Americas

Americas

This overview is a guide to the Lexis+®UK Banking & Finance content within the Americas subtopic, with links to the appropriate materials.

Leading law firms in different jurisdictions have prepared guides aimed at banking and finance lawyers which provide a summary of key issues that would be relevant in the context of a lender making commercial loan facilities available to a borrower

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Latest Banking & Finance News

CP25/6: PRA and FCA consult on amending PRA Rulebook and the FCA guidance on LTI ratios in mortgage lending

The Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) have published joint consultation paper CP25/6, proposing amendments to the Housing Part of the PRA Rulebook and to FCA general guidance in order to give effect to the Financial Policy Committee's (FPC) November 2024 recommendation on loan to income (LTI) ratios in mortgage lending. The proposed amendments concern increasing the de minimis threshold for the Loan to Income (LTI) flow limit in mortgage lending from £100m to £150m per four rolling quarters. This aims to address inadvertent regulatory tightening by increasing the value of residential mortgage lending that small lenders can extend before becoming subject to the LTI flow limit. Responses are sought by 8 May 2025, the limited consultation period reflects the narrow scope of the proposal and aims to ensure a swifter implementation.

PS25/2: FCA publishes policy statement on DTO and post-trade risk reduction services

The Financial Conduct Authority (FCA) has published policy statement PS25/2 on the derivatives trading obligation (DTO) and post-trade risk reduction services. It sets out feedback to CP24/24 and the FCA’s final rules on the classes of SOFR OIS (secured overnight financing rate overnight index swaps) subject to the derivatives trading obligation (DTO) and the framework for post-trade risk reduction services which aims to ensure investment firms benefit from various exclusions, including the exemptions from the DTO, best execution and the transparency requirements. The final rules will take effect on 30 June 2025.

OFSI releases Legal Services Threat Assessment Report on sanctions risks

The Office of Financial Sanctions Implementation (OFSI) has published its Legal Services Threat Assessment Report, examining threats and vulnerabilities relating to UK financial sanctions in the legal sector. The 24-page report forms part of OFSI's commitment under Economic Crime Plan 2 to provide sector-specific guidance, aiming to support legal sector stakeholders in developing risk-based approaches to sanctions compliance.

AFME publishes updated MiFIR/MiFID II implementation guide

The Association for Financial Markets in Europe (AFME) in conjunction with Linklaters, have published an updated implementation guide for EU and UK MiFIR/MiFID II reforms, covering developments from October 2024 to March 2025. The guide outlines changes including: the EU's new designated publishing entity regime for post-trade reporting, new bond and derivatives transparency requirements and plans for consolidated tape providers in both jurisdictions. It details implementation challenges arising from divergent EU-UK requirements, such as different approaches to systematic internaliser regimes and transaction reporting. The guide examines regulatory changes across market structure, transparency, market data pricing, consolidated tape development, transaction reporting systems and new payment options for investment research. The guide is focused on sell-side firms in wholesale secondary markets, however, it is also of wider interest to other market participants

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