United Kingdom
Legal charges topped £6 billion at UK banks in 2018
Majority of costs relate to legacy issues, including PPI and RMBS mis-selling
FCA steps up anti-money laundering spot checks
UK watchdog changes fincrime head amid speculation AML spot visits increasing because of critical FATF review
Top UK banks cut CVA capital by £190 million
Barclays and StanChart are only two banks with higher CVA capital requirements in 2018
Brexit to deliver further blow to Mifid transparency data
Market participants say duplicate reports in UK and EU will result in misleading public data
Once bitten, twice shy: UK traders wary of inflation reform
Proposals to fix RPI methodology flaws are back on the agenda, but traders have been caught out before
Differing European approaches may hamper Ibor transition
While sterling shifts to Sonia, efforts to save Euribor create euro multi-rate uncertainty
Securitisations push Barclays' market risk capital higher
UK bank reports 37% hike in securitisation capital charge year-on-year
‘No way’ to avoid no-trade lists in no-deal Brexit
EU clients are likely to sever some cross-border ties with UK banks
Firms fear Mifid-style reporting crunch for Brexit day one
Operational clarity still needed to fully implement system changes in time for April 1
PRA's Pillar 2 add-ons reflect mixed verdict on UK banks
Median CET1 Pillar 2A charge for big six banks rises to 2.25%
Brexit threatens to trip up derivatives reporting
Split will increase firms’ workload and costs, and result in less-accurate regulatory reports
European and UK G-Sibs cut leverage at year-end
Barclays posted the largest quarterly increase of 60bp
Escalating global threats make for harsher BoE stress test
World GDP assumed to contract 2.6% in 2019 scenario
Execution issues dominate UK bank op risk losses
This category of risk accounted for 47% of op risk losses on average at five banks
UK banks find various ways to de-risk
Risk-weighted assets fall despite loan growth at four of big five lenders
Time running out for Brexit data compliance, Bailey warns
FCA head also highlights shortfall on Mifid trading venue equivalence
UK quant academics fear Brexit brain drain
Brexit hitting graduate jobs, funding and “driving European academics away from the UK”, say universities
Legal fines dent StanChart profits
The bank put aside $900 million last year to cover penalties related to a series of investigations
Ring-fencing law swells Lloyds’ swap book
Recognition of intra-group trades boosts leverage exposure measure and CCP charges
UK banks build liquidity buffers ahead of Brexit
Four high street lenders boost HQLA by 11% in 2018
UK banks' ECL scenarios vary
Projected economic outcomes most widely dispersed at Barclays
Model expansion cuts Barclays' counterparty risk by 24%
Total CCR risk-weighted assets shrink on modelled exposure measurement approach approval
Debt-issuance spree helps Lloyds hurdle MREL target
Total funds and eligible liabilities rose to £66.8 billion at the end of last year, up 23% from 2017
Cleared swaps grow 10 times faster than bilateral at HSBC
Total derivatives notionals up 25% year-on-year