Tyler Woollard
Tyler Woollard

Compliance Consultant

Banking & Finance News

LexisNexis Current Awareness Latest current awareness content from LexisNexis

  • Joint Report on Multilateral Development Banks’ Climate Finance 2019 published
    on August 6, 2020 at 12:00 am

    The European Investment Bank has published its Joint Report on Multilateral Development Banks’ Climate Finance for 2019. The report provides an overview of climate finance committed in 2019 by the African Development Bank, the Asian Development Bank, the European Bank for Reconstruction and Development, the European Investment Bank, the Inter-American Development Bank Group, the Islamic Development Bank and the World Bank Group. The 2019 report summarises information on climate finance tracking from the Asian Infrastructure Investment Bank. It notes that this edition has been published amid the coronavirus (COVID-19) pandemic, ‘which has caused significant social and economic disruption, temporarily reducing global carbon emissions to 2006 levels. Countries now confront parallel threats of COVID-19 and climate change, as well as a unique opportunity to “build back better” by planning investments for more sustainable systems in place of the current carbon-intensive approach. Global commitment is necessary to deploy financial resources such as stimulus and recovery packages to help build inclusive, low-carbon and climate resilient economies.’

  • UKEF releases £2bn worth of direct loans for overseas clean growth projects
    on August 6, 2020 at 12:00 am

    UK Export Finance (UKEF) has issued new guidance on additional features to its Direct Lending Facility. UKEF provides direct loans to overseas buyers with an overall limit of £8bn, however, £2bn of that has now been allocated to support clean growth projects. The Clean Growth Direct Lending Facility is open to all projects that align with the UK’s Clean Growth Strategy and will be considered on a case-by-case basis. Examples include renewable energy production and transmission, energy efficiency in new and refurbished buildings, energy storage, coastal and marine biodiversity conservation and sustainable water and wastewater management.

  • ICMA provides update on the enforceability of close-out netting in China
    on August 5, 2020 at 12:00 am

    The International Capital Market Association (ICMA) has published an update on the enforceability of close-out netting in the People’s Republic of China (PRC). The update refers to the consultation draft of a ‘Notice on Issues Relating to the Rules for the Measurement of Default Risk Assets of Counterparties in the Trading of Derivatives,’ which was launched by the China Banking and Insurance Regulatory Commission (CBIRC) earlier in 2020. According to ICMA, the notice could have an impact on the industry opinion obtained by ICMA on the Global Master Repurchase Agreement (GMRA) for the PRC.

  • LSB updates Standards of Lending Practice for business customers to reflect CBILS and BBLS
    on August 5, 2020 at 12:00 am

    The Lending Standards Board (LSB) has updated the Standards of Lending Practice for business customers to take account of the UK government’s Coronavirus Business Interruption Loans Scheme (CBILS) and Bounce Back Loan Scheme (BBLS). The Financial Conduct Authority (FCA) has agreed to maintain its recognition of the standards and the changes that have been made.

  • Brexit Bulletin—briefing examines prospects and process for finalising deal on future UK-EU relationship
    on August 5, 2020 at 12:00 am

    The House of Commons Library has published a briefing looking at the status of negotiations on the future UK-EU relationship, following intensified talks and negotiating rounds held in June and July 2020. It looks at the negotiating timeline, following the recent announcement of further talks, and examines the prospects and process for finalising a deal by the end of the transition period on 31 December 2020.

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