Crypto / Digital Assets

Flagstar Bank to Assume Signature Bank Deposits, FDIC Says

21/03/2023

The New York Community Bancorp subsidiary will assume “substantially all” the deposits of Signature Bank and buy $12.9bn of its loans at a discount.

AML / KYC

Star Entertainment Admits to Breaking QLD Casino Laws

20/03/2023

Star pleaded guilty to seven charges of allowing customers to buy chips with credit cards at its Queensland casinos.

Capital / Liquidity

US Bank Body Calls for Backstop to Cover All Midsized Lenders

20/03/2023

A group of midsized US lenders is calling on regulators to extend deposit protection to all deposits for the next two years to prevent a wider run on banks.

Securities / Derivatives

CBIRC Overhauls Regulatory System for Trust Industry

20/03/2023

Trust companies have three years to adapt to the new rules, but plans for how they will do so need to be submitted to the CBIRC within 30 days.

Capital / Liquidity

Multiple Reviews in 2021 & 2022 Identified Deficiencies at SVB

20/03/2023

Deficiencies were identified in 2021 but left unaddressed. Last year, Fed officials warned SVB executives about liquidity and the models used to calculate capital.

Enforcement

India Supreme Court Orders SEBI to Refund NSE

20/03/2023

Supreme Court quashes SEBI’s orders against NSE for alleged lapses in network systems that favoured high-frequency traders.

AML / KYC

UK OFSI Issues Guidance on Assessing Ownership and Control

20/03/2023

Updated guidance sets out expectations around the due diligence that should be performed to assess whether entities are owned or controlled by designated persons.

Enforcement

Biden Seeks to Hold Executives Accountable for Bank Failures

20/03/2023

Joe Biden is asking Congress to make it easier for regulators to fine and ban executives of failed banks and claw back compensation.

Capital / Liquidity

IMF Approves $3b Funding Arrangement for Sri Lanka

20/03/2023

The Executive Board’s decision enables an immediate disbursement worth $333mn million. Sri Lanka agreed to fiscal, monetary, governance and anti-corruption reforms.