Author Archives: Angie Bamboulis

FCA CLOSES CONSULTATION ON persistent debt and earlier intervention remedies

The FCA has updated its webpage on its consultation on persistent debt and earlier intervention remedies (CP17/10). Now that the consultation has closed, the FCA stated on its website that they are consulting on measures to address persistent credit card debt and require credit card firms to use their data to identify customers at risk of financial […]

Lloyd’s reacts to Brexit developments

Reacting to the news that the UK and EU are planning to move to the next phase of Brexit talks, Lloyds has released a press release stating that it is pleased that the Brexit talks can now enter the second phase focusing on trade and that an agreement has been reached with regards to the […]

ECB Transcript of the public hearing on the addendum to the ECB Guidance on non-performing loans

The European Central Bank (ECB) has published a transcript of the public hearing on the addendum to the ECB Guidance on non-performing loans, held on 30 November 2017 at the ECB’s main building premises in Frankfurt and Main. This follows the publication of a letter, dated 6 December 2017, from Danièle Nouy, ECB Supervisory Board […]

ECB approves major projects in the field of large-value payments and collateral management

The European Central Bank (ECB) has announced the approval of the consolidation of the Eurosystem’s real-gross settlement system TARGET2 and the securities settlement system platform TARGET2-Securities (T2S), as well as the development of a European Collateral Management System (ECMS). The consolidation will provide market participants across the Eurosystem with enhanced liquidity management procedures and is expected to be […]

EBA’s speech on fintech and cloud in banking

The European Banking Authority (EBA) has published Slavka Eley’s, Head of Supervisory Convergence Unit at the EBA, speech given at the EBF Cloud banking Conference. Slavka Eley’s speech covered three aspects relating to innovation: the observed changes in the banking landscape mainly driven by technological innovation; the use of cloud computing in banking; and FinTech […]

FCA roundtables on high-cost credit

The FCA has issued a paper summarising the issues and ideas raised by participants in the FCA roundtables, held in September and October. The roundtables covered discussions on (i) alternatives to high-cost credit and (ii) the provision of essential goods. The following key themes emerged from the discussions: alternative lenders face challenges in accessing commercial capital at a […]

Treasury updates AML advisory

On 5 December 2017, HM Treasury published an Advisory Notice on money laundering and terrorist financing controls in higher risk jurisdictions. The Advisory Note follows the Financial Action Task Force (FATF) statements identifying high risk jurisdictions; which was discussed at its plenary meeting held on 3 November 2017. In the Advisory Note, HM Treasury draws […]

CMA consults on its 2018/19 annual plan

The Competition and Markets Authority (CMA) is consulting on its draft annual plan, which sets out its plans and priorities over the next year. Interested parties have the opportunity to provide views and comments on the proposed priorities until 14 January 2018. Over the next year, the CMA is proposing to take a particular interest […]

Financial Stability Report, November 2017

The Bank of England (BoE) has published its financial stability report, issue number 42.  The report sets out the Financial Policy Committee’s (FPC), a sub-committee of the BoE’s Court of Directors, views of the outlook for UK financial stability, including the assessment of the resilience of the UK financial system and the main risks to […]

EBA repeals its Guidelines on retail deposits subject to different outflows for the purpose of liquidity reporting

On the 27 November 2017, the European Banking Authority (EBA) announced that it has decided to formally repeal its guidelines on retail deposits subject to different outflows for the purposes of liquidity reporting under the Capital Requirements Regulation. The EBA has decided to repeal the Guidelines as they have been superseded by the Liquidity Coverage […]