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Topic: Banking regulators

The green bubble: why BIS thinks we can’t rely on banks to drive a transition

In a new paper, senior figures at the Bank for International Settlements say it is “unrealistic” to expect the banking industry to provide resources for a green transition in the absence of government policy.

15 June 2022

Three major UK banks falling short with resolution plans, BoE says

The Bank of England has found “shortcomings” in three major UK banks’ resolution plans, despite finding those same banks are no longer “too big to fail”.

13 June 2022

“A big first step”: Lummis-Gillibrand proposes CFTC as primary crypto regulator, seeks automatic Fed accounts for fintechs

A bipartisan crypto bill, coming to the US Senate just weeks after the Terra stablecoin crash, looks set to re-energise the conversation around crypto regulation as market participants both applaud and decry its proposals.

10 June 2022

EU pilots crypto regulatory exemption regime

After a two-year legislative process, the European Union has finally piloted an “out of character” EU-wide sandbox that will grant some crypto firms “momentous” regulatory exemptions.

08 June 2022

Less than half of Australian banks assessing emissions, APRA’s Byres says

The head of Australia’s prudential regulator has criticised banks for not keeping to climate guidance, as the country elects new leadership in what was dubbed the “climate election”.

01 June 2022

Canadian regulator “misses opportunity” with bank climate proposals

Canada’s financial regulator has released proposals to ramp up climate risk disclosures and stress testing, prompting criticism it has missed its opportunity to specify alignment with net zero targets.

30 May 2022

US Commerce Department calls for input on digital asset framework

The United States’ Department of Commerce has asked whether the US regulatory landscape is impacting the global competitiveness of digital asset platforms, as practitioners say the forthcoming framework could affect “a number of new market actors”.

26 May 2022

“A real-life demonstration of the risks”: regulators and practitioners react to stablecoin stutter

Regulators and practitioners across the world have voiced expectations of an accelerated regulatory framework for stablecoins, after a turbulent week for cryptocurrencies that saw Bitcoin lose a fifth of its value.

18 May 2022

OCC’s Hsu calls for bank merger policy reform

The United States’ Office of the Comptroller of the Currency will review its approach to bank mergers, its acting head has said, giving his ideas on what such a review may look like after President Joe Biden’s order to regulators to prioritise a bank merger policy change.

11 May 2022

“We are at a crossroads”: what’s next for regulation in the UK?

CityWeek’s 12th annual Financial Services Forum heard keynotes from the chief executives of the Financial Conduct Authority and Prudential Regulation Authority, along with discussions of the UK’s ambitions as a crypto hub and its potential for regulatory divergence post-Brexit.

09 May 2022