Courtesy of Mete Feridun In March 2018, the UK and EU27 reached an agreement on the terms of a transitional period following the UK’s withdrawal from the EU. However, the terms of this deal are conditional on both sides agreeing to a final withdrawal treaty (“Withdrawal Agreement”). Since Boris Johnson’s ascension to Prime Minster in July, this prospect has grown increasingly unlikely,… Read More »
Courtesy of Lee Reiners and Joseph A. Smith Jr. This case study draws primarily—and in some instances quotes verbatim—from the “Report on the Non-Resident Portfolio at Danske Bank’s Estonian Branch” prepared for the Bank on September 19, 2018, by the law firm Bruun & Hjejle.[1] Additional details are derived from other sources, including Danske Bank… Read More »
Courtesy of Alberto Manconi, Fabio Braggion, and Haikun Zhu The Global Financial Crisis led economists and regulators to refocus on the relationship between household leverage and macroeconomic performance. The ensuing debate has revolved around how best to contain household debt using a variety of approaches, with much emphasis being placed on loan-to-value (LTV) caps, i.e.… Read More »
Courtesy of Mete Feridun* Although operational risk capital requirements drive a substantial proportion of banks’ capital requirements, quantification of cyber incidents still represent a relative “backwater” of the ever-evolving global regulatory framework. Surprisingly, the new “Basel IV” operational risk framework does not include any specific reference to cyber risks. While regulators expect firms to integrate… Read More »
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