Monetary policy in a changing enviroment

18 January 2018

In an interview, Vítor Constâncio, Vice-President of the ECB talks about inflation not yet meeting its expectations. He answers questions like: is the erratic policies of Donald Trump a risk for financial stability? But also subjects like currency and wage modeartion are discussed. You can read the interview on this website.

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Federal Reserve Board announces termination of enforcement actions against 10 banking organizations

16 January 2018

The Federal Reserve Board announced the termination of enforcement actions related to residential mortgage loan servicing and foreclosure processing issued in 2011 and 2012 against 10 banking organizations. The Board also announced civil money penalties totaling $35.1 million against five of these 10 organizations that had not yet been fined for their mortgage servicing deficiencies related to those enforcement actions.

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ESMA raises concerns on fees charged by CRAs and Trade Repositories

15 January 2018

The European Securities and Markets Authority (ESMA) has published a Thematic Report on fees charged by Credit Rating Agencies (CRAs) and Trade Repositories (TRs), following the conclusion of ESMA’s supervisory review of the current fee structures in the credit rating and trade repository industries. In conducting its review, ESMA has collected and analysed information from publically available resources, periodical submissions to ESMA and dedicated requests for information from supervised entities. ESMA also maintained regular engagement with users of credit rating and trade repositories services who provided further information.

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ESMA delays publication of double volume cap data

12 January 2018

The European Securities and Markets Authority (ESMA) decided to delay the publication of the data on the double volume cap (DVC) mechanism for January 2018. The current quality and completeness of the data does not allow for a sufficiently meaningful and comprehensive publication of double volume cap calculations, as required under MiFID II/MiFIR, and ESMA has taken this decision to avoid creating an unlevel playing field.

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FCA fines and bans former RBS trader, Neil Danziger

09 January 2018

The Financial Conduct Authority (FCTA) has imposed a financial penalty of £250,000 on former Royal Bank of Scotland (RBS) interest rate derivatives trader, Neil Danziger, and prohibited him from performing any function in relation to any regulated financial activity. Mr Danziger formerly worked at RBS trading products referenced to Japanese Yen (JPY) LIBOR. In addition, on occasion, he made RBS’s JPY LIBOR submissions to the British Bankers Association (BBA) when RBS’s primary submitters were not available. Continue reading…

Charles Randell appointed as the new Chair of the Financial Conduct Authority

08 January 2018

HM Treasury has announced the appointment of Charles Randell CBE as the new Chair of the Financial Conduct Authority (FCA). Charles is currently an external member of the Prudential Regulation Committee of the Bank of England and a non-executive board member of the Department for Business, Energy and Industrial Strategy. Charles will take up the role on 1 April 2018. The appointment is for a five year term.

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