International

Crypto / Digital Assets

Swift Concludes 12 Weeks of Tests on CBDC Interlinking Solution

By Editors | 10/03/2023

Nine banks and three central banks participated in testing Swift’s API-based CBDC connector across two blockchain networks and fiat-based payment systems.

Fintech / Regtech

IOSCO to Develop Capacity Building Tool for Emerging Markets

By Editors | 09/03/2023

The so-called “MASI” tool will assist in self-assessments against the IOSCO core principles and facilitate comparisons against more developed regulatory frameworks.

Fintech / Regtech

FIA to Form New Global Taskforce in Response to ION Outage

By Manesh Samtani | 08/03/2023

The taskforce will assess existing cyber protections, response protocols, and safeguards around third-party service providers.

Big Picture

BIS Paper Takes Stock of Individual Accountability Regimes

By Manesh Samtani | 08/03/2023

The paper introduces the concept of the “accountability stack”, which presents a broad range of regulatory instruments and supervisory tools that target individual accountability.

Sanctions

Russia Extends Restrictions on FX Withdrawals, Overseas Transfers

By Editors | 08/03/2023

The restrictions are being preserved due to the sanctions that prohibit Russian financial institutions from buying western countries’ cash, the central bank said.

ESG / Sustainability

GASLA Issues Updated Framework for ESG and Securities Lending

By Editors | 08/03/2023

The updated framework provides offers guidance to help financial institutions evaluate securities lending in the context of their ESG policies.

Securities / Derivatives

CME Group to Launch Offshore Renminbi Options on 3 April

By Editors | 07/03/2023

USD/CNH options have become one of the most traded pairs in the OTC market. The new listed contracts will offer a centrally cleared alternative.

Crypto / Digital Assets

BIS Innovation Hub Nordic Centre Completes Retail CBDC Project

By Editors | 06/03/2023

Project Icebreaker shows that different countries can implement different CBDC solutions and still participate in a formalised interlinking arrangement to enable instant cross-currency transactions.

AML / KYC

US Authorities to Target Those Who Facilitate Sanctions Evasion

By Editors | 06/03/2023

China (incl. HK and Macau), Armenia, Turkey and Uzbekistan are named as “transshipment points commonly used to illegally redirect restricted items to Russia or Belarus”.