Regulation
Biden nominates Barr for Fed supervision post
Previous nominee Sarah Bloom Raskin withdrew in March after Republican attacks
MAS crypto regulatory powers extended
New bill brings virtual asset providers under AML/CFT regulation
UAE central bank to 'Emiratise' finance sector
Measure will reserve 5,000 jobs for nationals by 2026
Brazil moves forward with crypto legislation
Economic committee votes to give the central bank new regulatory powers
US regulators fine Pakistani state-owned bank
Central bank-owned NBP will pay more than $55 million for AML shortcomings
Ecuador congress removes bank regulator
Legislators charged Ruth Arregui with failure to perform duties of her office
Planned EU cross-border trading ban to hit most large markets
Most major jurisdictions currently provide either interdealer or client exemptions
Bolivian authorities implement crypto ban
Central bank will enforce 2020 measure banishing virtual assets from payments system
The longest book ever written?
The Single Rulebook on EU financial regulation is a serious contender for the prize of the longest book ever written. But will it deliver a safer and better financial system?
Kenyan central bank to oversee digital lenders
Governor had requested “teeth” from parliament but lawmakers removed some powers
China rolls out loss-absorbency rules for systemic banks
China to follow FSB standard, telling G-Sibs to build buffers worth 18% of risk-weighted assets
Quarles term as Fed vice-chair ends without replacement
Fed supervision committee will continue without a chair, acting on consensus basis
FSB to press ahead with money market fund reforms
Asset managers had argued turbulence in MMFs during Covid was symptom of stress not cause
CPMI and Iosco say systemic stablecoins must meet FMI principles
Stablecoins perform similar functions to other financial market infrastructures, say bodies
More regulatory action on big tech may be needed – FSI paper
Actions so far may not be enough to address growing risks, says Financial Stability Institute
OCC issues $250 million penalty against Wells Fargo
US regulator says bank has failed to meet commitments on loss mitigation
Carolyn Rogers hits back at critics of Basel III
BCBS secretary-general dismisses “very tired” arguments against full implementation
MAS demands crypto exchange Binance cease operations
Move came after UK’s FCA said firm failed to provide sufficient supervisory information
US regulators warn Wells Fargo of new penalties, report claims
Bloomberg says OCC and CFPB believe US bank is moving too slowly on compensating scam victims
Fixing market-based finance: duct tape or deep reform?
Central banks are increasingly having to act as market-makers of last resort. But deeper reforms may be needed to avoid stretching their balance sheets to breaking point
Systemic banks shrink balance sheets at reporting dates – BIS paper
Authors find “systematic” balance sheet compression often results in lower capital requirements
Myanmar central bank restricts foreign hires
Move comes after months of unrest and shortly after military announced 2023 polls
G30 calls for major US Treasury market reform
Rise of non-banks and side-effects of regulation are triggering bouts of “dysfunction”, report warns
US regulator joins NGFS
OCC follows Fed into green network and appoints climate change risk officer