International

AML / KYC

US Targets Fuel Procurement Network in Latest DPRK Sanctions

By Editors | 11/10/2022

The sanctions are against two Singapore companies, a Marshall Islands entity, and two individuals for illicit ship-to-ship transfers to deliver fuel to North Korea.

Market Infrastructure

FSB Unveils Plans for Next Phase of Cross-Border Payments Work

By Editors | 11/10/2022

The prioritisation plan emphasises a need to strengthen external engagement and partnerships to take forward the roadmap for enhancing cross-border payments.

Crypto / Digital Assets

Binance Suffers Crypto Hack, But Contains Losses

By Editors | 10/10/2022

After managing to freeze the majority of the stolen assets, Binance said about $100mn in unrecovered funds remains, out of $570mn that was initially stolen.

ESG / Sustainability

Risk Monitoring Needed for Non-Climate ESG Risks: FSA

By Manesh Samtani | 09/10/2022

Risk practitioners should establish risk monitoring systems that cover sustainability themes beyond climate change, said the FSA’s Satoshi Ikeda.

Crypto / Digital Assets

CME to Launch New Crypto Reference Rates, Indices

By Editors | 08/10/2022

New reference rates and real-time indices will be introduced for AVAX, FIL and XTZ. The launch will not include tradable futures products.

Securities / Derivatives

IMF Calls on Policymakers to Address Fund Redemption Risks

By Editors | 08/10/2022

Policymakers should provide guidance on how open-ended funds should calibrate swing pricing and similar tools, and monitor their implementation.

Capital / Liquidity

Industry Says BCBS Cryptoasset Treatment is Prohibitive for Banks

By Manesh Samtani | 08/10/2022

The cap on banks’ exposures to cryptoassets should be raised from 1% to 5% of tier 1 capital, and based on net rather than gross exposures. The infrastructure risk add-on should be scrapped.

Crypto / Digital Assets

Russia Seeks to Legalise Crypto Mining in Some Regions

By Editors | 06/10/2022

The bill may be rejected by Russia’s parliament, because it does not specify tax procedures or requirements for data centres and mining operators.

Capital / Liquidity

BCBS Calls for Greater Use of CCyB by National Authorities

By Editors | 06/10/2022

Authorities should adopt a positive CCyB rate in normal times. A report evaluating the impact and effectiveness of implemented Basel reforms has also been released.