Europe

Capital / Liquidity

Swiss Regulators Offer Credit Suisse a Show of Support

By Editors | 16/03/2023

FINMA said Credit Suisse meets capital and liquidity requirements applicable to systemically important banks. SNB will provide liquidity to the bank if necessary.

AML / KYC

UK to Start Collecting New Economic Crime Levy from July

By Editors | 15/03/2023

The economic crime levy will apply to financial firms, auditors, tax advisers, crypto firms, and other regulated entities.

ESG / Sustainability

European Banks to Undergo Climate, Cyber Stress Tests

By Mark Johnston | 15/03/2023

European regulators have been asked to conduct a one-off climate risk scenario analysis. The ECB separately plans to launch a thematic stress test on cyber resilience.

Capital / Liquidity

FIs’ Climate-related Risk Capture Incomplete, says BoE

By ESG Investor | 15/03/2023

Existing capability and regime gaps “create uncertainty” over whether financial institutions are adequately capitalised for future climate-related losses, says the Bank of England.

Capital / Liquidity

Credit Suisse Identifies “Material” Financial Reporting Weaknesses

By Editors | 15/03/2023

The weaknesses related to a “failure to design and maintain an effective risk assessment process to identify and analyse the risk of material misstatements”.

Capital / Liquidity

HSBC Acquires Silicon Valley Bank’s UK Unit for £1

By Editors | 14/03/2023

HSBC expects the deal to be profitable, strengthen its commercial banking franchise, and enhance its ability to serve innovative firms.

Enforcement

LBMA to Probe Perth Mint ‘Gold Doping’ Allegations

By Editors | 14/03/2023

Adverse findings under LBMA’s incident review process can result in refiners being struck off the Good Delivery List.

ESG / Sustainability

EU Financial Regulators Testing Climate Transition Resilience

By ESG Investor | 13/03/2023

The European Commission has asked the ESAs to conduct an analysis of the financial system’s resilience as EU member states decarbonise their economies.

ESG / Sustainability

EBA Calls for Action Against Banks Without Mandatory Diversity Policies

By Sanday Chongo Kabange | 09/03/2023

The EBA says competent authorities should take appropriate supervisory measures to ensure banks and investment firms comply with the EU’s mandatory diversity policy.