November saw the appointment of Mark Carney as the
Governor of the Bank of England and, accompanying the G20
meeting in Mexico City, several reports by the Financial Stability
Board (FSB), in particular on recovery and
resolution; intensity and effectiveness of SIFI
supervision; shadow banking; and a revised list of
globally systemically important banks (G-SIBs).
As usual this note is produced for information only, on a best
efforts basis, and does not constitute advice of any kind.
Capital (including stress testing)
The European Banking Authority (EBA) wrote
twice to Commissioner Barnier regarding provisions in the Capital
Requirements Regulation (CRR). In its first letter, on the
definition of own funds, it raised concerns over recent amendments
to the legislative text, specifically on the quality of common
equity tier one capital; and the introduction of multiple dividends
for some capital instruments. In its second letter the EBA
noted the lack of a
