Andrew Bailey

CBDCs could become stablecoin killers

The Bank of England may have to create a central bank digital currency (CBDC) or face its powers being undermined by sterling-backed stablecoins – a dilemma many central banks may have to confront. 

Swiss exchange

Swiss exchange gets go ahead to trade digital tokens

The SIX Digital Exchange (SDX) has been given the green light to operate a stock exchange and central securities depository (CSD) for digital assets by the the Swiss Financial Market Supervisory Authority (FINMA). 

Gary Gensler 2021

SEC warns Coinbase over proposed yield product

The US Securities and Exchange Commission has threatened to sue crypto exchange Coinbase if it launches its planned lending product

Shipping containers

UK banks wrapped over the knuckles on trade finance

UK regulators sent a strongly worded letter to bank chiefs to improve their practices around trade finance following a string of criminal actions leading to hundreds of millions of pounds in losses for individual firms. 

Yvette Valdez

US crypto regulation starts to take shape

There are tentative signs that US policy-makers might be edging towards creating a more predictable regulatory environment for crypto, but hurdles remain and there is still concern that some of the eventual rules may prove damaging.

Jouni Aaltonen

‘Shadow banks’ criticise EBA consultation as “overkill”

The European Banking Authority is consulting on what constitutes a shadow bank for the purpose of reporting large exposures, as the fallout from the Covid-19 pandemic has global regulators assessing the degree to which they should regulate shadow banks. 

William Nichols

Central banks stretch their mandates to protecting ‘natural capital’

Buoyed by their apparent progress on framing financial disclosure measures to combat climate change, the world’s central banks and financial regulators have embarked on an equally ambitious initiative to stem biodiversity loss. This marks a profound shift for central banks, placing protection of ‘natural capital’ squarely within their once tightly drawn financial stability mandates. By Victor Smart

David Strachan

Systemic big tech may face regulatory threat

The Bank for International Settlements is stepping up its warnings around potential risks stemming from big tech firms moving into financial services, leading some industry sources to ponder whether this is a prelude to a regulatory clampdown. 

President Xi

China’s regulatory crackdowns fray foreign investors’ nerves

Mounting regulatory and political pressures are pulling apart capital markets of the world’s two biggest economies, even as Wall Street firms ramp up their presence in China. 

David Shone

Basel Committee draws line under G-SIB methodology

Global banks will be disappointed that the Basel Committee on Banking Supervision appears to be ruling out making any major revisions to the methodology that decides which institutions are classified as global systemically important banks.

SA-reserve-bank

South African banks brace for FRTB

South Africa’s prudential regulator is bringing the fundamental review of the trading book back to life after Covid-19-related delays, with a firm go-live date for banks of January 1, 2024. Despite concerns that this could hammer local markets, banks remain upbeat. 

Euro notes

Is a single bank supervisor inevitable throughout the EU?

A number of European Union countries remain outside eurozone supervisory arrangements, but most are under a treaty commitment to join the euro and the European Banking Union at some point. But a mix of politics and economics points to very divergent levels of progress among the outsiders. By Duncan Alford, associate dean and director of the Law Library & professor of law at the University of South Carolina

How will crypto regulation shape the future of traditional financial services?