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The sustainability disclosures game – away from the ESG alphabet soup?

Global banks currently face an abundance of ESG disclosure regimes, but a select few are starting to emerge as the gold standard. GBRR heard from practitioners in the US, EU, Australia, Brazil and the UK about how banks can expect their disclosure regimes to evolve.

22 March 2023

SVB’s parent spars with FDIC over “improper” freezing of US$2.1 billion

Silicon Valley Bank’s parent company, advised by Sullivan & Cromwell, has hit out against the US Federal Deposit Insurance Corporation for actions they say have blockee the company’s access to accounts containing more than US$2.1 billion.

22 March 2023

Regulatory regime will need re-examination post-SVB, Yellen says

US Treasury secretary Janet Yellen has told a banking industry conference that she would be prepared to step in to protect small banks if they face the risk of deposit runs following the collapses of SVB and Signature Banks, as the first congressional hearing in the wake of the failures heard conflicting partisan versions of what happened to the two financial institutions.

21 March 2023

NFTs are not securities, BaFin says

Germany’s financial regulator has said it will judge the nature of non-fungible tokens on a case-by-case basis rather than issuing a blanket definition, in its long-awaited views on NFT oversight.

21 March 2023

UBS to absorb Credit Suisse, with AT1 bonds written off

Switzerland’s two G-SIBs are set to become one, in a regulator-brokered deal which has unexpectedly written off the beleaguered Credit Suisse’s AT1 bondholders following a week of mounting concern over the bank’s future.

20 March 2023

Sullivan & Cromwell advising as SVB parent files Ch11

The parent company of Silicon Valley Bank, which was taken over by US regulators following its collapse last week, has sought bankruptcy protection in New York while it explores a potential sale of its remaining assets.

20 March 2023

IIB Washington: tackling the new age of cyber attacks

As cyberattacks continue to mount, experts at the Institute of International Bankers’ recent annual conference in Washington, DC discussed how to handle attacks, the challenges of upgrading systems to keep pace, and the coming empowerment of firms’ chief information security officers.

17 March 2023

Credit Suisse seeks US$54 billion liquidity boost from central bank

Credit Suisse has applied for a US$54 billion lifeline after the Swiss central bank accepted that it would have to provide it with extra liquidity – but practitioners say the bank’s business model, rather than its immediate liquidity issues, will require the most attention.

16 March 2023

British MPs query ringfencing exception in HSBC’s purchase of SVB UK

The terms of HSBC’s £1 purchase of Silicon Valley Bank UK are coming under scrutiny from UK lawmakers, who have questioned why HSBC required exemptions from the UK’s ringfencing regime as a condition of the transaction.

16 March 2023

SVB-Signature aftermath prompts increased scrutiny of interest rate risk

Practitioners expect “two to three years” of increased regulatory attention to liquidity and risk management in response to the collapses of Silicon Valley Bank and Signature Bank.

15 March 2023

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