Philipp Pieper

Will MiCA support the EU’s crypto revolution?

The EU sees crypto with a mixture of trepidation and optimism, but still has a unique chance to transform the bloc into a world leader in the technology depending on how it regulates it. 

Richard Hopkin

Regulators accused of whitewashing securitisation report

A landmark 66-page report on the securitisation market published ahead of a pivotal European Commission (EC) consultation has been branded a “Titanic-like” disappointment by many in the industry

Blake Goud

Taxonomies clash threatens to fragment green finance

Impressive momentum has built up behind the effort by the world’s financial regulators to create coherent classifications to define what economic activities should truly count as sustainable, but this could also be setting the scene for fragmentation. 

European Commission HQ

European banks face stigma abroad if EU does not faithfully implement Basel III

For the EU to faithfully implement the remaining Basel III rules is not only a matter of meeting an international commitment, but is important so that the bloc’s banks are not stigmatised abroad. Nonetheless, it could see some adaptations to European bank business models. 

Tetsuo Otashiro

CCPs urge global co-ordination on Basel III reforms

A Covid-19-related delay to rolling out Basel III has clearing houses worried about horrendous capital charges for their foreign clearing clients. They are urging banking regulators to provide a reprieve. 

Andre Craig

Will Canada remain unique in its FRTB data pooling approach?

Banks pooling their data to gain lower capital requirements for exposures in their trading books seems like a no brainer, but so far only Canada is doing it on an industry-wide basis. By Justin Pugsley 

BCBS

BIS lauds CBDCs while dismissing cryptocurrencies and stablecoins

Central bank digital currencies (CBDCs) preserve the core functions of money in the digital era, said the Bank for International Settlements (BIS) in a report on June 23, dismissing cryptocurrencies as “speculative” and stablecoins as an “appendage”.

Rishi Sunak

UK looks to rest of world with dim prospect of winning EU equivalence

At the annual Mansion House speech delivered on July 1, finance minister Rishi Sunak said the UK can now operate differently and better as it has greater freedom to pivot away from the EU and to deepen relationships with other nations.

Chris Whalen

Basel Committee proposals could crimp bank involvement in crypto

The Basel Committee proposals on the prudential treatment of crypto-assets are controversial to some participants while others believe they pave the way towards mainstream adoption.

Crypto

Bank of England cautious on CBDCs due to lingering uncertainties

The Bank of England appears to be edging closer to launching a UK central bank digital currency (CBDC), but still has concerns over how it might impact the financial sector. 

Bank of England

UK regulators urge liquidity providers to switch to SOFR from July 26

Liquidity providers are being encouraged by the Bank of England and the Financial Conduct Authority (FCA) to switch from the London interbank offered rates (Libor) to the Secured Overnight Financing Rate (SOFR) for dollar interest rate swaps from July 26. 

Sydney Harbour

Australia trade deal paves way for UK to join CPTPP

On June 14, the UK signed a trade deal in principle with Australia, which is supportive for financial services, and paves the way for the UK to enter the Progressive Agreement for Trans-Pacific Partnership (CPTPP), an important trading bloc, which the UK wants to join. 

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