Region: International

SFT haircut standards delayed again

The covid-19 pandemic has pushed the Financial Stability Board to again extend the deadline for states to implement minimum haircut standards on non-centrally cleared securities financing transactions.

10 September 2020

“Let’s not run before we can walk”: BoE’s Bailey on stablecoins

Bank of England governor Andrew Bailey has urged caution on stablecoin initiatives, saying multi-currency ‘baskets’ are the “wrong place to start”.

08 September 2020

CFTC clears path for Libor transition measures

US derivatives regulator the Commodity Futures Trading Commission has issued a trio of no-action letters ahead of next year’s Libor transition, in an attempt to encourage derivatives traders to amend their contracts, as the industry-led task force guiding the transition issued new recommended contractual language.

02 September 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

Basel urges improved disaster planning

The Basel Committee is proposing to update its operational risk framework with new change management and technology principles, urging banks to step up their disaster planning in the wake of the disruption wrought by the covid-19 pandemic.

10 August 2020

G20 report warns over Libor transition preparedness

A G20 survey of regulators’ plans for Libor transition has found half of respondents from non-Financial Stability Board member jurisdictions have no strategy for the transition – as the Bank for International Settlements and FSB urge regulators worldwide to cooperate ahead of the benchmark’s phasing-out.

10 July 2020

EU refers three states for AML non-implementation, as Basel guidelines revised

The European Commission is taking Austria, Belgium and the Netherlands to court over allegations they failed to properly implement the fourth anti-money laundering directive – as the Basel Committee introduces cooperation provisions to its AML/CFT guidelines.

06 July 2020

Covid-19 pushing CBDC development “into top gear”

The covid-19 pandemic is accelerating central banks’ development of their own digital currencies, senior figures in the Bank for International Settlements and Bank of England have said– as their counterparts in Canada, South Korea and Thailand all announce their own moves in the space.

19 June 2020

BIS and Bank of Russia make market infrastructure appointments

Russia’s central bank has created a new department to regulate market infrastructure providers, while the Bank for International Settlements has named Federal Reserve alum Tara Rice as the new head of its committee on payments and market infrastructures.

29 May 2020

BIS hires in Basel and Hong Kong

The Bank for International Settlements has hired a new deputy head of banking, and a head for its new innovation hub’s Hong Kong office.

22 May 2020

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