On 8 July 2025, the Australian Prudential Regulation Authority (APRA) released a consultation paper on implementing APRA’s decision to phase out Additional Tier 1 (AT1) capital instruments.
Background
APRA is seeking feedback on proposed amendments that give effect to the phase out of AT1 capital instruments and replace them with predominantly
On 7 July 2025, the European Banking Authority (EBA) issued a consultation paper containing draft guidelines on ancillary services undertakings specifying the criteria for the identification of activities referred to in Article 4(1)(18) of the Capital Requirements Regulation (CRR).
Background
In November 2017, the EBA published an opinion and a report
In this latest issue of Regulation Around the World we look at how regulators are developing their proposals for Open Finance, asking six key questions in the following jurisdictions: United Kingdom, United States, Canada, EU, Luxembourg, France, Italy, Poland, Hong Kong, China, UAE, Australia and South Africa.
Read the issue here.
On 2 July 2025, the Single Resolution Board (SRB) updated its guidance for banks on solvent wind-down of trading books (SWD guidance).
Background
The SWD guidance sets out the main expectations that banks under the SRB’s remit with material trading activities are expected to develop to support the planning and execution
On 25 June 2025, the Council of the EU issued a press release announcing that it had reached political agreement with the European Parliament on the legislative package for the crisis management and deposit insurance (CMDI) framework review. The European Parliament has also issued a press release.
In April 2023, the European
On 23 June 2025, the Bank of England (BoE) issued a statement of commitment regarding the FX Global Code (Code) which was updated last December.
The Code sets out principles of good practice in the wholesale foreign exchange market which serves as a high-level reference for market participants when conducting business
On 18 June 2025, the Australian Prudential Regulation Authority (APRA) published a letter to consult on a set of minor proposals on instruments relating to section 66 of the Banking Act 1959.
Under section 66 of the Banking Act, there are restrictions on the use of certain words and expressions within the context
On 12 June 2025, the Australian Prudential Regulation Authority (APRA) issued a consultation paper on modifying the capital framework for annuities.
In summary the proposals redesign the illiquidity premium in Prudential Standard LPS 112 Capital Adequacy: Measurement of Capital (LPS 112). Specifically, APRA proposes to allow a bigger liquidity premium where
On 5 June 2025, the Single Resolution Board announced that it will be running a simulation of the collapse of a major bank to test the EU’s crisis management systems.
The scenario has been developed in secrecy and the central theme involves the failure of a systemically important bank with operations in multiple countries including
On 3 June 2025, the European Banking Authority (EBA) published a speech by its chairperson, José Manuel Campa. The speech was made at a high-level meeting for European Supervisors and is entitled Efficiency and effectiveness of EU financial regulation.
In his speech Mr Campa notes that there is currently a debate on