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January 28th, 2016 – By Kieran Lees, Global Sales and Marketing Director. World Economic Forum in Davos
Lombard Risk co-presenting at Oracle’s OpenWorld Conference 2015
On Friday 25th September the European Banking Authority (EBA) issued an opinion to the European Commission’s proposed amendment to remove the maturity ladder from the EBA final draft Implementing Technical Standard (ITS) on additional liquidity monitoring metrics (ALMM) and the decision to delay AMM until January 2016.
Lombard Risk REG-Xperts have put together a brief breakdown of the EBA’s opinion on the maturity ladder, implementation date, and further minor drafting amendments and when we can expect the next ITS release.
The PRA have recently weighed in on the AMM delay saga, which have included the EBA’s announcement to delay AMM up to three months and the European Commission’s intention to delay AMM until January 2016.
The PRA confirmed the European Commission’s decision to delay AMM until January 2016, replacing the original 1st of July deadline and the European Commission’s intention to remove the ‘maturity ladder’ template from the ITS.
The PRA state they will provide an update once the EBA send its opinion or a revised ITS and firms will NOT be required to report any of the data in the additional monitoring metrics for liquidity until the first reporting and submission dates following the amended application date.
Read more HERE >>>
The following questions were submitted by delegates during our 29th regulatory update on“EBA European and PRA UK liquidity regime – LIQREP july Q&ALIQREP”, held on Tuesday 28th July 2015.
On 24th July the European Commission announced its intention to i) delay the Additional Monitoring Metrics until 1st January 2016 and ii) to suspend the maturity ladder template for the moment.
Lombard Risk REG-Xperts have put together 5 points firms should consider from this update including the European Commission announcement, Final application date, Why the postponement is necessary, when we can expect the next EBA update and our REG-Xperts recommendation on how firms should prepare for potential significant changes.
Lombard Risk online poll results from our recent online regulatory update on: PRA and European Liquidity Regime.
We asked over 350 delegates;
Project-wise, Is your LCR done or not?
How long the PRA LCR interim requirement will run for?
Are you aware/dealt with recent Leverage Ratio changes?
onsidering that the European Commission has not yet adopted the final draft ITS, it is highly likely that the application date, which will be specified once the ITS are published in the EU Official Journal, will be postponed by at least three months
Read the story in full HERE >>>
This applies to all UK firms under CRD IV – If you are a European based firm and/or this regulation does NOT impact you, please check with your home regulator.
As Lombard Risk welcomes it’s 2000th follower on LinkedIn we would like to thank everyone who has ‘followed’ ‘liked’ ‘shared’ and ‘commented’ on our updates, we love to hear from you! The aim of our LinkedIn company page is to provide you, our followers, with the latest series of online webinars, business briefings, press releases and whitepapers in the regulatory compliance and collateral landscape. Follow Lombard Risk on LinkedIn for the latest news, events, opinion pieces and whitepapers. More information on our …
Find out what level of impact LCR will have on firms and where firms see LIQREP having the biggest impact.
Meeting the requirements of the Senior Managers Regime is a significant logistical undertaking with input required from multiple sources. However the obvious question is which function should take overall leadership for this initiative.
In three successive compliance webinars we posed this question to delegates. The webinars were held both before and after the publication of the FCA/PRA consultation papers the most recent of which confirmed the implementation date of 7th of March 2016.
This blog analyses the results and whether there is any early indication which department will be assuming overall responsibility for this important new regulatory requirement.
Hardman & Co – 12/03/2015 – Trading update – negative but medium term undimmed
EBA release new (2.3) Data Point Model and XBRL taxonomy for Additional Monitoring Metrics (AMM)
On 2nd March 2015 the European Banking Authority (EBA) published a new XBRL taxonomy to be used by competent authorities for remittance of data under the EBA Implementing Technical Standards (ITS) on supervisory reporting.
The new taxonomy will have as reference date 30th June 2015 onwards and will be used for the first reports on Additional Monitoring Metrics (AMM) and supervisory benchmarking.
This data point model contains the XBRL sub-methodology firms and technology vendors require to form the XBRL taxonomy ready for submission later this year.
Although AMM hasn’t been released in the European Union Official Journal and is yet to be adopted by the European Commission, with the release of the DPM 2.3 it is unlikely AMM templates will change significantly, if at all during this time.
“So, we are still waiting for the final ‘FINAL’ draft of the AMM ITS, HOWEVER, AMM first reporting date, 1st July 2015, is very unlikely be delayed.”
You can read the EBA publication in full online HERE: http://www.eba.europa.eu/-/eba-publishes-new-dpm-and-xbrl-taxonomy-for-remittance-of-supervisory-reporting-as-of-30-june-2015
As of Monday 23rd February 2015, the Lombard Risk headquarters will be operating from its new office in the heart of the City. The new address is 7th Floor, 60 Gracechurch Street, London, EC3V 0HR. Telephone, fax and other contact details remain the same. This infographic looks at the brief history of Gracechurch Street and the surrounding area.
Lombard Risk online poll results from our recent online regulatory update on: PRA and European Liquidity Regime. The online briefing took place on 13th January 2015 and was attended by business representatives from financial services institutions, mainly European-based. James Philips, Global Director Regulatory Strategy, discussed: AMM – What, When, Who, Why LCR – a specific look Intraday – what this means and certain recommendations Liquidity Disclosure – where this is and where its going UK Regime Action…. Follow Lombard Risk REPORTER …
Has anyone been questioned by FCA or PRA about the data submitted on the own funds or LCR templates? confirmation from PRA regarding Funding Plan templates? what is meant by LCR timeline?
Given the current state of play regarding the need for the Bank of England to authorise a change in legislation to enable the PRA and FCA to implement the Regimes and the fact that the second Consultation Paper is still in consultation, ending 27th February, and allowing the regulators time to respond to the CP feedback, it is reasonable to assume that the PRA and FCA will not be in a position to issue final Policy Statements, guidance, etc., until …
Lombard Risk online poll results from our recent online compliance update on addressing the requirements of the Senior Managers and Certification Regimes.
Regulatory updates on PRA CP27/14: CRD IV: Liquidity, Assessment of Basel III regulations + more from the UK, EU, Americas and Asia Pacific in