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Recent regulatory developments focussing on banking and finance.  Contents End of Brexit transition period: BoE and SRB cooperation arrangement MREL and resolvability for mid-tier banks: BoE extends deadline MREL: BoE discussion paper CRD V implementation and designation of firms within certain consolidation groups: PRA PS29/20 International banks: PRA CP2/21 on approach to branch and subsidiary supervision Transposing BRRD II: PRA PS28/20 LIBOR transition: Working Group paper on credit adjustment spread methods for active transition GBP LIBOR referencing loans SSM banks: ECB guide on superv...

Thursday, January 7, 2021 31 December The Brexit Transitional Period (pursuant to which the UK stayed in the Single Market and European Customs Union came to an end. The FCA updated its Brexit webpages to remind firms of the potential impact this will have. 30 December In relation to Brexit, the UK-EU Trade and Cooperation Agreement was signed, which would apply from 1 January 2021. 28 December The Prudential Regulation Authority ("PRA") published a policy statement (PS29/20) on the implementation of the CRD V Directive (EU/2019/878) (" CRD V"). 24 December In relation to Br...

Risk.net UK scraps pre-resolution stays, while EU regulators could opt for even stricter measures Print this page   The UK has signalled its first major regulatory break with the European Union, over pre-resolution stays that give supervisory authorities the power to prevent the termination of financial contracts with a bank on the brink of failure. The new requirements are contained in the second Bank Recovery and Resolution Directive (BRRD II), which must be implemented by EU member states on December 28. The European Banking Authority is finalising a regulatory technical stand...

Give Member States and the financial sector the tools they need to address any rise in NPLs in the EU banking sector as a result of the COVID-19 crisis.

Yannis Stournaras: Paving the way for growth and financial stability in Greece and Europe Speech by Mr Yannis Stournaras, Governor of the Bank of Greece, at the 22nd Annual Capital Link Invest in Greece Forum "Greece- Looking Ahead With Confidence", 15 December 2020. Central bank speech  |  1.         Greek economic developments and prospects The COVID-19 pandemic has halted the recovery of the Greek economy that had begun in 2017. Real GDP contracted by 8.5% y-o-y in January-September 2020, mainly driven by the decline in exports of services and private consumpti...