News
EU and Russia push forward on CBDC plans, amid pushback
Central banks in Russia and the European Union have both moved forward on their ambitions for digital versions of their currencies, as private sector voices increasingly raise concerns about the potential impact of CBDCs on financial stability.
16 April 2021
Existing risk categories can capture climate risk drivers, Basel says
The Basel Committee on Banking Supervision says it has “not found any evidence” to support the creation of a separate risk category to address the drivers of climate risk – but indicates there will need to be more “granular” measurement of the changing climate’s impact on banks’ actual exposures.
16 April 2021
A “culture of fear” over risk-taking: FSB calls for UK regulators to align on remuneration
UK regulators should better align their compensation frameworks to avoid creating a “a culture of fear” around proactive risk taking at banks, according to a new report from the Financial Stability Board.
15 April 2021
Basel finalises resilience principles as FDIC chair points to legacy systems
FDIC chair Jelena McWilliams has highlighted banks’ outdated legacy systems as her “number one” concern about banking operations, shortly after the Basel Committee on Banking Supervision finalised its seven principles for operational resilience.
15 April 2021
Brazilian climate risk proposals will be “a journey and a process”
Brazil’s banking regulator has proposed that financial institutions include more detailed climate-related losses in their risk management policies, but a “stark lack of diversity” at board level could hamper banks’ progress.
13 April 2021
Israel’s former top banking supervisor joins Cypriot social trading platform
Tel Aviv-based social trading platform eToro has appointed Hedva Ber, formerly Israel’s leading banking regulator, as its global chief operating officer.
13 April 2021
EBA calls for greater detail in “non-logical” investment policy disclosures
The EU’s banking watchdog has announced broader disclosure requirements for large investment banks.
08 April 2021
MAS consulting on foreign branch exemptions
Singapore’s regulator is consulting on new exemptions from business conduct and notification requirements for banks’ foreign head offices and local branches, after banks said recent reforms to its regime for foreign related corporations risked an “unlevel playing field”.
08 April 2021
FinCEN issues ANPR for beneficial ownership reporting, as director departs
The US Treasury’s Financial Crimes Enforcement Network has released an advance notice of proposed rulemaking for its “vast” new beneficial ownership reporting requirements, as its director Kenneth Blanco announces his departure to head Citi’s new financial crimes unit.
06 April 2021
ECB guidelines “facilitating” Spanish bank M&A as Unicaja and Liberbank merge
Portugal’s Novo Banco has divested its Spain-based businesses, while Spanish lenders Unicaja and Liberbank have won shareholder approval for their merger.
06 April 2021
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