Topic: Banking regulators

Privatbank bail-in recognised in UK

The Bank of England has recognised the bail-in of Privatbank, Ukraine’s largest commercial bank.

17 May 2021

Facebook’s Diem makes a leap for the US

Facebook-backed digital currency project Diem – formerly Libra – has withdrawn its payment system licence application in Switzerland, instead announcing a shift to the United States alongside a partnership with crypto-friendly bank Silvergate.

14 May 2021

OCC names acting comptroller

The US Treasury has appointed Michael Hsu as acting Comptroller of the Currency, replacing Trump appointee Blake Paulson, as tensions around community reinvestment and true lender rules increase.

10 May 2021

ECJ affirms ECB’s “likely to fail” powers after Latvian bank appeal

Europe’s highest court has dismissed an appeal from now-defunct Latvian bank ABLV, affirming the European Central Bank’s capacity to declare banks “failing or likely to fail”.

10 May 2021

Fed proposes fintech access guidelines

The US Federal Reserve has proposed new guidelines on granting fintechs access to its payment system – as the banking industry raises concerns over access for “uninsured and lightly regulated” entrants.

07 May 2021

SRB issues liquidity resolution guidance

The EU’s Single Resolution Board has asked banks to estimate their liquidity needs in resolution scenarios, in the first new guidance it has published under an expectations policy it issued last year.

05 May 2021

APRA consults on remuneration guidance after rigidity complaints

Australia’s prudential regulator is consulting on the country’s remuneration guidance ahead of a prudential standard to be finalised later this year, as Dutch authorities also prepare to overhaul their remuneration rules.

04 May 2021

Cyber-attacks prompt third-party supply scrutiny in New York and New Zealand

An investigation into the 2020 SolarWinds attack has prompted the New York State Department of Financial Services to call for increased third-party supply scrutiny, while the Reserve Bank of New Zealand has published new guidance after suffering its own cybersecurity breach in January.

30 April 2021

Gibson Dunn recruits HSF Asia practice head in Hong Kong

The head of Herbert Smith Freehills' financial services regulatory practice in Asia has crossed over to Gibson Dunn & Crutcher, bringing three associates with him.

30 April 2021

Covington advising as OCC approves Paxos charter

Blockchain platform Paxos is set to be the first crypto firm to hold both national and state bank charters in the US, after the Office of the Comptroller of the Currency granted its charter application preliminary conditional approval in the face of industry backlash.

27 April 2021

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