Europe

Securities / Derivatives

LME Discovers Nickel Bags Containing Stones at Warehouse

By Editors | 19/03/2023

The already embattled LME is postponing the reopening of Asian trading to allow its warehouse operators to recheck warranted nickel.

Sanctions

Raiffeisen Mulls Sberbank Cash Swap to Reduce Russia Exposure

By Editors | 19/03/2023

The deal involves Sberbank receiving roubles in Moscow from Raiffeisen’s Russian subsidiary, and Raiffeisen receiving euros in Vienna from Sberbank’s former European arm.

ESG / Sustainability

Bangladesh, UK Signs Pact to Tackle Climate Change

By Sanday Chongo Kabange | 18/03/2023

Bangladesh and the UK stressed the need to work to increase access to climate finance by climatically vulnerable countries and secure greater funding for adaptation.

Capital / Liquidity

Credit Suisse to Borrow Over $50b from Central Bank Facilities

By Editors | 17/03/2023

The bank will also repurchase some of its senior debt securities as part of efforts to manage its liability composition and optimise interest expense.

Enforcement

Swedbank Fined for IT Incident Which Impacted 1m Customers

By Editors | 16/03/2023

Swedbank made a change to a business-critical IT system without following its internal procedures and processes.

AML / KYC

US, German Authorities Coordinate on Takedown of Crypto Mixer

By Editors | 16/03/2023

Authorities dismantled ChipMixer’s infrastructure and seized four servers, about USD 46 million worth of bitcoin, 7 TB of data, two domains, and a Github account.

Capital / Liquidity

Swiss Regulators Offer Credit Suisse a Show of Support

By Editors | 16/03/2023

FINMA said Credit Suisse meets capital and liquidity requirements applicable to systemically important banks. SNB will provide liquidity to the bank if necessary.

AML / KYC

UK to Start Collecting New Economic Crime Levy from July

By Editors | 15/03/2023

The economic crime levy will apply to financial firms, auditors, tax advisers, crypto firms, and other regulated entities.

ESG / Sustainability

European Banks to Undergo Climate, Cyber Stress Tests

By Mark Johnston | 15/03/2023

European regulators have been asked to conduct a one-off climate risk scenario analysis. The ECB separately plans to launch a thematic stress test on cyber resilience.