As we have already begun some aspects of the year-end festive season, this week's newsletter includes insights from our authors on crucial developments shaping the financial landscape.

The OCC released its Annual Report this week, and I commend it to anyone interested in the OCC’s view on the state of the condition of the federal banking system (spoiler alert: the condition of the banking system is sound, but there are improvements that can be made and stakeholders should be on guard for complacency). However, this week I cover FDIC Director Jonathan McKernan’s speech to an ISDA conference regarding the Basel III Endgame proposal’s effect on the trading book and a suggestion for a possible phased approach to finalizing the rule.    

Alix Prentice delves into the UK’s Banking Regulator’s latest moves, providing a comprehensive breakdown of the Prudential Regulation Authority's publication of near-final policy statements. She explores the intricacies of the seven chapters outlined in consultation paper 16/22, shedding light on the implementation of Basel III standards and its potential impact.

Rachel Rodman brings a detailed analysis of the European Banking Authority's recent report. Focusing on the evolving landscape of environmental and social risks, she examines the EBA's insights, emphasizing the necessity for a robust prudential framework to address these emerging factors.

As we gear up for the holidays and turning the calendars to a new year, we want to express our heartfelt gratitude for your unwavering support. To rejuvenate and prepare for an exciting start to 2024, we'll be taking a brief hiatus and returning in January. 

We’re always here for comments and questions. Just drop us a note here. 

Daniel Meade 
Partner and Editor, Cabinet News and Views