Basel III & beyond: revised Liquidity Coverage Ratio (LCR)
Background to the changes The key changes High Quality Liquid Assets Cash outflows and run-off rates Cash inflows Application of the metric Monitoring tools PwC preliminary assessment Introduction On 7 January 2013 the Basel Committee on Banking Supervision (BCBS) issued a finalised standard on the Liquidity Coverage Ratio (LCR). The LCR forms one of
Tax issues around interest from fixed-income securities: new circular letter
On 25 January 2013, the Belgian tax administration published a circular letter on the Belgian tax regime of structured products characterised by an uncertain return on investment given the variation of the coupons or the modalities of reimbursement at term. Are in scope of this circular the securities whose return is linked to the evolution
Final FATCA regulations issued: let the compliance begin
In brief Stakeholders patiently waiting for guidance regarding the Foreign Account Tax Compliance Act (FATCA) need not wait any longer – final regulations were issued along with a press release on January 17, 2013. FATCA was enacted as part of the Hiring Incentives to Restore Employment Act (HIRE Act) on March 18, 2010 to serve
AIFMD: the finer details take shape
The European Commission (EC) finally published its delegated acts (the Level 2 Regulation) under the Alternative Investment Fund Managers Directive (AIFMD) on 19 December 2012. The EU Parliament and the Council have three months to scrutinise the Regulation but the likelihood of rejection by them seems quite low. The Level 2 Regulation has had a
United States and Ireland sign a bilateral FATCA Intergovernmental Agreement
On 21 December 2012, the Chargé d’affaires at the US Embassy in Ireland and the Minister for Finance of Ireland signed an intergovernmental agreement (the US-Ireland IGA) under the provisions commonly known as the Foreign Account Tax Compliance Act (FATCA). As anticipated, Annex II of the US-Ireland IGA specifically identifies the Irish institutions and products
