The deputy head of the Bank of England, Sam Woods, addressed bankers in the City of London with an appeal to create additional reserves to counter the risks associated with the British exit from the European Union. He recalled that the lack of agreement between the UK and the EU on the conditions of Brexit, which had to be reached no later than November, speaks of the reality of its “hard” version. As previously reported, the Bank of England intends to allow European financial institutions to conduct their business in the UK, even in the absence of a transition period. The regime of temporary permits, which will establish the British regulator, will be valid until March 2022.
The Bank of England will announce next week how quickly it expects the economy to recover from the coronavirus pandemic, but it is unlikely to add to the 100 billion pounds of the fiscal package it released in June. Britain’s economy ...
On Monday, Deutsche Bundesbank’s President Jens Weidmann said in a newspaper interview that Germany would toughen its auditing and accounting regulations to prevent another scam like the Wirecard scandal. Wirecard AG (WDI), a financial ...
The Securities and Exchange Commission (SEC) announced on Monday that UBS Financial Services Inc. (UBSG) would pay more than $10 Million to resolve charges regarding certain municipal bond offerings. UBS has agreed to pay the fine after SEC ...
Major Japanese banks saw record demand for the corporate loans that were offered since April as the COVID-19 pandemic continues to have companies rushing in to build up cash reserves, according to a central bank survey on Friday. The figures ...
On Thursday, the European Court of Justice (ECJ) rejected the validity of the data transfer mechanism used by the European Union and the United States which could facilitate the transfer of data from both countries. The data transfer tool ...