Regulation
Panama supreme court rejects crypto law
Judges agree draft law has unconstitutional provisions and was improperly passed
Chinese regulators impose fines on Ant Group and Tenpay
Regulators’ priorities have now shifted to “normalised supervision” of platform companies
Uganda passes Islamic banking law
Parliament removes provision for sharia advisory council at the Bank of Uganda
Brazil regulators cut off loans for environmental law violators
Resolution marks change in policy from Bolsonaro era
Israeli government clashes with governor over banking law
Governor says law “crosses a red line” on independence, but pushes banks to raise rates
BoE proposes ‘Solvency UK’ insurance reforms
Government overruled central bank on tightening a key element of the rules
Ex-Fed vice-chair Quarles linked to bank seeking master account
Quarles’s involvement recalls controversy over Sarah Bloom Raskin
Fed’s Bowman questions Barr’s bank failures report
Governor says supervision is preferable to higher capital requirements
Two major lenders tighten limits on Russian transactions
Raiffeisen stops euro payments to Russia, and Bank of China stops yuan payments from Russia
Barr to review bank oversight, promising nimbler supervision
Fed vice-chair suggests “reverse stress tests” to measure what would break banks
Central Bank of Brazil gains crypto regulation powers
BCB will grant and withdraw licences, and oversee operations and management
Hong Kong legalises retail crypto trading
Licensed exchanges will be able to trade major virtual tokens to retail investors
IMF considering Liechtenstein application
European microstate could become 191st member of fund
OCC will target ‘persistent weaknesses’ in US banks
Updated guidance introduces tougher approach to non-compliant banks
IMF urges caution in UK financial services reforms
Fund says efforts to ease or simplify rules must be “carefully weighed”
Fed’s Bowman defends regulatory ‘tailoring’
Governor calls for independent review of SVB collapse, dismissing Barr report
Fed report admits errors in SVB oversight
Report takes aim at regulatory easing during Trump era
EU concludes authorities cannot seize Russian assets
Brussels says Europe may be able to invest assets and use extra profits to aid Ukraine
Stagnant US bank numbers ‘concerning’ – Fed’s Bowman
Governor argues regulation be loosened for bank formation, not tightened for mergers
Bailey raises possibility of setting bigger liquidity buffers
BoE governor says “we can’t assume” current buffers are still appropriate
US regulators fine Wells Fargo for aiding sanctions-busting
Fed and Treasury say bank failed to halt client channelling funds to Iran, Syria and Sudan
EU politicians back plan for new AML authority
Proposals include tougher transparency requirements and crypto transaction limits
Fed details Custodia rejection decision
Decision says Wyoming firm has deficient management and risky business model
US lender tied to FTX goes into liquidation
Federal government investigating California bank linked to failed crypto exchange