Regulation NatWest's insights into Regulation

RegulationHow tough is Tough Legacy? FCA announcement on synthetic LIBOR

On 29 September the FCA1 announced that 1) they will require benchmark administrators to publish a ‘synthetic LIBOR2 rate’ post cessation during 2022 for Sterling & Yen, and 2) they are launching a consultation on permitted uses of these synthetic rates.

RegulationAre you ready for ISDA 2021 Definitions on 4th October?

On 4 October 2021 the International Swaps and Derivatives Association (ISDA) go live with the new 2021 ISDA Interest Rate Derivatives Definitions that they published in June. Are you ready, and what does it mean?

RegulationOlympic sprint through some recent regulatory developments

Anyone watching the Olympics will be used to flipping between events. So, in this spirit of variety, here's a quick sprint through a mixed bag of recent regulatory developments.

ESGWho ate all the PIEs? The inexorable rise of ESG reporting.

In April the EU announced the proposed extension of ESG reporting requirements from covering large Public Interest Entities (PIEs) under NFRD (around 11,000 companies in EU) to covering all large companies under CSRD (around 50,000 companies).

ESGEuropean Commission takes further steps towards sustainability and improving sustainable finance

The European Commission has adopted a comprehensive package of measures to further help increase the flow of money towards sustainable activities. Get our analysis here.

ESG/SustainabilityESG and regulation – carrot or stick?

With the post financial crisis wave of regulation largely implemented one could be forgiven for expecting the regulatory waters to be a little calmer.

RegulationIt's the LIBOR endgame

Andrew Bailey has been channelling his inner Thanos recently, as we move into the 'endgame' for LIBOR transition.

RegulationThe news of my death has been greatly exaggerated…LIBOR ending before 2021?

"LIBOR death notice could be served this year - FCA". Did you see the article and did it leave you confused?

RegulationUS and them....who's winning the LIBOR race?

Six announcements from ARRC in the first two weeks of May. Does this signal a surge of progress in the US ahead of ISDA protocol publication, CCP discounting switch and perhaps finally a path for conventions?

RegulationSterling LIBOR loans deadline extended to Q1 2021, but pressure still on

RFR working group announces deadline for ‘no new £ LIBOR loans’ extended to end Q1 2021

RegulationNever discount the value of extra time…EONIA to €STR move delayed to 27 July

On 17 April 2020, the LCH announced a 5 week delay to 27 July for the move from EONIA to €STR discounting for cleared trades due to concerns over operational risks created by COVID-19.

RegulationInitial Margin changes: I'm marginally happy for the extra year. Are you?

The industry asks and the industry gets. A very welcome message from the BCBS IOSCO that the final 2 phases of Initial Margin have been delayed by a year each.