Regulation
Two in five central banks report having a suptech strategy
Enhancing efficiency is a key driver
One in five fintechs in Ireland send inaccurate returns to regulator
One in four reported deficiencies in safeguarding customers’ funds
EME central banks more likely to license fintech firms
Most institutions choose activity-based approach over other licensing methods
Payment innovation is top priority for fintech research
CBDCs and suptech are also leading focus areas for development
Half of central bank respondents have a fintech strategy
Most strategies cover the external payments ecosystem and internal fintech development
Current regulation ‘not fully fit’ to handle big tech – Carstens
BIS chief offers ideas for new regulatory framework to govern data-focused platforms
UAE grants licence to Russian bank
US voices concerns over sanctions evasion and threatens action against facilitators
Panama president sends crypto law to supreme court
Measure to create legal framework for crypto has twice passed legislature
UK prepares to regulate crypto sector
Government wants to “capitalise” on benefits of crypto assets while controlling the risks
Fed moves to ban state banks from holding crypto as principal
Supervisors outline plan for “level playing field” between state and national banks
Fed deals double blow to crypto bank
Wyoming-based Custodia turned down for Fed membership and master account
DNB fines Coinbase for ‘severe’ non-compliance
Crypto exchange fined €3.3 million for operating without registration
RBI’s Das calls for more work on financial market development
Development has proceeded at “unprecedented pace” despite series of crises, governor says
Stefan Ingves on leadership, prudential oversight and transparency
The Riksbank and Basel Committee veteran speaks about his leadership philosophy, Basel III deal-making and concerns about regulatory rollback, the value of QE and negative rates, and the need for a legal architecture for CBDCs
Over four-fifths of banks have yet to update APP risk mitigants
Most emerging market institutions plan to improve climate provisions in near future
Financial risk teams have higher staffing ratio than other units
Cyber risk and other threats prompt greater staff allocation to sub-units
Saudi Central Bank consults on draft banking law
Law’s goals include “enhancing banking secrecy” and improving depositor protection
Bank of Jamaica to regulate non-bank sector after fraud scandal
Central bank takes over from commission after alleged crime that targeted Usain Bolt
Lael Brainard may take White House post
Biden could ask Federal Reserve vice-chair to lead economic council, reports say
Financial risks report published across 75% of jurisdictions
Frequency of publications and levels of transparency vary across jurisdictions
Centralised departments more likely to face new responsibilities
Respondents reported changes in risk approaches to the environment, and banking and insurance supervision
Risk management staff earn many multiples of per capita income
Risk managers paid more in richest jurisdictions but poorer countries still pay competitive wages
South Sudan central bank orders pricing in pounds
Governor orders end to use of pricing in foreign currencies in private and public sectors
A suptech transformation: using tech to support the full supervisory lifecycle
Regnology explores how – with the appropriate platforms, partners and processes in place – supervisory technology can be utilised as a driver of transformation.