The latest edition of Banking and Capital Markets Insight covers significant issues in respect of the role of compliance, the liability of depositaries under the Alternative Investment Fund Managers Directive, counterparty risk requirement for trade finance, the application of a potential financial transaction tax in Europe and the delays to the issues of the revised IFRS 9.
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Retail banking
There’s no doubt that these are difficult times for the UK banking sector, but battening down the hatches isn’t going to be an adequate response to either the credit crunch or the reputational battering to which it has given rise. At the same time, previously existing challenges haven’t disappeared – offshoring, the rise of private equity competitors, the cost-reduction imperative and the future of the branch network in the UK and overseas continue to ask questions of banks’ leaders.
Our retail banking team provides a range of services tailored to the needs of retail banks and building societies; from audit and tax advice, regulatory counsel and fraud investigation to business transformation focusing on strategy, operations, human capital, enterprise applications, outsourcing and technology integration. With strong relationships with many of the UK’s leading as well as newly emerging banks and building societies, our technical expertise is informed by a deep understanding of sector issues and the evolving environment in which organisations are operating.
To see how we work with our banking clients to tackle the evolving regulatory challenges facing them please view the clip below:
Retail banking research and insight
Retail banking issues and trends
- Independent Commission on Banking
In its final report, published on 12 September 2011, the Independent Commission on Banking proposed radical changes to the way banks authorised in the UK structure themselves and manage their retail banking activities. - Basel
The new bank capital and liquidity standards issued by the Basel Committee on Banking Supervision are nearly finalised. Basel III is designed to make the banking system more resilient to shocks by strengthening regulation, supervision, risk management and transparency. - Living Wills
Regulation regarding recovery and resolution plans for banks is currently considered by many national and international regulators. - International financial reporting standards (IFRS)
There is still much to do regarding embedding IFRS as a suite of new accounting rules is under consideration by IASB, whose current agenda includes many projects impacting financial services organisations.
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