Banking
Banks, lenders, credit, regulation, and financial stability.
SEC clears path for UBS crisis resolution plan with key bail-in guidance
The SEC has told UBS it will not object to certain securities transactions the bank may need if Swiss authorities direct a crisis resolution, easing one legal obstacle to its bail-in planning.
US SEC clears path for UBS crisis resolution plan with key bail-in guidance
The SEC has reportedly told UBS it would not object to certain securities transactions the bank may need to carry out if Swiss authorities order a future resolution, removing a legal hurdle for its crisis plan.
FCA appoints new secondary-markets advisory committee
The UK Financial Conduct Authority has named 27 members to its Secondary Markets Advisory Committee for 2026-2028, expanding the panel from 25 seats and adding executives from JPMorgan, BlackRock, LSEG, Rokos Capital Management, Optiver and BP. The committee will advise the FCA on equities, fixed income, foreign exchange and commodities reform.
Brightline Buys Time as Bankruptcy Loan Talks Continue
Brightline extended a July 1 interest deadline to July 15 on $985 million of commuter bonds as it continues talks with creditors over possible bankruptcy financing and a broader restructuring.
Lagarde doesn’t rule out leaving ECB early, reviving French political speculation
Christine Lagarde said in a Les Echos interview that she would not rule out leaving the European Central Bank before her term ends in October 2027, renewing speculation that she could return to French politics.
Bank of England to push ahead with plan to limit hedge fund leverage
The Bank of England is moving ahead with plans to curb hedge fund leverage in the gilt market, likely by setting minimum haircuts on repo borrowing. The policy is intended to strengthen resilience after episodes of bond-market volatility, but investors warn it could raise funding costs and reduce liquidity.
SBI Mutual Fund IPO set for July 13, reports say
SBI Mutual Fund is reportedly preparing to launch its IPO on July 13, 2026, in a deal expected to raise about $1.2 billion after earlier SEBI approval.
UK car finance compensation scheme paused by tribunal
The Upper Tribunal has ordered a partial suspension of the FCA’s £9.1 billion motor finance redress scheme, delaying compensation calculations and payouts while lenders and a consumer group challenge the plan.
UK motor finance compensation scheme partially suspended due to legal challenges
The Upper Tribunal has partly suspended the FCA’s motor finance redress scheme while legal challenges are heard, delaying payouts but not ending lenders’ preparatory work.
Bank of England to test private markets against severe shock including 35% FTSE fall and 7% rates
The Bank of England has launched its first system-wide exploratory scenario for private markets, widening stress testing beyond banks to private equity, private credit, insurers and other investors. The five-year test includes a 35% FTSE All Share fall, Bank Rate at 7% and inflation at 7%, with results due in December 2026 and 2027.
Bank of England proposes trading capital changes as global regulators line up on Basel 3.1
The Bank of England’s Prudential Regulation Authority has proposed changes to trading-book capital rules under Basel 3.1, including longer data monitoring periods and a more targeted approach to non-modelable risks.
Canada's bank regulator cuts the domestic stability buffer
OSFI cut the domestic stability buffer for Canada’s six biggest banks to 3% from 3.5% effective immediately, easing a key capital requirement and saying the system still has enough prudential protection.
Bank of England plans to ease capital rules for banks’ trading activities
The Bank of England’s Prudential Regulation Authority is consulting on changes to trading-book capital rules, including a longer monitoring period and a more targeted treatment of non-modelable risks.
ASIC chair warns banks on wealth market return
ASIC chair Sarah Court has warned banks considering a return to wealth management and financial advice not to repeat the misconduct exposed by the royal commission. Speaking at the Australian Banking Association conference, she said lenders still too often get basic customer obligations wrong, while Westpac and ANZ have argued for a limited return to advice.
Rathbones changes onboarding after FCA skilled-person review
Rathbones said it will pause onboarding some enhanced-due-diligence clients for up to 12 months, restrict inflows from some existing higher-risk clients and stop charging fees on discretionary cash balances after an FCA skilled-person review.
EU resists banks' plea for major overhaul of capital rules
The European Banking Authority has set out limited simplification changes to EU bank capital rules, rejecting industry calls for a broader overhaul and saying the goal is to redesign the framework without weakening resilience.
Wealthy warned over Coutts copycat scam
The FCA has warned that fraudsters are impersonating Coutts through a clone firm using fake contact details and reference numbers. Coutts says it is working to remove fraudulent sites and will never ask clients to move money or share sensitive information in response to unexpected requests.
UK accountancy regulator opens investigations into MFS auditors
The UK’s accountancy watchdog has opened four investigations into auditors and accountants linked to collapsed mortgage lender Market Financial Solutions, widening regulatory scrutiny beyond the lender itself.
Flagstar extends Joseph Otting's term as CEO
Flagstar Bank said on May 18 that it extended Joseph Otting's CEO employment agreement through March 2028 and added several executive leadership updates.
SSA says Direct Express is moving to Fifth Third Bank as financial agent
The Social Security Administration says Treasury has selected Fifth Third Bank as the new financial agent for Direct Express. SSA says new enrollments begin in May 2026 and the transition for existing customers starts in summer 2026.
FCA, Bank of England, and PRA seek input on tokenisation in UK wholesale markets
UK regulators have launched a joint call for input on tokenisation in wholesale markets, alongside related Bank of England settlement-hours work and PRA guidance on tokenised asset exposures.
Hong Kong Monetary Authority issues scam alert related to banks
The Hong Kong Monetary Authority issued a scam alert on May 18 warning about bank-related fraud schemes using fake websites, login screens, phishing emails and instant messages.
Fed Holds Rates as Dissent Rises, Complicating Bank of Korea’s Next Move
The Federal Reserve held rates unchanged on April 29, 2026, but four dissents sharpened the policy divide just as the Bank of Korea weighs its next move.
Bank of England holds rates at 3.75% and warns inflation will stay elevated
The Bank of England held Bank Rate at 3.75% on April 30, 2026, and warned that higher inflation is likely in the near term because of energy-price shocks linked to conflict in the Middle East.