Region: International

FCA plans “synthetic Libor” for post-2021

The UK’s Financial Conduct Authority has outlined the scenarios in which it will publish a newly-calculated “synthetic” Libor after its end-2021 discontinuation, under fresh powers handed to it by the newly introduced Financial Services Bill.

23 November 2020

45 under 45

Featured in 45 Under 45 2020

GBRR is proud to introduce our “45 under 45”, profiling 45 leading next generation banking regulation specialists from around the world, all under the age of 45 at the time of publication.

16 November 2020

Covid-19 prompting “institutional rethink” on operational resilience, report finds

Three US regulators have issued a list of “sound practices” banks should follow in operational resilience – as a new report from Norton Rose Fulbright suggests a drastic shift in preparedness for shocks over the course of the covid-19 pandemic.

05 November 2020

Goldman Sachs to address risk management after US$2.9 billion 1MDB settlement

Goldman Sachs has been ordered to improve its risk management and oversight procedures after settling with 10 regulators in five jurisdictions over an alleged multibillion-dollar bribery and embezzlement scheme with respect to Malaysian fund 1MDB.

29 October 2020

ISDA announces fallbacks protocol, seeking to catalyse Ibor transition

After receiving antitrust clearance, the International Swaps and Derivatives Association has announced a series of fallback provisions for when existing interest rate benchmarks fall out of use – a development that practitioners hope will accelerate the move to new risk-free-rates.

28 October 2020

G7 and FSB resist stablecoin pleas

The G7 economies have said that no global stablecoin should begin operations “until it is properly regulated”, after several financial technology companies and think-tanks urged the Financial Stability Board to alter its view of their risks.

14 October 2020

First, do no harm: central banks agree CBDC principles

Central banks representing all of the G7 economies have published an outline of basic principles for developing digital versions of their currencies – emphasising a safety-first approach but also outlining the range of choices each would have to make should it pursue the project.

12 October 2020

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

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