Regulation
Cuban central bank to license crypto service providers
Resolution may encourage greater use of virtual currencies for remittances
US banks anticipate delay to Basel III implementation
New Fed supervision head expected to align schedule with EU and Japan, but time is tight
BoE backs cut to insurers’ capital requirements
Post-Brexit move to ease regulations requires tightening of some other rules, central bank says
Bank of Jamaica will expand supervision of climate risks
Central bank notes island country is among 20 most vulnerable to climate change
BoE’s Woods envisages radically simplified capital regime
Prudential regulation head sketches simplified Basel III alternative
Paraguay legislative committee rejects crypto law
The central bank issued strong objections to the law, which passed the upper house in December
BoE paper finds benefits from swing pricing
Cost-benefit analysis suggests net benefit to curbing non-bank liquidity risk through swing pricing
Biden nominates Barr for Fed supervision post
Previous nominee Sarah Bloom Raskin withdrew in March after Republican attacks
MAS crypto regulatory powers extended
New bill brings virtual asset providers under AML/CFT regulation
UAE central bank to 'Emiratise' finance sector
Measure will reserve 5,000 jobs for nationals by 2026
Brazil moves forward with crypto legislation
Economic committee votes to give the central bank new regulatory powers
US regulators fine Pakistani state-owned bank
Central bank-owned NBP will pay more than $55 million for AML shortcomings
Ecuador congress removes bank regulator
Legislators charged Ruth Arregui with failure to perform duties of her office
Planned EU cross-border trading ban to hit most large markets
Most major jurisdictions currently provide either interdealer or client exemptions
Bolivian authorities implement crypto ban
Central bank will enforce 2020 measure banishing virtual assets from payments system
The longest book ever written?
The Single Rulebook on EU financial regulation is a serious contender for the prize of the longest book ever written. But will it deliver a safer and better financial system?
Kenyan central bank to oversee digital lenders
Governor had requested “teeth” from parliament but lawmakers removed some powers
China rolls out loss-absorbency rules for systemic banks
China to follow FSB standard, telling G-Sibs to build buffers worth 18% of risk-weighted assets
Quarles term as Fed vice-chair ends without replacement
Fed supervision committee will continue without a chair, acting on consensus basis
FSB to press ahead with money market fund reforms
Asset managers had argued turbulence in MMFs during Covid was symptom of stress not cause
CPMI and Iosco say systemic stablecoins must meet FMI principles
Stablecoins perform similar functions to other financial market infrastructures, say bodies
More regulatory action on big tech may be needed – FSI paper
Actions so far may not be enough to address growing risks, says Financial Stability Institute
OCC issues $250 million penalty against Wells Fargo
US regulator says bank has failed to meet commitments on loss mitigation