Sanctions

US, UK Prepare to Use Frozen Russian Assets to Help Ukraine

19/06/2023

New US law would allow frozen Russian assets to be confiscated and used to finance Ukraine’s reconstruction.

Big Picture

Richmond Fed Offers Insights on the Use of AI in Banking

19/06/2023

Bank supervisors express optimism regarding banks’ ability to leverage AI-based models in credit evaluation, despite the challenges.

AML / KYC

US Court Orders Binance to Isolate US Business from Global Operations

19/06/2023

The SEC said the “emergency relief” helps ensure that Binance.US customers are protected and their assets remain in the US.

Market Infrastructure

HKEX Launches HKD-RMB Dual Counter Model

19/06/2023

24 Hong Kong-listed companies have started offering both HKD and RMB trading counters.

AML / KYC

US Judge Splits Bankman-Fried Charges into Two Separate Trials

16/06/2023

Extradition from the Bahamas was agreed to based on only eight charges, not the full 13 charges Sam Bankman-Fried now faces.

Capital / Liquidity

China Set to Unveil New Stimulus, On Top Of Rate Cuts

15/06/2023

Regulators are expected to further lower mortgage costs, boost re-lending through policy banks, and cut banks’ reserve requirements.

Crypto / Digital Assets

US SEC Responds to Court Order on Crypto Rulemaking

14/06/2023

The SEC said it has not yet decided what action to take regarding Coinbase’s rulemaking petition, but that it will provide an update by 11 October 2023.

AML / KYC

Experts Critical of FATF Effectiveness in Combating Kleptocracy

14/06/2023

Panellists at a high-level conference expressed concern that countries with strong connections and clout received lenient treatment from the FATF.

Capital / Liquidity

UBS Closes Credit Suisse Deal, Imposes ‘Red Lines’ on Bankers

13/06/2023

FINMA said its intensive supervision will “definitely continue”. MAS said it expects both banks to handle the implications for jobs “responsibly”.