Banks and insurers operating in Switzerland are expected to establish frameworks for managing climate risk based on established practices and relevant to their individual businesses.
Latest articles from Justin Pugsley
Banks and insurers operating in Switzerland are expected to establish frameworks for managing climate risk based on established practices and relevant to their individual businesses.
A sample of 17 of the EU’s largest banks by rating agency Scope Ratings found that six had to increase their Pillar 2 Capital requirements following the annual Supervisory Review and Evaluation Process (SREP) undertaken by supervisors.
Some US banks are so large now that they could be too big to manage (TBTM) and therefore may need breaking up, said Michael Hsu, acting comptroller of the currency.
Market participants are being advised to use digital token identifiers (DTIs) by the European Securities and Markets Authority (ESMA) in relation to its reporting pilot for digital assets.
The digital euro would never be programmable nor undermine personal privacy, a European Central Bank (ECB) official told the European Parliament in a bid to defuse fears that it could represent a slippery slide towards a dystopian society.
Emerging market countries face growing financial threats to their banking systems and monetary sovereignty from the crypto-isation of their economies.
Academics are being asked by the Office of the Comptroller of the Currency (OCC) to provide research papers identifying emerging risks in the banking system or related policy and supervisory issues by March 3.
Policy-makers are making a concerted effort to steer the financial sector away from supporting fossil fuel producers, creating opportunities for new lenders but some worry about the impact on the global economy.
The Derivatives Service Bureau's unique product identifier aims to help regulators track potential systemic risks within the OTC derivatives market.
Discussions around operational risk are rippling further down bank supply chains due to regulators taking more interest in resilience as digitisation gains momentum. However, there are concerns that not enough attention is being paid to future proofing risk management.
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