On 28 February 2014, the FCA published Policy Statement 14/3: Final rules for consumer credit firms (PS14/3). In PS14/3, the FCA set out its final Handbook rules for consumer credit firms. We have published a briefing note in which we discuss the final rules and how they differ from the proposals that the FCA consulted on. We also take a brief look at thematic work the FCA is planning for the consumer credit industry.
The FCA has published a speech given by its chief executive, Martin Wheatley. The speech is entitled Making innovation work for firms and consumers.
The FCA has published a webpage in which it sets out how it intends to engage with firms as it develops the policies of the new Payment Systems Regulator which will become operational in April 2015.
The FCA has published Consultation Paper 14/7: Consumer credit interim permission fees for local authorities (CP14/7).
The European Banking Authority (EBA) has published a list of capital instruments across the EU that national supervisory authorities have classified as common equity tier 1 (CET1). The list was compiled in accordance with article 26 of the Capital Requirements Regulation and includes all the CET1 instruments issued by institutions and evaluated as compliant by
The Council of the EU has published a corrigendum to the Bank Recovery and Resolution Directive (BRRD). The corrigendum states that there are obvious errors in a number of language versions of the BRRD (the English version is on page 20 of the corrigendum). The time limit for the Council Presidency and the European Parliament to agree to the corrections is three days.
The BCBS recently published Final Standards for calculating regulatory capital for banks’ exposures to CCPs. Following this, we have published a briefing note that puts these Final Standards in context and considers the manner in which they seek to clarify and modify the existing regulatory capital rules on exposures to CCPs.
View BCBS Final Standards
The European Securities and Markets Authority (ESMA) has published an opinion on voting procedures for central counterparty (CCP) colleges under the European Market Infrastructure Regulation (EMIR).
The European Banking Authority (EBA) has published a Consultation Paper on draft implementing technical standards (ITS) and regulatory technical standards (RTS) which are intended to specify the framework for the conduct of annual supervisory benchmarking of internal approaches for calculating own funds requirements for credit and market risk exposures.
The Council of the EU has published three notes from the Presidency to Council delegations, namely a: