2018/2019 Edition of the Global Regulatory Update

Contents PART I: Issues affecting the banking industry and the broader market 7 1) Open Banking and the intersection with other laws 7 2) Capital, liquidity, leverage 9 a) The Basel framework: next steps towards Basel 9 b) Basel III in Europe 11 c) Basel III in U.S. 13 3) Bank Structural Reforms and Recovery & Resolution 15 a) European Bank Recovery & Resolution Directive 15 b) U.S. Volcker Rule 18 4) Taxation measures: 19 a) OECD BEPS 19 b) Common Reporting Standard (CRS) 24 PART II: Regional regulatory and market changes 27 EMEA 27 1) UK Brexit 27 2) Payments 29 a) The Single Euro Payments Area (SEPA) & Instant Payments 29 b) The European Payment Services Directive II (PSD) 30