International

Anti-Money Laundering

FATF Plenary Adds Four Countries, Removes One from Grey List

By Manesh Samtani | 27/10/2024

The FATF also revised its national ML risk assessment guidance, agreed to consult on revisions to support financial inclusion, and launched three new projects.

Market Abuse

US Court Fines Chinese Citizen for Fictitious Sales Scheme

By Mark Johnston | 27/10/2024

Yueyu Bao was fined and banned for orchestrating a series of non-competitive, fictitious trades with his cousin on the Chicago Board of Trade.

Payments & Settlements

BRICS Nations Agree to Continue Working on Cross-Border Payments

By Manesh Samtani | 27/10/2024

Russia has proposed an alternative platform for international payments, but few practical steps have been taken so far towards implementation.

Emerging Prudential Risks

IMF Warns Against Complacency Amid Geopolitical Uncertainty

By Thisanka Siripala | 26/10/2024

Market complacency could lead to an underestimation of risks and increase the chance of sudden surges in volatility and sudden shocks.

Payments & Settlements

HSBC Hong Kong Becomes Direct Participant of China’s CIPS

By Editors | 26/10/2024

The move will make it easier for overseas companies to trade and invest using the Chinese currency by making yuan payments faster and cheaper.

PEPs & Sanctions

DOJ Can Prosecute State-Owned Turkish Bank, Court Rules

By Editors | 25/10/2024

Halkbank was accused in 2019 of helping Iran to evade US sanctions, but the possibility of legal immunity surrounding the case has been ongoing until now.

Capital Adequacy

BCBS Chair Warns Against Watering Down Basel III Rules

By Thisanka Siripala | 25/10/2024

A fragmented bank regulatory world could trigger “a race to the bottom” across jurisdictions and result in a “frail regulatory framework”, said Erik Thedeen.

Climate Risk

BCBS Seeking Better Understanding of Banks’ Climate Practices

By Editors | 25/10/2024

The BCBS surveyed banks on their practices for collecting data, adapting their IT systems, and using tools like scenario analysis, among other areas.

PEPs & Sanctions

US Finalised $20b Portion of G7 Loan for Ukraine

By Editors | 24/10/2024

The rest of the $50bn loan will be provided by other G7 allies. Earnings from frozen Russian assets will be used for repayments.