Big Picture

An increased use of stablecoins constitutes "one of the greatest points of vulnerability of the DeFi market" and a potential channel of risk transmission to the traditional financial markets.

Weaker firms respond to lower long-term yields by refinancing debt. Healthier firms tend to increase cash holdings and share buybacks.

Chainalysis estimates that illicit wallet addresses received $14bn throughout 2021, but this represented just 0.15% of total transaction volumes in crypto during the year.

The pandemic highlighted that greater automation of compliance and supervisory processes may better accommodate a remote workforce.

The FRTB treatment of equity investments in funds is "excessively conservative" and could prompt banks to reduce their activity in the sector, ultimately weakening the market.

A BIS paper says platform-based business models can lower costs and aid financial inclusion, but they can also give rise to digital monopolies and oligopolies.

The climate crisis, growing social divides, heightened cyber risks, an uneven global recovery and competition in space were cited as key risks.

The FSB requests feedback on two papers that seek to address issues for insurers related to resolution planning and interconnectedness.

Gatekeeper professions play an important role in facilitating North Korean sanctions evasion, RUSI says in a new paper.

GFI says countries need to make trade misinvoicing illegal at the national level and strengthen law enforcement capacities of customs authorities.