Under part two of the second phase of SOFR First, interdealer brokers are asked to use SOFR instead of LIBOR in the USD leg of all newly-executed cross-currency derivatives.
15 out of 24 FSB member jurisdictions have implemented higher capital requirements for non-centrally cleared derivatives, compared to just 8 in 2020.
Customs, police, FIUs and wildlife and forestry enforcement agencies in 118 countries participated in the operation, which has led to hundreds of arrests and over 1,000 seizures.
The FSB identifies good practices to help authorities enhance their preparedness for the management and resolution of a crisis affecting a G-SIB.
Fallbacks for institutional cash products are now production benchmarks. Prototype fallbacks for consumer cash products will be launched on 3 January 2022.
Interpol’s Rory Corcoran says environmental crime is funding global terrorism and organised crime, while also impacting the sustainability agenda.
The operation was used to test a new worldwide stop-payment mechanism which Interpol plans to fully embed in police communication channels next year.
Improving access to client clearing is "critical" to ensuring all standardised OTC derivatives contracts are cleared through CCPs.
The FSA's Satoshi Ikeda says corporate disclosures need to capture genuine progressive efforts towards achieving carbon net zero, not just point-in-time snapshots.
Energy-intensive and unregulated, institutional investors are proving reluctant to back the rapidly growing asset class.
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