The three UK central counterparty clearing houses (CCPs) were able to withstand a simulated simultaneous default of two clearing members resulting in the largest losses or negative liquidity, according to a Bank of England (BoE) stress test. 

Some 15 crypto experts are being sought by the UK’s Financial Conduct Authority (FCA) to bolster its fledgling wholesale crypto policy unit – a move largely welcomed by the industry with the regulator facing a backlog of licensing requests.

Following years of social restrictions to stem the spread of Covid-19, Hong Kong has launched a HK$30bn ($3.8bn) initiative to boost the city’s attractiveness as a financial and business centre and to stop an exodus of talent.

According to the EU’s Official Journal, the use of the Unique Product Identifier (UPI) is to be embedded into the bloc’s law – a move welcomed by the Derivatives Service Bureau (DSB). 

European fixed income and equities markets could benefit from shorter settlement times as it would reduce counterparty and credit risk, but on the downside it could see more settlement ‘fails’ and complexity. 

The oversight body of the Basel Committee on Banking Supervision expects jurisdictions to implement all aspects of the Basel framework consistently and as quickly as possible in the face of resurgent inflation and deteriorating economic and financial conditions across much of the globe.

Plans by the De Nederlandsche Bank (DNB) to extend macro-prudential measures on Dutch housing loan portfolios have been endorsed by the European Banking Authority (EBA). 

Deteriorating economic conditions, high energy prices and soaring inflation have increased financial sector vulnerabilities, said the joint Autumn risk report by the three European Supervisory Authorities (ESAs) which advised firms and supervisors to plan for a challenging environment.