The list of global systemically important banks (G-SIBs) remains unchanged from last year at 30 for 2021, according to the Financial Stability Board, and incorporates a tweak to the ranking methodology.
Global
CPMI consults on introducing 24/7 RTGS services
Payment systems operators and other interested parties are being consulted by the Committee on Payments and Market Infrastructures (CPMI) about measures to enhance cross-border payment systems, which would involve extending operating hours and introducing a global settlement window.
The future of finance isn’t completely centralised or decentralised, it’s hybrid
Interest in decentralised finance, or ‘DeFi’, is booming in the technology world. The term has invited enthusiasm, scepticism and curiosity, in equal measure. There is no doubt that the technology could be host to a number of exciting applications. At its core, DeFi rests upon the central principle of disintermediation, and this could have many benefits, including the democratisation of finance.
Will digital currencies cause a financial cataclysm?
The phenomenal growth of the global digital currency market has made headlines throughout this year. No surprise, perhaps, given that its aggregate value has surged from $800bn to $2.3tn during that time. This raises the question as to whether or not they represent a serious systemic threat.
COP26 gives climate finance a further boost
The high profile COP26 conference, which ended on November 12, is likely to accelerate the use of climate finance and will see financial regulators act with greater urgency to green the financial system, according to industry sources.
FCA grants another Libor reprieve to fend off potential market disruptions
Fears of potential market disruption have prompted the UK’s Financial Conduct Authority (FCA) to temporarily allow the use of ‘synthetic’ sterling and yen London interbank offered rates (Libor) for legacy contracts referencing the benchmark that are not changed before December 31. But this will not apply to cleared derivatives.
New board to bring ‘welcome’ consolidation of ESG standards
The creation of an International Sustainability Standards Board promises to replace a patchwork of ESG company disclosures standards with a single set of global rules, but will prove challenging to implement.
ESG regulations: what financial institutions need to know in 2022
The global pandemic delivered the biggest shock to the financial services industry since the financial crash. Many financial institutions grappled with fresh challenges from the fall in financial assets or reduction in liquidity to ensuring operational resilience.
Banks can teach big tech a thing or two about regulation
Big tech’s move into financial services has been keenly observed by financial institutions and regulators alike in recent years. Yet latest communications from the Bank for International Settlements indicate a decisive change in tone – financial regulators need to “get a grip on big tech and be prepared to act quickly”.
Global standard setters propose new measures on initial margins
Due to intense market volatility in March/April last year as the Covid-19 pandemic struck Western countries, global standard setters are consulting on a raft of measures such as increased transparency in centrally cleared markets through to enhancing liquidity preparedness.
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