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PRA ADVISES UK BANKS TO USE LIQUIDITY AND CAPITAL BUFFERS TO CONTINUE SUPPORTING CUSTOMERS

The PRA have released a statement and Q&A advising banks that they should use their capital and liquidity buffers to support customers and the UK economy. Banks are required to have substantial liquidity buffers – cash and short-term bonds in order to repay short term obligations as they fall due, at a level well over 100%. In the Q&A, the

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A VIEW ON THE CARE ACT & INTERAGENCY STATEMENT BY US REGULATORY AGENCIES

The impact of the coronavirus is everywhere, including the regulatory reporting world. Aside from the challenges for institutions of making sure that filings are made accurately and on-time with more people working remotely than ever before, the regulatory agencies themselves have had to work to clarify the impact of the Coronavirus Aid, Relief, and Economic Security (CARES) Act and its interaction

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WHAT ARE THE KEY TRENDS WITHIN THE COLLATERAL SPACE RIGHT NOW

Automation, connectivity and both pre- and post-trade optimisation are without a doubt the four key trends in the collateral space right now. The need for greater automation is prevalent due to the increase in margin call volumes and potential disputes created by UMR and COVID-19. By automating the margin workflow via COLLINE’s straight-through processing rules, the collateral management process becomes

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GETTING PREPARED FOR HELPING YOUR CLIENTS AND CUSTOMERS AS THEY RECOVER FROM THE PANDEMIC

While economists ponder what shape the economic recovery will be post-pandemic, in the financial services world it has been remarkable seeing how organisations are adopting new working practices unimagined at the start of 2020. One interesting observation is that co-working spaces are now facing major issues as teams are all working from home, as noted by Sifted. Contact centres must temporarily lock

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DIGITAL QUARANTINE

So here is how things are: we’ve been confined to our homes for a few weeks now, the hashtag #keepsafe is everywhere and we watch various videos on how to thrive on our new lifestyles (teleworking, e-learning, e-aperitifs, home exercise). Even my parents have gotten into it and they are now permanently on WhatsApp, Skype, Internet and videoconferencing! What was once occasional

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HOW WILL UMR AFFECT THE COLLATERAL MARKETPLACE?

Since the 2008 financial crisis, regulators have made huge strides towards stabilising the global financial system via regulatory reform. The US Dodd-Frank Act, Basel III, the European Market Infrastructure Regulation (EMIR) and other global equivalents have provided a tidal wave of regulatory change which, in the current economic climate coupled with stressed market conditions, has exasperate institutions’ antiquated IT infrastructures,

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FCA AND PRA PROVIDE FLEXIBILITY ON SENIOR MANAGERS & CERTIFICATION REGIME FOR DUAL REGULATED FIRMS IN RESPONSE TO THE COVID-19 PANDEMIC

On Friday 3rd April, the FCA and PRA issued a joint statement outlining their expectations of dual regulated firms regarding the Senior Managers and Certification Regime (SM&CR), and how a firm’s governance procedures may be impacted by coronavirus (Covid-19). It is clear the FCA and PRA are keen to provide flexibility to dual regulated firms during these uncertain times, and have

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PRA EXTENDS REPORTING DEADLINES TO EASE PRESSURE ON FIRMS

The PRA has issued a statement regarding its approach to regulatory reporting and Pillar 3 disclosures in response to COVID-19 for UK banks, building societies, designated investments and credit unions. The PRA will accept delayed submission for regulatory reporting where the original remittance deadlines fall on or before 31st May 2020. The list of reports that can be delayed for a

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31
Mar

ACCELERATE YOUR JOURNEY TOWARDS UMR COMPLIANCE WITH VERMEG

The insidious presence of COVID-19 and its impact on society and the financial markets knows no bounds. The financial markets have been in meltdown causing huge volatility and increased margin call volumes, thus causing firms to re-evaluate their priorities where Phase V UMR compliance is concerned. Firms are now having to take a more tactical approach and ensure the continued

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