GlobalRSS

New ‘controls library’ launched so banks can benchmark operational risk practices

A controls library for operational risk has been launched by the Operational Riskdata eXchange (ORX) and consulting firm Mckinsey & Co and is designed to support the understanding and benchmarking of risk controls within banks.

CPMI-IOSCO highlights challenges around new clearing models

Though clearing transactions for indirect participants is a key objective of the G20, there are nonetheless challenges around risk management processes related to new access models. 

GET cargo ship

Digital currencies inject new possibilities into cross-border payments

There are good reasons for most countries to improve cross-border payment efficiencies, however that desire is complicated by technical and legal issues. But new forms of digital money potentially open up some interesting new channels. 

william je

Stablecoins winning regulatory acceptance – but at a price

Most jurisdictions appear increasingly inclined to accept stablecoins playing a role in the financial system. Some even see them as beneficial innovation. However, that will come at a price in terms of the rules they will have to follow.

Sam Ramirez Jr

EU shelving social taxonomy paves way for greater fragmentation

The European Commission’s decision to kick the EU social taxonomy into the long grass was greeted with disappointment by the sustainable finance community, but more importantly it might accentuate the slide towards greater fragmentation.

BIS

Global recession will test post-crisis financial reforms

Banks are in a better position to weather a global recession now than before the 2007/09 global financial crisis, but experts warn that a confluence of events could yet stress the banking system.

Andreas Ita cropped

Banks still vulnerable to another Archegos-type crisis

Overly generous risk weightings on certain transactions, a lack of data and stress testing loopholes means that some global systemically important banks could get hit by another Archegos-type failure.

Sebastian Barling

Basel Committee seeks more consistency around bank climate actions

The Basel Committee’s paper on climate change might lack ambition by the standards of European initiatives, but it may nudge the rest of the world in the direction of sustainability, and thereby ensure a more level playing field globally.

BLM crypto

Crypto faces moment of reckoning

It turns out that crypto is not an independent parallel financial system after all and is closely tethered to the traditional financial system and its recent meltdown will see policy-makers double down on regulating the sector. By Justin Pugsley  

Manoj Mistry

Celsius blow-up highlights areas for improving crypto lending platforms

The volatile performance of cryptocurrencies has made significant headlines over the past year. This is hardly surprising given that bitcoin, easily the best-known crypto, has fallen by 70% in value since reaching its peak last November.