Josina Kamerling, head of regulatory outreach at CFA Institute for the Europe, Middle East, and Africa region, reports on EU policy issues. The podcast covers the May European Parliament election results, including commentary on the related protest movement (in response to the recent financial, social, and economic crisis) and resulting rise of Euroscepticism. For more information on these topics, listen to parts one and two of this podcast series:
LCH says it has not seen a shift in euro-denominated clearing to the Continent, despite predictions the move would occur after Brexit. But EuroCCP CEO Cecile Nagel says, "The direction of travel is clear: There is going to be ongoing effort to drive more activity into Continental Europe." The Trade (UK) (20 Feb.)
The Australian Prudential Regulation Authority is increasing surveillance of whether financial institutions are ready to deal with risk posed by climate change by stress-testing climate resilience. Meanwhile, the Reserve Bank of Australia is trying to understand the "full dimensionality" of the economic impact from climate change. BNN Bloomberg (Canada) (20 Feb.)
A study by Capco shows banks, custodians and buy-side firms need to find $97 billion in untapped assets to comply with EU and US regulatory requirements. These requirements have increased in recent years, and "while firms still need to focus on efficiencies and optimization, they will also need to tap previously neglected or unrecognized pools of collateral," Capco partner James Arnett says. The Trade (UK) (20 Feb.)
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