Banking and finance regulatory news, December 2020

Recent regulatory developments focussing on banking and finance. See developments of broader scope in the Related Materials links.


  • Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020
  • Financial Holding Companies (Approval etc) and Capital Requirements (Capital Buffers and Macro-prudential Measures) (Amendment) (EU Exit) Regulations 2020
  • Holding company regulatory transaction fees: PRA CP21/20
  • Operational resilience: PRA and ECB statements on supervisory cooperation
  • Shari’ah compliant non-interest based deposit facility: BoE speech
  • Implementing CRD V: PRA update
  • COVID-19: LSB resource for firms on problem gambling
  • COVID-19: EBA reactivates guidelines on legislative and non-legislative moratoria on loan repayments
  • Bank boards and supervisory expectations: ECB speech
  • SSM banks: ECB guide on climate-related and environmental risks
  • CRR: EBA final draft RTS on treatment of non-trading book positions subject to foreign exchange risk or commodity risk
  • SRB 2021 work programme and multi-annual programme
  • SRF: Eurogroup statement on early introduction of common backstop
  • BRRD II: European Commission notice on interpretation
  • Mitigating COVID-19 impacts: BCBS oversight body commits to coordinated approach and endorses future direction of work
  • Reporting on Principles for Responsible Banking: UNEP FI consults on guidance

Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020

The Bank Recovery and Resolution (Amendment) (EU Exit) Regulations 2020 (SI 2020/1350)[1] have been published, together with an explanatory memorandum[2]. The Regulations transpose aspects of the amending Bank Recovery and Resolution Directive (BRRD) (BRRD II), which make amendments to the EU bank resolution framework set out in the BRRD. They also correct deficiencies arising in retained EU law relating to bank resolution to ensure the UK maintains a fully functioning regulatory and legal framework following the end of the transition period.

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