Regulation
Mexico reminds banks crypto transactions are illegal
After El Salvador bitcoin law, authorities state virtual assets ‘not legal tender in Mexico’
FSB proposes menu of policies to tackle money market fund risks
Proposal aims for tailored approach to boosting resilience of key funding markets
Big banks pass Fed stress tests
Quarles: “The banking system is strongly positioned to support the ongoing recovery”
US Congress votes to repeal ‘true lender’ rule
Trump-era provision allowed lenders to partner with big banks, which prompted usury fears
EU blocks 10 major banks from bond issuances
Commission alleges lenders need to clarify previous antitrust breaches
Basel Committee proposes strict treatment of crypto asset exposures
Crypto assets such as bitcoin will face risk weight of 1,250%
US court throws out suit against fintech charters
Judges dismiss challenge to Comptroller of the Currency on procedural grounds
Bank of Russia amends market manipulation rules
Regulations updated to take account of recently developed scams and influx of new investors
Swedish investors favour EU-wide securities market harmonisation
But public consultation receives some resistance to using Target2-Securities for Swedish securities settlement
Think-tank urges Fed to tackle climate risk with capital regulation
Paper calls for more urgent Fed action to address risks in bank and non-bank sectors
UK regulators launch plan for less liquid fund structure
Aim is to allow productive investment for the long term while curbing vulnerabilities
BoE’s Nelson warns against ‘rigid’ approach to op risk
Firms may fear the “wrath” of regulators, but rules should not offer guarantees, says official
Bangladesh Bank intervenes over commercial lender
Central bank prohibits new loans and oversees appointments, saying it has found "irregularities"
BoE prepares to break with EU rules on smaller banks
Central bank signals a more tailored approach to regulating non-systemic banks
Peru’s central bank caps consumer interest under protest
Central bank governor and president say new law will damage the economy
IMF warns Tuvalu risks exclusion from global banking system
Country must improve AML framework and domestic lending practices, fund says
Bolivia places new restrictions on FX movements
All transactions over $20,000 must go through banking system
Capital and liquidity rules work better together, BoE paper finds
Literature review finds having both requirements is better than just one, but “significant gaps exist”
Kuwaiti central bank orders local national quota for bank managers
Central bank says 70% of management of local banks must be Kuwaitis by 2023
Final FSB report warns ‘gaps’ remain in resolution framework
Study highlights “progress” but also shows “more can be done”, says Claudia Buch
Bank regulation can ease non-bank distortions – BIS paper
Authors challenge common narrative that bank regulation can worsen non-bank instability
Fed vice-chair: Libor will end
Libor use has expanded, but Quarles says Fed is looking for transition plans
US regulators end leverage ratio exemption
Fed, OCC and FDIC stick to March 31 end date despite reports of industry lobbying
Myanmar central bank suspends over 200 staff for coup protests
Move comes as junta cracks down on government employees joining opposition protests