Prudential Regulation Review

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Prudential Regulation Review 

July 2020

Prudential Regulatory Review is a monthly newsletter dedicated to summarising all major risk and regulatory updates.

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June was another busy month in financial services regulation. Understandably, regulators continued to prioritise addressing the prudential and conduct implications of the COVID-19 pandemic, whilst taking the opportunity, where practicable and proportionate, to take forward their pre-pandemic 2020 agendas.

The EU expedited an agreement on emergency amendments to the Capital Requirements Regulation (CRR ‘Quick Fix’) to help banks manage the capital implications of an economic downturn triggered by COVID-19. This came into force before the end of June, crucially allowing banks to take advantage of some of its amendments for the Q2 reporting period. We also saw a long-awaited milestone as EU negotiators struck a final political agreement on the Recovery and Resolution for Central Counterparties (CCP R&R) Regulation.

The European Commission’s High Level Forum on the future of the Capital Markets Union (CMU) delivered its report and recommendations to the Commission, outlining how it considers the EU should take forward the CMU project to deepen Europe’s cross-border capital markets and assist in the economic recovery from COVID-19. The European Commission is due to follow-up on these recommendations with an Action Plan before the end of this year.

For a full list of COVID-19 related regulatory, monetary and fiscal policy initiatives, please see our report available here.

Other topics covered include:

  • COVID-19
  • Banking
  • Capital Markets
  • Investment Management
  • Central Bank of Ireland
Prudential Regulation Review July 2020

EMEA Centre of Regulatory Strategy

If you would like to contact a member of the EMEA Centre for Regulatory Strategy then please click on the below links:

Rod Hardcastle - Director, Centre for Regulatory Strategy UK

John Andrews - Senior Manager, Centre for Regulatory Strategy UK

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