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The future of the UK retail investment market: a post-Brexit and COVID-19 outlook

8 September 2021 | 08:50 AM – 09:30 AM BST In retail – the front line of the financial sector – things have moved on significantly since the start of the COVID-19 pandemic with the introduction of new technology and investment opportunities. With these changes new risks have emerged, increasing vulnerability among consumers – particularly younger consumers … Continue Reading

FSB interim report on lessons learnt from the COVID-19 pandemic from a financial stability perspective

On 13 July 2021, the Financial Stability Board (FSB) published an interim report on the lessons learnt from the COVID-19 pandemic from a financial stability perspective. Among other things the interim report notes that: So far, the global financial system has weathered the COVID-19 pandemic thanks to greater resilience, supported by the G20 reforms, and … Continue Reading

Basel Committee’s reforms helped cushion the impact of COVID-19 shock on banks

On 6 July 2021, the Basel Committee on Banking Supervision published a report that gives a preliminary assessment of the impact of the implemented Basel reforms during the COVID-19 pandemic as part of a broader review of their effectiveness. Overall, the report finds that the increased quality and higher levels of capital and liquidity in … Continue Reading

Basel Committee discusses effects of Covid-19 on banks, assesses post-crisis reforms and agrees public consultation on cryptoassets

On 7 June 2021, the Basel Committee on Banking Supervision (Basel Committee) issued a press release following its meeting on 4 June 2021. During this meeting the Basel Committee took stock of COVID-19 risks to the banking system and discussed policy and supervisory initiatives. In terms of crypto-assets the press release notes that the Basel … Continue Reading

EBA speech – The implementation of Basel III in the post-COVID 19 setting

On 12 May 2021, the European Banking Authority (EBA) published a speech given by its chairperson, Jose Manuel Campa, entitled The implementation of Basel 3 in the post-COVID 19 setting. In his speech Mr Campa covers: The measures taken in relation to the COVID-19 pandemic. In particular, Mr Campa states that on “the return to … Continue Reading

PRA statement on the disclosure of exposures subject to measures applied in response to COVID-19

On 27 April 2021, the PRA issued a statement providing an update on its statement of 28 July 2020 which provided guidance on the disclosure of exposures subject to measures applied in response to the COVID-19 crisis. The PRA states: Firms should continue to use the templates published with the PRA’s statement of 28 July … Continue Reading

FSB chair updates G20 on COVID-19 support measures, and a roadmap to address climate-related financial risks

On 6 April 2021, the Financial Stability Board (FSB) published a letter from its Chair, Randal K. Quarles, to G20 Finance Ministers and Central Bank Governors ahead of their virtual meeting on 7 April. The FSB also delivered to the G20 a report on factors to be considered in extending, amending and ending COVID-19 support … Continue Reading

ECB – Best practices applied by financial market infrastructures in their business continuity plans during the COVID-19 pandemic

On 19 March 2021, the European Central Bank (ECB) issued a paper regarding best practices by financial market infrastructures in their business continuity plans during the COVID-19 pandemic. The ECB reports that since the outbreak of the COVID-19 pandemic the Eurosystem has been collecting information on the preparedness of payment systems/schemes and their critical service … Continue Reading

IOSCO reviews implementation of liquidity risk management recommendations and market participants´ responses to COVID-19 induced market stresses

On 5 March 2021, the International Organization of Securities Commissions (IOSCO) launched a thematic review of the 2018 Recommendations for Liquidity Risk Management for Collective Investment Schemes.  The thematic review aims to assess the extent to which the Recommendations have been implemented through IOSCO member regulatory frameworks. It also aims to gather information about how … Continue Reading

FCA finds the Covid-19 pandemic leaves over a quarter of UK adults with low financial resilience

On 11 February 2021, the FCA published the results of its latest Financial Lives survey. The annual survey provides a wealth of information about consumers’ attitudes towards managing their money, the financial products they have and their experiences of engaging with financial services firms. The executive summary is in two parts. In the first part, … Continue Reading

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