Prudential Risk

Cryptocurrency

Crypto Lender Genesis Files for Bankruptcy Protection

By Editors | 24/01/2023

Genesis has more than 100,000 creditors who may be owed up to USD 10 billion. The biggest creditor is crypto exchange Gemini.

Climate Risk

US Fed Issues Instructions on Climate Scenario Analysis

By Editors | 24/01/2023

Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley and Wells Fargo are asked to submit their responses by 31 July 2023.

Emerging Prudential Risks

US OCC Outlines Framework for “Too-Big-to-Manage” Banks

By Editors | 24/01/2023

The OCC is looking to provide more transparency into its escalation framework for dealing with banks that become too big to manage.

Operational Risk

NZ FMA Publishes First Risk Assessment of Fund Management Sector

By Editors | 23/01/2023

Risk management practices and controls used by fund managers reduce overall risk but “pockets of relatively higher risk” still exist.

Market Risk

BOJ Seeks Greater Control Over Yield Curve With Rule Change

By Editors | 19/01/2023

Under the revised rules, the BOJ can provide FIs both fixed and variable-rate loans across a range of tenors up to 10 years.

Resolution & Recovery

India Proposes Changes to Insolvency and Bankruptcy Code

By Editors | 19/01/2023

The simplified process currently available to small firms under the IBC will be expanded to some larger firms, among other changes.

Emerging Prudential Risks

Implementation of 2013 NBFI Reforms Are Incomplete: FSB

By Editors | 19/01/2023

Jurisdictions have not finished implementing Basel III reforms to mitigate spillovers between banks and non-bank financial entities.

Credit Risk

ECB Identifies Weak Risk Management at EU Banks

By Editors | 18/01/2023

The ECB identified “material shortcomings” in how banks manage counterparty credit risks. Banks should “promptly address weaknesses”.

Resolution & Recovery

Chinese D-SIBs Have $550bn TLAC Shortfall: S&P Global Ratings

By Editors | 18/01/2023

Under rules released in 2021, China’s four G-SIBs will have to hold TLAC equal to 16 percent of their risk-weighted assets by 1 January 2025.