March 18, 2011 The European Banking Authority (EBA) today published documents explaining the scenarios and methodology for its 2011 EU-wide stress test, which will be applied on a wide sample of European banks covering over 60% of total EU banking assets. The EBA was established on 1 January 2011 with a broad remit that includes safeguarding the stability of the EU financial system. The EBA is required, in cooperation with the European Systemic Risk Board (ESRB), to initiate and coordinate Union-wide stress tests to assess the resilience of financial institutions to adverse market developments

CFTC Testimony March 17, 2011 CFTC Chairman Gary Gensler states his support for the notice of proposed rulemaking on the Authority to Designate Financial Market Utilities as Systemically Important, noting that "it is an important step in fulfilling the requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act to ensure that there is robust oversight and risk management of financial market utilities, including clearinghouses." Cross References Dodd-Frank Act, Title VII

Financial Services Authority March 17, 2011 The FSA has published the Prudential Risk Outlook (" PRO"), which sets out its assessment of macro economic and financial trends as a context for its micro-prudential regulation and supervision of firms. Over the past two years the capital and liquidity position of the UK banks has improved significantly, increasing resilience to shocks. But the PRO describes still important risks to financial stability. It highlights in particular: incomplete progress in deleveraging required to create a less vulnerable system; progress towards improved global

Financial Services Authority March 16, 2011 In a speech entitled 'Leverage, Maturity Transformation and Financial Stability: Challenges Beyond Basel III', Lord Turner, chairman of the FSA, stated that: that already agreed regulatory reforms will have a major beneficial impact, but further reforms are needed to make the financial system stable; and that regulators need to recognise that the financial system will continually mutate, creating new risks, and requiring a continually evolving regulatory regime. Lord Turner stated three conclusions for public policy: (i) Basel III capital standards

CFTC Dodd-Frank Rulemaking 76 FR 14825 March 18, 2011 Closing Date: 4/18/2011 The CFTC is extending the comment period for proposed regulation 38.502(a) ("Minimum Centralized Market Trading Percentage Requirement"), in light of the recent public release of the off-market volume data referenced by the Commission in the Federal Register release for the notice of proposed rulemaking for "Core Principles and Other Requirements for Designated Contract Markets", 75 FR 80572 (Dec. 22, 2010). The comment period is being extended for this regulation to permit interested persons to submit comments on