Latest news with #Basel3.1
Yahoo
16-05-2025
- Business
- Yahoo
US reportedly plans to slash bank rules imposed to prevent 2008-style crash
US watchdogs are reportedly planning to slash capital rules for banks designed to prevent another 2008-style crash, as Donald Trump's deregulation drive opens the door to the biggest rollback of post-crisis protections in more than a decade. The move follows heavy lobbying by the banking industry, with lenders such as JP Morgan and Goldman Sachs having long complained that competition and lending have been hindered by burdensome rules governing the assets they must hold versus their liabilities. Regulators are expected to put forward the proposals this summer, aimed at cutting the supplementary leverage ratio that requires big banks to hold high-quality capital against risky assets including loans and derivatives, according to the Financial Times, which cited unnamed sources. The rules came into force after the 2008 financial crisis, as part of efforts to shockproof the banking system and avoid damaging ripple effects that could cause another global economic meltdown. The crisis forced governments to spend billions of dollars bailing out big lenders that took too much risk. Changes to bank capital rules have been widely expected, with Trump having promised a bonfire of regulation during his second term in office, with plans to slash 10 regulations for every new one added. While some critics warn it is the wrong time to slash protections, given growing uncertainty over policy overhauls and market volatility, banks seem to have won the ear of policymakers. Lobbyists have long argued that the rules punish them for holding relatively low-risk assets including US debt, known as treasuries, and hinders their ability to provide more loans. Prospects of a deregulation drive have sparked concerns in some corners of the City of London that the UK could fall behind and become uncompetitive compared with US peers, because of stricter regulation. The chancellor, Rachel Reeves, in November said regulations put in place after the global financial crisis had 'gone too far', and ordered financial watchdogs to encourage more risk-taking and roll back rules that may have been curbing the growth and competitiveness of City firms. Months later, the Bank of England announced it was further delaying new capital rules in the UK – known as Basel 3.1 – as it weighed the impact of Trump's return to the White House. The Financial Conduct Authority is looking at how it could ease mortgage rules that were tightened since the financial crisis, in order to boost home ownership amid pressure from the Labour government. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
12-05-2025
- Business
- Business Wire
Wolters Kluwer 2025 Market Insights thought leadership series convenes in key London event
LONDON--(BUSINESS WIRE)-- Wolters Kluwer Finance, Risk and Regulatory Reporting (FRR) hosts its latest 2025 Market Insights series installment with a Market Insights UK event featuring Wolters Kluwer experts, alongside industry thought leaders from PwC and UK Finance, from 14:00-17:00 BST Wednesday, May 14 at The Westin London City, London. Now a trusted annual touchpoint, the Market Insights series is Wolters Kluwer's proprietary thought leadership forum for finance, risk, and regulatory professionals to gain early insight into the trends, challenges, and regulatory shifts that will define the year ahead. The UK edition brings together senior leaders, partners, and experts to exchange knowledge and practical guidance tailored to the evolving UK financial landscape. 'Our Market Insights events help finance and risk leaders cut through the noise and get clarity on what's coming next,' said Jeroen Van Doorsselaere, Vice President, Global Product & Platform Management, Wolters Kluwer FRR. 'For UK institutions in particular, the timing is critical. With Basel 3.1 and other major changes accelerating, this event connects regulation to actionable strategies.' With growing geopolitical uncertainty and macroeconomics shaping 2025, Market Insights UK will deliver business-critical updates on how financial institutions can prepare, adapt, and lead. Designed to connect technical compliance with strategic execution, the agenda includes: UK regulatory outlook: Basel 3.1, SDDT, BoE Taxonomy 1.3.1, depositor protection changes, revised leverage thresholds, Large Exposures, and remuneration reforms ALM under pressure: How banks are reshaping ALM frameworks amid market volatility and geopolitical risk Basel 3.1 & SDDT: Implementation timelines, parallel testing, and UK-specific readiness insights Finance Transformation: Practical strategies to modernize finance operations and boost efficiency, compliance, and agility The broader 2025 Market Insights series runs from March to June with events in Luxembourg (March 13); France (April 16); United Kingdom (May 14); and planned sessions in Austria, Netherlands & Belgium, Germany, Hong Kong, Monaco, and more. Each Market Insight event addresses local regulatory priorities while examining pan-European and pan-APAC themes. 'The series demonstrates Wolters Kluwer's ongoing commitment to supporting financial institutions in meeting compliance obligations, enhancing competitiveness, and anticipating future demands, through the power of sharing expert insights and our OneSumX technology platform,' said Van Doorsselaere. FRR is part of Wolters Kluwer Financial & Corporate Compliance (FCC) division, which provides a wide range of technology-enabled lending, regulatory and investment compliance solutions, corporate services, and legal entity compliance solutions. Registration is now open at Wolters Kluwer Market Insights UK. About Wolters Kluwer Wolters Kluwer (EURONEXT: WKL) is a global leader in information, software solutions and services for professionals in healthcare; tax and accounting; financial and corporate compliance; legal and regulatory; corporate performance and ESG. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with technology and services. Wolters Kluwer reported 2024 annual revenues of €5.9 billion. The group serves customers in over 180 countries, maintains operations in over 40 countries, and employs approximately 21,600 people worldwide. The company is headquartered in Alphen aan den Rijn, the Netherlands. For more information, visit follow us on LinkedIn, Facebook, YouTube and Instagram.
Yahoo
12-05-2025
- Business
- Yahoo
Wolters Kluwer 2025 Market Insights thought leadership series convenes in key London event
Senior finance, risk, and compliance leaders to explore Basel 3.1, ALM resilience, and finance transformation LONDON, May 12, 2025--(BUSINESS WIRE)--Wolters Kluwer Finance, Risk and Regulatory Reporting (FRR) hosts its latest 2025 Market Insights series installment with a Market Insights UK event featuring Wolters Kluwer experts, alongside industry thought leaders from PwC and UK Finance, from 14:00-17:00 BST Wednesday, May 14 at The Westin London City, London. Now a trusted annual touchpoint, the Market Insights series is Wolters Kluwer's proprietary thought leadership forum for finance, risk, and regulatory professionals to gain early insight into the trends, challenges, and regulatory shifts that will define the year ahead. The UK edition brings together senior leaders, partners, and experts to exchange knowledge and practical guidance tailored to the evolving UK financial landscape. "Our Market Insights events help finance and risk leaders cut through the noise and get clarity on what's coming next," said Jeroen Van Doorsselaere, Vice President, Global Product & Platform Management, Wolters Kluwer FRR. "For UK institutions in particular, the timing is critical. With Basel 3.1 and other major changes accelerating, this event connects regulation to actionable strategies." With growing geopolitical uncertainty and macroeconomics shaping 2025, Market Insights UK will deliver business-critical updates on how financial institutions can prepare, adapt, and lead. Designed to connect technical compliance with strategic execution, the agenda includes: UK regulatory outlook: Basel 3.1, SDDT, BoE Taxonomy 1.3.1, depositor protection changes, revised leverage thresholds, Large Exposures, and remuneration reforms ALM under pressure: How banks are reshaping ALM frameworks amid market volatility and geopolitical risk Basel 3.1 & SDDT: Implementation timelines, parallel testing, and UK-specific readiness insights Finance Transformation: Practical strategies to modernize finance operations and boost efficiency, compliance, and agility The broader 2025 Market Insights series runs from March to June with events in Luxembourg (March 13); France (April 16); United Kingdom (May 14); and planned sessions in Austria, Netherlands & Belgium, Germany, Hong Kong, Monaco, and more. Each Market Insight event addresses local regulatory priorities while examining pan-European and pan-APAC themes. "The series demonstrates Wolters Kluwer's ongoing commitment to supporting financial institutions in meeting compliance obligations, enhancing competitiveness, and anticipating future demands, through the power of sharing expert insights and our OneSumX technology platform," said Van Doorsselaere. FRR is part of Wolters Kluwer Financial & Corporate Compliance (FCC) division, which provides a wide range of technology-enabled lending, regulatory and investment compliance solutions, corporate services, and legal entity compliance solutions. Registration is now open at Wolters Kluwer Market Insights UK. About Wolters Kluwer Wolters Kluwer (EURONEXT: WKL) is a global leader in information, software solutions and services for professionals in healthcare; tax and accounting; financial and corporate compliance; legal and regulatory; corporate performance and ESG. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with technology and services. Wolters Kluwer reported 2024 annual revenues of €5.9 billion. The group serves customers in over 180 countries, maintains operations in over 40 countries, and employs approximately 21,600 people worldwide. The company is headquartered in Alphen aan den Rijn, the Netherlands. For more information, visit follow us on LinkedIn, Facebook, YouTube and Instagram. View source version on Contacts Media ContactDavid FeiderAssociate Director, External CommunicationsFinancial & Corporate ComplianceWolters KluwerOffice +1
Yahoo
22-04-2025
- Business
- Yahoo
IMF warns Trump tariffs are putting global financial system under strain
The global financial system is coming under increasing strain as Donald Trump's trade war rocks markets, the International Monetary Fund has warned. 'Global financial stability risks have increased significantly,' the IMF said in its regular snapshot of the system, urging regulators to be on the alert for potential crises. It pointed to the 'sharp repricing of risk assets', that has followed the US president's tariff announcements since February – in particular his 2 April 'liberation day' statement – and warned that there may be more to come. Related: Labour must focus on risk to global financial stability posed by Trump policies, not only trade | Heather Stewart Published as finance ministers and central bankers gather in Washington for the IMF's spring meetings – and as it downgraded its forecasts for global growth amid tariff concerns – the Global Financial Stability Review identified what it called 'forward-looking vulnerabilities' in markets. These include what it said were overstretched valuations for stocks and bonds in some areas, even after recent sell-offs; the highly leveraged state of some financial institutions, including hedge funds; and the vulnerability of some governments to volatility in sovereign bond markets. Governments in emerging economies could be hit especially hard by sudden increases in borrowing costs, the IMF warned, suggesting 'investor concerns about public debt sustainability and other fragilities in the financial sector can worsen in a mutually reinforcing fashion'. Meanwhile, companies may find it more expensive to borrow, if volatile corporate bond markets drive up the cost of debt, it suggested – while households will be hit via 'wealth effects', if the value of their pensions and other investments continues to slide. The Washington-based lender expressed particular concern about the growing role of 'nonbank' lenders, which are much less heavily regulated than banks, but can still pose risks to the wider financial system. The role of these lenders, which include pension and investment funds, has grown rapidly in recent years, after rules on banks were toughened up after the 2008 global financial crisis. The IMF warned of a 'deepening nexus' between these nonbank lenders and traditional banks. It suggested they could be forced to divulge more information to regulators, which could then identify and rein in 'poorly governed and excessive risk-taking institutions'. The IMF also urged governments to ensure there is sufficient capital and liquidity in the banking system to cope with a crisis – including by the 'full, timely and consistent implementation' of the so-called Basel 3 rules, devised after the 2008 crisis. The Bank of England recently delayed the implementation of the final stage of these rules, known as Basel 3.1, by a year in the UK, as the chancellor, Rachel Reeves, pressed regulators to take a more pro-growth approach. Separately on Tuesday, a policymaker at the Bank, Megan Greene, said US trade tariffs were more likely to push down UK inflation than to drive it up, but that there were risks on both sides. Greene told Bloomberg: 'The tariffs represent more of a disinflationary risk than an inflationary risk.' However, she added: 'There's a tonne of uncertainty around this, but there are both inflationary and disinflationary forces.' On Monday, Trump renewed his attack against the Federal Reserve chair, Jerome Powell, and the independence of the US central bank. Greene said that 'credibility is the currency of central banks and I think independence is quite an important piece of that'. She said the Bank could credibly try to hit its targets because it was free to make its own decisions.
The Guardian
22-04-2025
- Business
- The Guardian
IMF warns Trump tariffs are putting global financial system under strain
The global financial system is coming under increasing strain as Donald Trump's trade war rocks markets, the International Monetary Fund has warned. 'Global financial stability risks have increased significantly,' the IMF said in its regular snapshot of the system, urging regulators to be on the alert for potential crises. It pointed to the 'sharp repricing of risk assets', that has followed the US president's tariff announcements since February – in particular his 2 April 'liberation day' statement – and warned that there may be more to come. Published as finance ministers and central bankers gather in Washington for the IMF's spring meetings – and as it downgraded its forecasts for global growth amid tariff concerns – the Global Financial Stability Review identified what it called 'forward-looking vulnerabilities' in markets. These include what it said were overstretched valuations for stocks and bonds in some areas, even after recent sell-offs; the highly leveraged state of some financial institutions, including hedge funds; and the vulnerability of some governments to volatility in sovereign bond markets. Governments in emerging economies could be hit especially hard by sudden increases in borrowing costs, the IMF warned, suggesting 'investor concerns about public debt sustainability and other fragilities in the financial sector can worsen in a mutually reinforcing fashion'. Meanwhile, companies may find it more expensive to borrow, if volatile corporate bond markets drive up the cost of debt, it suggested – while households will be hit via 'wealth effects', if the value of their pensions and other investments continues to slide. The Washington-based lender expressed particular concern about the growing role of 'nonbank' lenders, which are much less heavily regulated than banks, but can still pose risks to the wider financial system. The role of these lenders, which include pension and investment funds, has grown rapidly in recent years, after rules on banks were toughened up after the 2008 global financial crisis. The IMF warned of a 'deepening nexus' between these nonbank lenders and traditional banks. It suggested they could be forced to divulge more information to regulators, which could then identify and rein in 'poorly governed and excessive risk-taking institutions'. The IMF also urged governments to ensure there is sufficient capital and liquidity in the banking system to cope with a crisis – including by the 'full, timely and consistent implementation' of the so-called Basel 3 rules, devised after the 2008 crisis. Sign up to Business Today Get set for the working day – we'll point you to all the business news and analysis you need every morning after newsletter promotion The Bank of England recently delayed the implementation of the final stage of these rules, known as Basel 3.1, by a year in the UK, as the chancellor, Rachel Reeves, pressed regulators to take a more pro-growth approach. Separately on Tuesday, a policymaker at the Bank, Megan Greene, said US trade tariffs were more likely to push down UK inflation than to drive it up, but that there were risks on both sides. Greene told Bloomberg: 'The tariffs represent more of a disinflationary risk than an inflationary risk.' However, she added: 'There's a tonne of uncertainty around this, but there are both inflationary and disinflationary forces.' On Monday, Trump renewed his attack against the Federal Reserve chair, Jerome Powell, and the independence of the US central bank. Greene said that 'credibility is the currency of central banks and I think independence is quite an important piece of that'. She said the Bank could credibly try to hit its targets because it was free to make its own decisions.
