Regulation
Biden re-nominates Powell as Fed chair
Lael Brainard nominated as vice-chair, to take over from Richard Clarida
Should ESG reporting be made mandatory?
As concern around the impact of climate change on businesses grows, many regulators have announced their intentions to include ESG requirements in reporting frameworks
Basel Committee launches principles for climate supervision
Basel framework can accommodate climate risks, but supervisors need guidance, committee says
Bank Negara Malaysia set to implement consumer credit law
“Long-awaited” law will regulate consumer lending in Malaysia, including “buy now, pay later”
Brazilian governor outlines climate reporting rules
Campos Neto says Brazil’s banks must file climate risk reports from June 2023
Fed warns of China debt risks
Financial Stability Report mainly optimistic about systemic health, including housing market
Quarles will resign from Fed board at end of year
Former vice-chair for supervision had 10 years left as governor
Argentine central bank freezes banks’ FX purchases
BCRA order comes amid a falling peso, IMF talks and mid-term elections
People: ECB appoints new head of macro-pru
BIS names Innovation Hub directors; Bundesbank sends representative to Madrid; and more
UAE central bank announces new cyber security centre
Gulf state saw huge increase in cyber attacks in 2020
UAE partly decriminalises passing bad cheques
New law meant to encourage recovery, justice and more modern forms of payment
US regulators call for new stablecoin regulations
Working group wants issuers to be insured and regulated like banks
Senators introduce Fed ethics law
Democrats’ proposals would put board’s ethics rules on statutory footing and impose fines
HKMA says firms must report on national security law suspects
Financial regulators say firms must report on those arrested under anti-dissident law
Bank of Mexico creates environmental and social risk department
Central bank’s attitude to environmental risk might put it at odds with government, says commentator
Fed board member says US community banks under threat
Michelle Bowman says smaller community institutions play vital role for ethnic minorities
Fed announces strict new trading rules for senior officials
Regulations would ban individual investments, increase disclosure and restrict transactions
Fed ethics officials warned against trades
March 2020 advice cautioned against stock transactions in following months
James Bullard on Fed policy, action and governance
St Louis president calls for tapering amid “exceptional” job market and risk of “more persistent” inflation, quantifies ‘big tent language’ for pioneering AIT move, and details Congress’s role in Fed ethics oversight
Quarles term as Fed vice-chair ends without replacement
Fed supervision committee will continue without a chair, acting on consensus basis
Crypto asset transactions hit ‘macro critical levels’ – IMF GFSR
Crypto valuations “already systemic” in “many countries”, international rules "probably some time away", says IMF’s Adrian
FSB to press ahead with money market fund reforms
Asset managers had argued turbulence in MMFs during Covid was symptom of stress not cause
China’s financial market at risk of ‘distress’, RBA report warns
Authorities may have to choose between market discipline and intervention to save Evergrande
People: US Senate confirms CFPB head
Israel adds new member to MPC; Swiss deputy governor will undergo heart surgery