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Prudential Regulation Review
September 2019
Prudential Regulatory Review is a monthly newsletter dedicated to summarising all major risk and regulatory updates.
Summary
Senior EU figures set out their regulatory, supervisory and policy priorities. Andrea Enria, the new Chair of the ECB Supervisory Board, emphasised the priority being placed on completing the post crisis repair process. He also stressed that the ECB would monitor the sustainability of banks’ business models specifically with a view to profitability and the ongoing digitalisation of financial services.
Christine Lagarde, nominee for President of the ECB, set out the principles that would guide her approach to the role including combining a commitment to the ECB’s mandate on monetary policy with the agility to adapt to new challenges such as digitalisation. She also highlighted the importance of inclusiveness in sustaining global co-operation and ensuring that a “range of voices” informed ECB policymaking.
At the European Commission, President-elect Ursula von der Leyen presented her new team in the context of her Presidency objectives including the “need to address the changes in climate, technology and demography that are transforming our societies and way of life”.
Other topics covered include:
· Banking
· Capital Markets
· Investment Management
· Central Bank of Ireland
· Other
EMEA Centre of Regulatory Strategy
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Rod Hardcastle - Director, Centre for Regulatory Strategy UK
John Andrews - Senior Manager, Centre for Regulatory Strategy UK