The Derivatives Service Bureau's unique product identifier aims to help regulators track potential systemic risks within the OTC derivatives market. 

Policy-makers are making a concerted effort to steer the financial sector away from supporting fossil fuel producers, creating opportunities for new lenders but some worry about the impact on the global economy. 

Discussions around operational risk are rippling further down bank supply chains due to regulators taking more interest in resilience as digitisation gains momentum. However, there are concerns that not enough attention is being paid to future proofing risk management.   

Following a year of price drops, job losses and bankruptcies, many in the crypto industry were hoping for a calm end to 2022. But then came the spectacular FTX fallout and a flurry of criminal fraud charges against its former chief executive, Sam Bankman-Fried, making corporate culture a hot topic once again.

The demise of Bahamas-based cryptocurrency exchange FTX is raising questions about offshore financial regulators’ ability to oversee rapidly growing crypto firms.

Dozens of countries have embarked on developing their own sustainable taxonomies. Many use the ground-breaking, if flawed, EU taxonomy as a template. What degree of interoperability will emerge from these varying standards and how does the US, an outlier, fit in?

Hong Kong has prospered mightily on the back of turbo-charged globalisation, the ascent of China and the symbiotic US–Chinese economic relationship. But these conditions are now unravelling, raising questions over whether the city can maintain its status as a leading financial hub.

The US is finally moving towards developing a digital dollar, after years of hesitation and discord. It could speed up payments and slash settlement risk in wholesale markets, but scepticism is still widespread.

On November 1, 2022, the Australian Prudential Regulation Authority published an open letter to deposit-taking institutions, general insurers and life companies, concerning expectations on capital calls for Additional Tier 1 capital and Tier 2 capital instruments.

Banks now have a much clearer view over how they can interact with crypto-assets following the Basel Committee on Banking Supervision rolling out its final crypto standards. Though it reduces regulatory uncertainties, banks were largely disappointed.

In its third evaluation report on the global crisis financial reforms, the Basel Committee on Banking Supervision said bank resilience has increased with even greater strides seen from firms most impacted by the reforms helping to reduce systemic risk. 

More regulation of crypto assets was already in the pipeline but the recent turbulence in crypto markets has raised the stakes. The coming year will be pivotal as new restrictions start to apply to crypto asset businesses and the path is laid for further regulation in the years to come.

Around the world we are seeing nations and new networks ramping up their efforts to meet their climate goals and transition to a green economy. But the road ahead is far from smooth, and a number of real challenges can be seen on the horizon. We examine some of the key ESG headwinds we face and discuss their impact on global climate action, financing and the geopolitical landscape.

The European Commission’s proposals on euro clearing seem to have been significantly influenced by Brexit and geopolitical factors, potentially placing the bloc’s derivatives industry in a stronger competitive position.

It is tempting to dismiss the UK government’s plans to scrap banker bonus caps, reintroduce a competitiveness mandate for regulators and to potentially dilute conduct rules to turbo charge the City of London’s growth as a return to casino capitalism. The reality is somewhat more nuanced.