Proposals For An Improved European Banking Union Framework – Part II

In the first part of this article, we dealt briefly with the European Commission’s proposals to further strengthen and ensure the proper application of the existing common framework for managing bank failures, through the publication of a proposed package amending the framework on banks’ crisis management and deposit insurance (“CMDI”) on 18 April 2023.

We also saw that the Commission is proposing to widen the scope for applicability of the European banking resolution regime to cover […]

By | Dec 30, 2024 ||

Malaysia: Financial Institutions Do Not Owe A Duty Of Care To Non-Customers

On 26 July 2023, the Federal Court allowed the appeal against the Court of Appeal’s decision in Koperasi Sahabat Amanah Ikhtiar Bhd v RHB Investment Bank Bhd [2022] 6 MLJ 722, where the Court of Appeal had extended the duty of care owed by financial institutions to non-customers.

One of the questions of law posed to the Federal Court was whether a financial institution owes a duty of care to third parties who are not its customers […]

By | Dec 28, 2024 ||

UK: Bank Of England Launches First System-wide Exploratory Scenario Exercise

The Bank of England has announced the launch of its first system-wide exploratory scenario (SWES) exercise and published a new webpage setting out relevant information.

The Bank has asked a group of banks and non-bank financial institutions (NBFIs) to provide information on how they react to turbulence in financial markets, such as the gilts crisis in autumn 2022.

The Bank hopes to enhance its understanding of the risks to and from NBFIs, and the behaviour of NBFIs […]

By | Dec 26, 2024 ||