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This paper considers the techniques which are – or should be – available for the resolution of banks which are primarily funded through retail deposits. Some (often the majority) of these deposits will be protected through a Deposit Guarantee Scheme...

On 15 March 2013 several key technical standards came into force, setting in motion the implementation timetable for the derivatives reforms under the EU regulation on OTC derivatives, central counterparties and trade repositories (EMIR). As a result some of...

International regulators have now published a ‘near-final’ policy framework setting minimum standards for margin requirements for uncleared derivatives. “Margin requirements for non-centrally cleared derivatives - Second consultative document”...

The European Parliament has removed the last obstacle to the EU derivatives reforms, setting in motion an implementation timetable beginning in mid-March 2013. On 7 February, the proposers withdrew the motion for the European Parliament to object to two regulatory...

On 19 December 2012, the European Commission adopted key technical standards under the EU regulation on OTC derivatives, central counterparties and trade repositories (EMIR), starting the countdown towards implementation of the EU derivatives reforms. These come...

The Basel Committee on Banking Supervision ("BCBS") published the finalised Liquidity Coverage Ratio ("LCR") on 7 January 2013. The finalised LCR is less onerous than the original formulation published in December 2010 and should therefore...

On 19 December 2012, the French Government proposed a new law on separation and regulation of banking activities. The proposals would require larger French banks to separate certain trading and investment activities into dedicated subsidiaries and envisage the...

The European Commission has, since 2010, been working on a proposal for a Directive on securities law. The purpose of this measure is to create a harmonised set of legal rules for Europe relating to what rights an investor has when the investor is not officially...

The CFTC, the SEC and prudential regulators in the United States have made significant progress on the detailed rules to implement the swap market reforms contained in the Dodd-Frank Wall Street Reform and Consumer Protection Act. The principal changes are in...

The final report of the Wheatley Review on LIBOR has been published today (28 September 2012). The report concludes that LIBOR should be retained as a benchmark, but, as expected, recommends a comprehensive reform of LIBOR, which includes replacing the British...