Fintech
Global regulators to collaborate on fintech sandbox
UK’s FCA unveils global network of 12 regulators that will collaborate on testing and supervising innovative technology
Central bank cyber security: a weak link in the financial system?
Disgruntled hackers are targeting central banks, whose cyber defences may not be up to the test
Suptech: More than just a new name for solving an old problem
The global financial crisis sparked a far-ranging overhaul of the international architecture for financial regulation, coupled with a deep reflection around the fitness-for-purpose and effectiveness of supervisory efforts, writes Anne Leslie-Bini.
Capitalising on regtech
Regulatory technology could prove effective in improving data reporting and supervisory monitoring, but central banks have a long way to go to making this a reality, writes Joel Clark.
Survey indicates bitcoin’s purpose changed over the last year
Main reason cited for owning bitcoin shifted from transactions to investment between 2016 and 2017
Central bank digital currency a ‘terrible idea’, US Congress told
Move to central bank cryptocurrency would make Fed “overwhelming credit allocator” - researcher
FSI paper urges supervisors to develop ‘suptech strategy’
Supervisors are well placed to benefit from technology but need a clear plan, says the paper from Basel’s FSI
Thailand can benefit more from fintech – Veerathai
Thai governor sees role for blockchain technology in improving regional payments
FSB launches crypto asset monitoring framework
Metrics will focus on the financial stability risk of crypto market; much of the data will be pulled from public sources
Bahamas central bank traces website breach to third party
Central bank says no personal data was taken but some administrator credentials were included in stolen data
Bank of Lithuania lures fintech firms with e-licensing tool
Portal promises to streamline approval process as country seeks to become fintech hub
FSB outlines ‘cyber lexicon’
Group hopes common language will aid cross-border efforts to tackle cyber threats
Bank of Finland paper calls digital currency a ‘fallacy’
Crypto assets highlight how poorly understood money is today – BoF official
Crypto assets could threaten market integrity – PRA’s Woods
PRA chief executive issues guidance on risks related to crypto assets
Blockchain panel says 'crypto bubble' is not cause for concern
Assets are not used widely enough to cause severe shock to financial markets; bubble needs to burst for crypto assets to compete in the market
BoE to launch ‘cyber stress tests’
Firms will be expected to demonstrate they can recover from a breach within an agreed timescale, or face an intervention from supervisors
RBNZ’s Bascand: too soon to decide on issuing digital currency
New technology could reduce payments efficiency and increase financial instability, deputy governor warns
Central bank digital currency would be unsafe – senior ECB official
Lack of finality in payment could cause major instability, Benoit Coeuré says
Panellists disagree on regulatory approach to blockchain
Should regulators be allowed on the blockchain, or should the technology govern itself, panel asks
South African central bank puts cyber security on strategic agenda
Sarb says it has put “base infrastructure” for security incident technology in place
Caribbean central banks look for common approach to fintech
Working group set up to look at crypto assets in the region
Central bank digital currency of no benefit to financial stability – RBNZ research
CBDC could make New Zealand’s banking sector more susceptible to spillovers
BIS calls for ‘redrawing of regulatory boundaries’ around crypto
Regulation will have to adapt to a “new reality”, BIS says, suggesting new ways the underlying technology could be applied to improve financial efficiency
PRA official says financial system must become more cyber-resilient
Firms now view cyber as one of the biggest risks to their operations; regulators must outline what they expect from firms in terms of resilience