On 29 July 2025, the Bank of England (BoE) issued a consultation paper ‘Proposal to extend RT2 and CHAPS settlement hours (phase 1)’.
Background
The renewed Real Time Gross Settlement service, RT2, went live on 28 April 2025.
The introduction of RT2 provides a strong, open platform for innovation and growth, and
On 29 July 2025, the Prudential Regulation Authority reissued the 2024 Other Systemically Important Institutions (O-SII) buffer rates for ring-fenced banks (RFBs) and large building societies to reflect the Financial Policy Committee’s updated O-SII buffer framework.
The revised 2024 O-SII buffer rates are based on the average of quarter-end UK leverage
On 28 July 2025, the Financial Conduct Authority (FCA) published its findings following a review of benchmark administrators’ management of data risks. The FCA also set out some wider lessons and next steps for the sector.
Background
The FCA explained that it had recently outlined concerns with firms’ data quality controls and that
On 28 July 2025, the European Banking Authority (EBA) issued an opinion addressed to the European co-legislators and anti-money laundering / countering the financing of terrorism (AML/CFT) competent authorities. It serves as the EBA’s fifth opinion which informs competent authorities’ application of the risk-based approach to AML/CFT supervision and the European
On 28 July 2025, the European Central Bank (ECB) updated its guide to internal models.
The updated guide includes a new section on machine learning which specifies expectations for using machine learning techniques in internal models. The chapter on credit risk has also been updated which includes clarifications of the responsibilities of senior
On 24 July 2025, the Australian Securities and Investments Commission (ASIC) issued proposals to update Regulatory Guide 183 Approval of financial services sector codes of conduct (RG 183), soon to be renamed Codes of conduct for the financial services and credit sectors. Broadly, the guidance highlights ASIC’s approach to approving
On 24 July 2025, the Australian Prudential Regulation Authority (APRA) published its Chair’s speech to the Australian Banking Association Conference 2025. In this speech, APRA Chair John Lonsdale foreshadows amendments to prudential regulation and macroprudential policy tools, reviews of existing prudential standards, and calls banks, insurers and superannuation trustees to have increased vigilance
On 25 July 2025, the Prudential Regulation Authority updated its webpage on waivers and modifications of rules.
New text has been added under the heading ‘What does this mean for firms or CRR consolidation entities?’which reads:
“In July 2025, the PRA announced its intention to continue working on the basis of its proposed implementation date
On 25 July 2025, the European Central Bank (ECB), updated its policies outlining how it exercises options and discretions when supervising banks, following a public consultation which ended on 24 January 2025. The ECB has also published a feedback statement providing an overview of the comments received and the ECB’s assessment of these
On 23 July 2025, the Australian Securities and Investments Commission (ASIC) published a speech by its chair, Joe Longo. The speech was delivered at the Australian Banking Association (ABA) Banking Conference in Sydney and encourages responsible use of artificial intelligence (AI) to improve customer outcomes in banking.
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