UK-U.S. Working Group meets

UK and U.S. participants held the 6th meeting of the UK-U.S. Financial Regulatory Working Group online on the 21st of July 2022, with present officials including senior staff from HM Treasury and the U.S. Department of the Treasury. The Working Group was formed in 2018 to improve regulatory cooperation with the aim to further improve financial stability and capital formation in both jurisdictions.

At this meeting participants discussed recent matters such as market developments since Russia’s invasion of Ukraine, risks in Non-Bank Financial Intermediation, Basel III reforms and LIBOR transition, among other things.

The participants are expected to do follow up work on this, and address further topics at the next Working Group meeting, which is expected later in 2022.

Emma Radmore