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US dollar does not need a CBDC to maintain its global dominance

The role of the US dollar is so dominant and rooted in economic and financial factors that it does not necessarily require a central bank digital currency (CBDC) to maintain its lead, said US Federal Reserve Board governor Christopher Waller.

Three Singapore market operators exempted from CFTC swap requirements

Three Singapore-authorised Recognized Market Operators (RMOs) have been exempted from US swap execution facility (SEF) registration requirements by the Commodity Futures Trading Commission (CFTC). 

US regulators seek to spruce up resolution rules as banks grow in size

Feedback is being sought by US prudential regulators over proposals to enhance their ability to resolve big banks following a considerable increase in their size, which could include the use of a long-term debt requirement.

SEC modernises securities swaps related reporting requirements

The prompt production and recording of electronic information relating to securities swaps is to be modernised following an amendment adopted by the Securities and Exchange Commission (SEC).

SEC reopens consultations following technical glitch

Due to a technical glitch, the Securities and Exchange Commission (SEC) said it had not received comments for some consultations submitted from June 2021 to August 2022.

Six largest US banks to participate in pilot climate stress test

In 2023, six of the largest US banks are to participate in a pilot climate stress test lasting for about a year so supervisors can better manage climate-related financial risks.

Banking agencies said implementing remainder of Basel III is 'a priority'

US banking agencies have reaffirmed their commitment to finalising and applying the remaining outstanding parts of the Basel III standards saying it will strengthen the country’s banking system. 

Fed seeks comments on strengthening financial market utilities

Feedback on updates to operational risk-management requirements for certain systemically important financial market utilities (FMUs) is being sought by the US Federal Reserve Board and focuses on four areas. 

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OFR highlights under-appreciated risks around interconnectedness

Risks relating to bank connectedness to non-banks, a regulatory focus on direct counterparty bank exposures and issues in uncleared derivatives markets could be hiding threats to the financial system, said the Office of Financial Research (OFR).

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Record-keeping failures land financial firms with $1.8bn fines

The longstanding and widespread failure to properly record business communications has landed a large number of financial firms with fines totalling $1.8bn from two US federal agencies.