The Bank for International Settlements (BIS) has made a number of appointments including making Jerome Powell, the chair of the US Federal Reserve System, chairman of the Global Economy Meeting (GEM) and the Economic Consultative Committee, after consultations with members of the GEM.

The head of the new BIS innovation hub will be Benoît Cœuré, who is a member of the European Central Bank’s (ECB) executive board, the Bank for International Settlements said in a statement.

The Basel Committee on Banking Supervision is requesting feedback on introducing guidelines on the interaction and cooperation between prudential and anti-money laundering and combatting the financing of terrorism (AML/CFT) supervision.

The Basel Committee on Banking Supervision is consulting on its revisions to market risk disclosure requirements relating to the profit and loss attribution (PLA) test for banks that use the internal models approach (IMA) to assess capital requirements for their trading books.

The Basel Committee on Banking Supervision has launched a consultation, which closes on February 12, 2020, on three Pillar 3 templates relating to bank sovereign exposures.

Banks and their supervisors need to pay greater attention to the effects of open banking on the industry in areas such as sharing customer data and the growing connectivity among players, the Basel Committee on Banking Supervision said in a report. 

Global standard setters have published the 2019 list of global systemically important banks (G-SIBS) which now number 30 financial institutions, one more than last year thanks to the addition of Toronto Dominion.

In its supervision and regulation report, the US Federal Reserve Board said US banks remain strong and well positioned for any downturn, though one think-tank thought the central bank did not dig deep enough into potential problem areas.