ALMA response to the PRA’s “Supporting liquid asset usability” discussion paper
A number of our members answered ALMA’s call for input regarding the Bank of England (BOE) / Prudential Regulation Authority (PRA) discussion paper on “Supporting liquid asset usability”. The working group believed, like the BOE and PRA, that buffers of High Quality Liquid Assets (HQLA) are not usable in practical terms, for a number of reasons. Our response highlighted the regulatory direction of travel over the past decade towards increasing overall levels of HQLA, increasing liquidity requirements beyond Pillar 1 standards, requirements for continuous compliance with the quantitative regime, increased regulatory focus during actual or perceived periods of stress, and a regulatory reporting regime anchored to calendar 90-days (an implicit buffer versus the 30-day Liquidity Coverage Ratio horizon). These have all contributed to an environment where firms (and particularly their Boards), regulators, and other market participants are all conditioned for LCRs to never drop below 100%.
Read our full response for more details, as well as our suggestions to help make HQLA more usable. We will continue to engage with the BOE / PRA as future consultations are published, and we will reach out again to members to participate.
The John Cummins Award for Outstanding Academic Achievement – July 2022
We were delighted to finally meet some of our CertBALM®ers last night at a prize-giving dinner for our most recent cohort of students. Yijing Li from MUFG Securities was awarded the trophy for Outstanding Academic Achievement by John Cummins, Honorary President of ALMA and Co-Chairs, Chris Blake and Charles Wood. Thomas Wilson and Anant Goel were the second and third placed candidates. Huge congratulations to you all. ALMA ESG Working Group April 2022
Masterclass: The Green/ESG Agenda: Can banks be the catalyst for change?
Tuesday 3rd May, 12:30 – 1:30pm via Zoom.
Ahead of ALMA’s Masterclass on ESG next week on 3rd May – BOOK NOW, we at the ALMA ESG Working Group thought it might be helpful to have a look across the major UK firms’ ESG commitments and identify the aspects that would be most relevant as Treasury and ALM functions play their roles in contributing towards meeting these goals. Download the summary of some of our initial observations and thoughts. We hope you find this useful. ALMA is keen to continue our active engagement with Member organisations on these topics.
NSFR implementation in the UK
On 19th October, ALMA hosted a small group discussion on the topic of the upcoming NSFR implementation in the UK. We were joined by 15 practitioners from a range of large and smaller UK banks, who were keen to discuss the varied nuances in the final rules as well as any potential challenges and implications on banks’ business models or international competitiveness. You can download the NSFR Discussion Forum article here.
Article IFRS 9 Governance, by Paul Ashton
Paul Ashton, Head of Consulting at KnowCo Limited, gives us a short article contains suggestions for areas of automation that are practical and will promote transparency and data integrity. Click here to see the full article.
New Members
ALMA is delighted to welcome two new Members: Zenith Bank (UK) Limited and Castle Trust Bank.
ALMA Discussion Forums on PRA implementation of BCBS 368
Notes from ALMA Discussion Forums on PRA implementation of BCBS 368 can be found here
New Members
Private Infrastructure Development Group (PIDG) Ltd
ALMA would like to welcome Private Infrastructure Development Group (PIDG) Ltd as a new Member.
John Cummins Award for Outstanding Academic Achievement
21st September 2020
Samantha Fiveash from Nationwide Building Society was the latest CertBALM® student to be presented with the John Cummins Award for Outstanding Academic Achievement. Charles Wood, HO Balance Sheet Risk at Nationwide and ALMA Board Member, presented a surprised and delighted Sam with her trophy last week. She is the second winner of the award from Nationwide Building Society. Congratulations to Sam from everyone at ALMA on an incredible achievement.