Supervision
People: New York names state financial services regulator
New president at development bank; supervisors promoted at regional Feds; and more
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
Book notes: Fintech regulation in China, by Robin Hui Huang
The book includes meticulous exploration of detailed regulations across the Chinese fintech sector, but risks missing some of the bigger picture due to China’s on/off oversight
People: Georgia names new vice-governor
IMF appoints director of HR; Kuwaiti emir makes delayed board appointments; Indonesia shuffles regional reps
Police search Paraguay central bank
“Fifa-gate” investigations into embezzlement lead special AML unit to execute warrant
Central banks’ payments operations staffed more than oversight function
Advanced economies tend to have higher staff numbers in both functions
MAS grants first crypto exchange licence
Central banks taking divergent approaches to scrutiny of crypto firms
Sanctioned disobedience: the challenge of protecting whistleblowers
Most central banks have policies on whistleblowing, but practice and usage vary widely
US regulator joins NGFS
OCC follows Fed into green network and appoints climate change risk officer
Covid and the cloud: a turning point for central banks?
As central banks embrace new technology, providers are jostling to be first in line
Surveillance and suptech innovation in central banks
Tony Sio, Nasdaq’s head of marketplace regulatory technology, explains the role market surveillance tools play in central banks’ suptech portfolios.
People: New York Fed appoints new head of supervision
Diane Dobbeck to lead supervision group; Atlanta Fed hires chief strategy officer; Biden appoints assistant treasury secretary
Papua New Guinea central bank penalises largest lender
Regulators issue warning on AML breaches at BSP, but observers say actions are not strict enough
Technology is the best bet in fighting money laundering
Danish FSA chief Jesper Berg says there is a need to think ‘outside the box’ on AML, rather than blame flawed regulatory and institutional design in dealing with corrupt money flows
Mountfield to become World Bank vice-president, sources say
More people news: Atlanta Fed names senior VP, and Fed’s first supervision head goes to US Treasury
Recipe for a chief (fin)tech officer
Private-sector experience, a knowledge of supervision and a zest for innovation are key ingredients for a chief fintech officer
US comptroller takes direct charge of agency’s bank supervision
US agency eliminates chief operating officer role as part of internal reorganisation
Somalia’s governor on rebuilding its central bank
Governor Abdirahman Mohamed Abdullahi discusses reviving Somalia’s war-damaged economy, re-creating a payments system, and dealing with remittances
O CBDC, O crypto! Wherefore art thou regtech?
Putting more investment and energy into regtech, instead of solely focusing on crypto and CBDC, would help to secure more of the expected benefits from digital evolution
Three ways to bolster flawed AML/CFT in the EU
The EU needs to significantly improve the structure and resourcing of its AML/CFT oversight if it really wants to combat illicit money flows, write Panicos Demetriades and Radosveta Vassileva
Suptech strategy: the seven missing links
RBI’s Manoj Kumar Singh sets out the actions central banks need to take to build an effective suptech strategy
ECB’s Enria warns eurozone banks over risk-taking
ECB likely to lift recommended dividend pause in September, chief supervisor says
ECB launches consultation on supervisory practices
Central bank says exercise aims to boost transparency on its interaction with banks
Big banks pass Fed stress tests
Quarles: “The banking system is strongly positioned to support the ongoing recovery”