Single resolution fund on schedule for 1 January 2016
The EU’s single resolution mechanism will enter into force, as scheduled, on 1 January 2016. This signals completion of the second pillar of Europe’s banking union. As of 30 November 2015, a sufficient number of member states ratified an intergovernmental agreement (IGA) on the transfer and mutualisation of contributions to a single resolution fund (SRF). This
US Treasury and IRS release updates to FATCA regulations
The US Treasury and the IRS released on 20 February two key updates to FATCA and related regulations: Final and temporary regulations for FATCA Coordinating regulations for Chapters 3, 4 and 61 These regulations are lengthy (over 550 pages) and contain numerous changes that will likely impact how FATCA is implemented by foreign financial institutions
