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

Rush to phase out fossil fuels could trigger financial instability
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.

Banks probe deeper into their supply chains to keep regulators onside
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.

Crypto must get to grips with its high-risk culture
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.

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

Global taxonomies battle risks undermining green finance
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 mounts fight back amid fragmenting geopolitics
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.

US moves closer to digital dollar, but reservations remain
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.

Capital markets question APRA’s clampdown on bank bond calls
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.

Basel Committee brings clarity to crypto, but bankers disappointed
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.

Basel Committee finds Basel III has boosted resilience of previously weak banks
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.

FSB concerned about CCP and insurer resolution risks
Urgent work is needed to plug holes in global financial regulatory frameworks to stave off a potential crisis emanating from a failing international systemic clearing house or insurer, the Financial Stability Board (FSB) warned.

2023 will prove pivotal for crypto regulation as it enters new phase
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.

Firms should prepare for tightening ESG standards
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.

EU’s pragmatic stance on euro clearing likely influenced by Brexit
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.

Is the UK gambling on a return to casino capitalism?
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.

UK’s Basel 3.1 implementation likely to see more divergence from EU
The UK sticking relatively close to the Basel framework will nonetheless mean that it will diverge further from the EU, which is opting to pursue more exceptions in its capital rules.