This week has seen the LSB publish findings from its third party outsourcing review
REGULATORY
FSB final guiding principles on temporary funding needed to support the orderly resolution of G-SIBs
The Financial Stability Board (FSB) has published guiding principles on the temporary funding needed to support the orderly resolution of a global systemically important bank (G-SIB). The guiding principles seek to address the risk of banks having insufficient liquidity to maintain critical operations during a period of inability to roll over short-term borrowing or loss of access to other sources of credit.
FSB, 18 August 2016
UK
LSB third party outsourcing themed review findings published
The Lending Standards Board (LSB) has published findings from its review of third party outsourcing. It concludes that firms operate in a well controlled environment regarding their outsourcing activities. The report focused on UK outsourced arrangements. The LSB believes that overseas outsourcing arrangements are a greater risk, which means that outsourcing arrangements will continue to be an area of focus in the LSB's new oversight strategy.
LSB, August 2016
Munnypot launches a robo-advice service
Munnypot has launched an automated service which allows users to set life goals and then invests money on their behalf in one of five tracker products. The service launched an online platform and an app will follow shortly. The service is backed by SEI Wealth Platform.
Professional Advisor, 18th August 2016
BSA Q2 results find building societies are driving growth in the mortgage market
The Building Societies Association has published mortgage lending and savings data for Q2 2016, finding that societies maintained their strong mortgage market share of 30% of new mortgages approved. Gross lending by building societies was £15.9bn in Q2, 16% higher than the figure for Q2 2015.
BSA, 15 August 2016
EU
Monetary policy meeting of the Governing Council of the ECB
The July meeting reiterates the need to monitor economic and financial market developments amid current uncertainties and notes the Governing Council's willingness to use all instruments available within its mandate to achieve its objective of price stability.
ECB, 18 August 2016
