Topic: Bank regulation

FATF and Hong Kong regulators target crypto and anonymity “red flags”

Reports released from the Financial Action Task Force and Hong Kong’s securities regulator have pointed to money laundering and terrorism financing “red flags” arising from the use of crypto asset exchanges.

28 September 2020

EU Commission gives UK CCPs 18-month equivalence post-Brexit

The European Commission has confirmed an 18-month equivalence for UK-based central clearing counterparties, giving EU banks a set timeframe to reduce their overexposure to derivatives clearing houses in Britain after the Brexit transition period ends.

24 September 2020

Brazilian and Colombian regulators step up green bond efforts

Colombia’s banking regulator has become the first in Latin America to issue a regulatory framework for green bonds, as Brazil’s central bank has also pledged its backing.

17 September 2020

US regulators pave way for higher capital distributions despite dissent

US banking regulators have finalised a measure allowing banks to make higher capital distributions under stressed financial conditions, over the objections of the minority members of the Federal Reserve and FDIC boards.

28 August 2020

Latvia ramps up AML push with fresh guidance

Latvia’s banking regulator has announced new anti-money laundering and counter-terrorism financing guidance, after fining local outfit Signet Bank €906,000 for AML failings.

26 August 2020

FSB guidance on CCP resolution risks uneven playing field, banks say

Financial institutions and industry groups have told the Financial Stability Board they need more detailed guidance on resolution for central counterparties (CCPs), warning that a lack of specific guidance could lead to “significant differences in CCP resolution regimes across jurisdictions”.

24 August 2020

Mexican regulator “overwhelmed” as Banco Famsa collapses

Mexico’s National Banking and Securities Commission (CNBV) has been “alarmingly” slow in responding to applications from new financial institutions and “lacks senior technocrats to answer the more complex questions”, as it takes heat over the collapse of domestic lender Banco Famsa.

21 August 2020

"No grey areas" around crypto as Germany introduces digital securities bill

Germany’s finance ministry has announced a blockchain-based digital securities bill as regulator Bafin confiscates ATMs belonging to a Polish-owned crypto provider.

19 August 2020

Union Bank liquidates in Liechtenstein

Liechtenstein regulators have de-authorised Vaduz-based Union Bank after it failed to find a backer to help it meet capital requirements – rejecting an offer from the CEO of a Malta-based cryptocurrency exchange.

18 August 2020

US and Brazil unveil instant payment systems

The US Federal Reserve has announced details of its interbank payment service FedNow despite scepticism over potential competition with the private sector, as the Brazilian central bank reveals a launch date for its own new payments system network, Pix.

14 August 2020

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