' compliance with [...]
The European Banking Authority (EBA) launched today a consultation in response to the European Commission's call for technical advice on the design of a new prudential regime for investment firms, which is specifically tailored to the needs of investment firms' different business models and inherent risks. The aim of this work is to develop [...]
Worried about Deutsche Bank? Alas, there’s little to cheer elsewhere Queasy calm is unpleasant, but it beats sickening panic. Late on September 29th Deutsche Bank’s share price lurched downwards again, to a 34-year low, after Bloomberg reported that “about ten” hedge funds had switched some business away from the troubled German lender. That capped [...]
The European Banking Authority (EBA) launched today a consultation on its draft Guidelines on the assessment of the Information and Communication Technology (ICT) risk in the context of the Supervisory Review and Evaluation Process (SREP). These draft Guidelines are addressed to competent authorities and aim at promoting common procedures and methodologies for the assessment [...]
A $14 billion demand from America adds to the German lender’s troubles Bills for pre-crisis buccaneering are still coming in. Deutsche Bank, Germany’s biggest lender, confirmed on September 15th that America’s Department of Justice (DoJ) had asked for $14 billion to settle possible claims connected with the underwriting and sale of residential mortgage-backed securities [...]