Loan-level data – implications
Nick StainthorpeEuropean Central Bank and Bank of England liquidity schemes require that loan-level data be disclosed on a regular basis (no less than quarterly) with respect to asset-backed securities...
View ArticleRMBS can form part of the Basel III liquidity buffer. Some good news for the...
Nick Stainthorpe and Theano ManolopoulouThe Basel Committee on Banking Supervision announced yesterday that it had finalised the rules for the Liquidity Coverage Ratio or LCR i.e. the main mechanic for...
View ArticleCFTC Rules – When is a European SPV a commodity pool?
Thomas Watterson and Nick StainthorpeAs part of the Dodd-Frank financial reforms, the U.S. Commodity Futures Trading Commission (“CFTC”) increased its oversight of “swaps”. One change stemming from...
View ArticleRegulation of Money Market Funds and Securitisation
Nick Stainthorpe and Bronwen WhiteheadOn 4 September 2013, the European Commission published a draft regulation on the regulation of European money market funds. Money market funds are important...
View ArticleYou Don’t Need EMIRacle – Trade Reporting for SPVs Made Easy
James FisherEMIR’s trade reporting obligations come into effect on 12 February and counterparties to derivative transactions are currently scrambling to ensure they have all the appropriate systems in...
View ArticleNew Year, New Troubles for US regulators: Volcker Rule challenged before...
Nick Stainthorpe, Theano Manolopoulou and Thomas WattersonIt’s been a busy Christmas and New Year’s season for US regulators. After three years of work, the Federal Reserve Board announced in...
View ArticleBack(loading) to the Future – the Nuances of EMIR Transaction Reporting...
Claude Brown and Jason MarettIt’s been barely six weeks since the EMIR trade reporting obligations came into effect on 12 February and, as the regulatory dust begins to settle, parties to derivative...
View ArticleThe issue of sanctions
Andrzej Janiszewski Much has been written regarding the recent EU and US sanctions targeting the Russian capital markets, military and oil sectors (our own commentary can be found here) and the broad...
View ArticleThe Capital Markets Union – a great race?
The Investment Plan, developed by the European Commission, has the potential to be one of the most important and radical changes to how the European Union operates in the last 25 years. Not only will...
View ArticleMini-bonds – So good things come in small packages?
This may be a slightly odd question with which to start a legal blog post, but do you like burritos, wine, or chocolate? Who doesn’t, right? If only there was a way of making money off your addiction...
View ArticleCHAPS and CREST settlement days to be extended in summer 2016
I bring good news from the Bank of England. Whether you have been up all night trying to close a £1 billion securities transaction for your client, or you are buying a house and there’s a last minute...
View ArticleMoving out of the dog house? The case for easing punitive capital...
Eight years on from the credit crisis, the drive to rehabilitate securitisation continues. The most recent body to speak up for the increasingly regulated structures is the European Banking Authority,...
View ArticleGerman Federal Court Ruling Important for Future Contractual Netting...
In a decision of 9 June 2016, the German Federal Court of Justice (Bundesgerichtshof, “BGH”) has ruled that the determination of the close-out amount in a netting provision based on the German Master...
View ArticleEU Referendum – what does it mean for alternative capital providers?
The UK referendum has caused uncertainty in the financial services industry, but what does it mean for alternative capital providers? And could it create some business opportunities? Alternative...
View ArticleESMA clarifies timelines for publication of credit ratings and rating outlooks
Credit rating agencies (‘CRAs’) that operate in the EU will be interested to hear that on 30 March 2017, ESMA published an update to its Questions & Answers (Q&A) on the ‘CRA’ Regulation...
View ArticleBREXIT- Hand-over your contingency plans…
Earlier this month the Bank of England’s Prudential Regulation Authority (the ‘PRA’) wrote to all UK companies undertaking cross-border activities between the UK and the EU under passporting...
View ArticleTIME IS UP- BOE’s deadline for banks to submit their Brexit plans passes …
On 7 April, the Bank of England gave financial firms a hard deadline of 14 July for submitting their contingency plans for Brexit, which passed last Friday. These plans were required to contemplate a...
View ArticleCOVID-19: impact on the LIBOR market and 2021 transition
Read time: 2 minutes 45 seconds In these uncertain times, we take a look at the potential implications of COVID-19 on the LIBOR transition, currently scheduled for the end of 2021. The...
View ArticleThe Capital Markets Union – a great race?
The Investment Plan, developed by the European Commission, has the potential to be one of the most important and radical changes to how the European Union operates in the last 25 years. Not only will...
View ArticleMini-bonds – So good things come in small packages?
This may be a slightly odd question with which to start a legal blog post, but do you like burritos, wine, or chocolate? Who doesn’t, right? If only there was a way of making money off your addiction...
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