COVID-19 and financial services
COVID-19 raises a range of financial services issues which firms and businesses will be managing through over the next weeks and months.
Banking
Practical guidance, commentary and support on the banking sector for financial services professionals.
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Banking Focus
How furlough schemes could change bank investments
Banks may come under pressure when furlough schemes end, writes journalist Daniel Lanyon.
Five things we learned about Nikhil Rathi
Commissioning editor Brian Cantwell covers five areas the new head of the FCA wants to focus on.
Culture not crisis
The FCA has looked at financial services firms’ remuneration policies and has encouraged a continued focus on culture rather than crisis, Financial Services Faculty commissioning editor Brian Cantwell writes.
Four key LIBOR transition announcements you should know
Key summer 2020 LIBOR transition announcements further solidify the ever looming 2021 year-end date, writes Financial Services Faculty Risk and Regulation Technical Manager John Mongelard.
IFRS 9
COVID-19 and Stress Testing
Stress testing is an important tool that is used by regulators for an increasingly wider set of firms. This webinar will help you understand the latest rules and how they work with the latest accounting standard, IFRS 9.
ICAEW publishes guide to IFRS 9 and COVID-19
20 April 2020: ICAEW’s Financial Services Faculty has published a guide to help banks and their auditors deal with the effects of coronavirus on financial reporting under IFRS 9 Financial Instruments.
COVID-19 and IFRS 9 expected credit losses for banks
The subjective nature of IFRS 9 Financial Instruments means banks are facing difficult decisions when it comes to applying the standard in a world grappling with the health and economic impacts of coronavirus.
Practice Committee Meeting - pre-meeting papers 4 March 2020
Pre-meeting papers for IPC meeting held on 4 March 2020
Regulation
Conducts, codes and COVID
The Treasury Select Committee heard from the head of the FCA about government efforts to fund businesses through the coronavirus pandemic
COVID-19 and IFRS 9 expected credit losses for banks
The subjective nature of IFRS 9 Financial Instruments means banks are facing difficult decisions when it comes to applying the standard in a world grappling with the health and economic impacts of coronavirus.
David Smith: economics and pandemics
The Sunday Times economics editor David Smith looks at the effect that pandemics have on economies and the challenge of coronavirus.
Libor transition - what you need to know
What is LIBOR and what you need to know
Find out what is IBOR reform, why LIBOR will be phased out and why it matters as well as the plan for the UK, challenges and risks.
IBOR reform for UK businesses – preparing yourself
How to prepare your business for the changes to IBOR, specifically when LIBOR will cease to exist in 2021.
Transitioning from LIBOR
The end of LIBOR will mean some big changes for businesses. The end date of December 2021 may seem a long way off, but companies need to start preparing now.
Corporate governance
ICAEW publishes guide to IFRS 9 and COVID-19
20 April 2020: ICAEW’s Financial Services Faculty has published a guide to help banks and their auditors deal with the effects of coronavirus on financial reporting under IFRS 9 Financial Instruments.
8 ways the 5th Anti Money Laundering Directive will affect financial services firms
The European Commission are now applying more focus on anti-money laundering risks and have said that they may open infringement proceedings against countries lagging behind on the new anti-money-laundering rules.
TSB IT fiasco a corporate governance failure
Laura Miller discovers the corporate governance failings that led to the TSB IT crash, which left customers locked out of online accounts and drew regulatory attention.
Counting on ethics when it comes to data management
Paula Smith examines how a strong ethical approach can help financial services firms cope with the changing world of data management
Pre-recorded webinars
COVID-19 and Stress Testing
Stress testing is an important tool that is used by regulators for an increasingly wider set of firms. This webinar will help you understand the latest rules and how they work with the latest accounting standard, IFRS 9.
LIBOR Transition webinar
This webinar will give help gain an expert view on priorities for LIBOR transition, associated conduct risks and practical actions to take.
SMCR and December 9 2019 Go Live
Delegates of this webinar will hear from experts who have seen implementation at a number of firms and sectors. These experts share best practice and proportionate approaches to SMCR.
Helpsheets
Reliability of regulatory returns how ICAEWs guidance can help
ICAEW’s Financial Services Faculty has guidance which can help banks and advisors respond to the issues raised in the recent Dear CEO letter from the Prudential Regulation Authority.
IFRS 9 - Briefing note for non-technical audience
Briefing paper from the Financial Services Faculty for a non-technical audience.
IFRS 9 - Briefing paper for analysts and other market participants
Briefing paper from the Financial Services Faculty.
Banks Ring-fencing
Bank ring fencing is a response to the banking crisis and aims to separate the 'core activities and services' (deposits, payments and overdrafts) performed by banks from their investment banking operations.
Inspiring confidence
ICAEW's Inspiring Confidence campaign explores the issues affecting consumers and financial services providers in a rapidly changing world.
Banks, insurers and investment managers play vitally important roles within society, to encourage economic development and allow individuals and businesses to save, invest, insure and make payments. We must have confidence in them. Responsible providers, responsible consumers, better regulation and better information underpin this confidence.
Join Banking membership
Banking is fast moving and ever changing. Our unique perspective and ability to convene with stakeholders right across the financial services landscape, means we can provide you with industry insights, expert opinion, analysis and independent resources to put you ahead of the curve.