FSB sees glimmer of hope in reversing decline in correspondent banking relationships

There is growing evidence that regulators are pursuing clarifications with their peers and are implementing a number of other measures to halt the decline in correspondent banking relationships, the Financial Stability Board (FSB) said in a statement.

LEIs made machine readable

Legal Entity Identifiers (LEIs) have been made digitally machine readable due to a partnership between the Global Legal Entity Identifier Foundation (GLEIF) and XBRL International, a global community overseeing the XBRL standard.

IOSCO priorities outlined at annual meeting in Sydney

Crypto-assets, market fragmentation, asset management, margin requirements, fintech, sustainable finance, cyber risk and data protection were all cited as among key priorities at the International Organization of Securities Commissions (IOSCO) annual meeting in Sydney. 

Facebook holding talks with CFTC over digital currency

The social media group Facebook is holding talks with the US Commodity Futures Trading Commission (CFTC) over its plans to launch a new digital currency to spearhead its move into payments.

FSB consults on winding down failing G-SIBs

Transparency and cross border regulatory cooperation are important aspects for the orderly resolution of a failing globally systemically important bank (G-SIB) the Financial Stability Board [FSB] said in a paper and consultation.

FSB calls for more effective cooperation to tackle market fragmentation

Reducing market fragmentation can help improve financial stability and market efficiency, said the Financial Stability Board (FSB) in a report to the G20.

J Christopher Giancarlo

Shift to alternative rates slowed by accounting issues

The regulatory driven shift away from Ibors to alternative near risk free rates is happening surprisingly quickly, but could be even faster if various accounting and operational issues are addressed more swiftly

FSB voices concern over CLOs with many new reports scheduled

Despite there being few signs of imminent threats to financial stability, the Financial Stability Board (FSB) restated its concerns over the growth of collateralised loan obligations (CLOs) at its plenary meeting in New York on April 26 and promises a raft of reports on various aspects of the financial system.

EU recognises most of Japan’s uncleared OTC derivatives regime

Japan’s rules governing uncleared over-the-counter (OTC) derivatives have been recognised as equivalent to the European market infrastructure regulation (Emir) by the European Commission, though not its risk mitigation processes.

Think tank makes six recommendations to make Basel III work better for developing economies

There have long been complaints that the Basel III Framework with its emphasis on lowering risk inadvertently discriminates against developing economies and to address this a global think tank has come up with six recommendations.