International

Big Picture

“Notable Progress” in Financial Institutions’ D&I Policies: BIS

By ESG Investor | 28/05/2022

International standards could be more explicit in articulating expectations on diversity and inclusion practices.

Big Picture

World Bank Paper Explores Barriers to Stablecoin, CBDC Adoption

By Sanday Chongo Kabange | 28/05/2022

Stablecoins and CBDCs may not offer advantages over innovations that are built on top of or aim to improve existing financial plumbing.

AML / KYC

US Treasury Puts Russia on Path to Sovereign Default

By Manesh Samtani | 27/05/2022

The US Treasury Department allowed its sanctions exemption for Russian payments to US bondholders to expire.

Fintech / Regtech

ISLA, ICMA Advance Work to Digitise Industry Documentation

By Editors | 27/05/2022

ISLA and Linklaters are working to automate securities lending contract negotation. ICMA is looking to digitise repo documentation.

Securities / Derivatives

WFE Sheds Light on Effectiveness of Circuit Breakers

By Editors | 26/05/2022

The study shows that the circuit breakers triggered during the March 2020 volatility contributed to alleviating financial market pressures.

AML / KYC

Glencore to Pay $1.5b to Settle Bribery & Manipulation Probes

By Manesh Samtani | 26/05/2022

The civil and criminal penalties and forfeitures will resolve a decade-long scheme to bribe foreign officials in seven countries and an oil price manipulation conspiracy.

Market Infrastructure

Implementation of Global Tax Reforms to Be Delayed

By Editors | 26/05/2022

The full text of the agreement will not be ready by mid-year as originally planned. Implementation is now expected in 2024 rather than 2023.

Crypto / Digital Assets

SWIFT to Develop Capabilities to Interlink CBDCs With Payment Systems

By Sanday Chongo Kabange | 25/05/2022

SWIFT will seek to interlink multiple CBDC platforms with existing payment systems, using existing bank messaging standards and authentication models.

Crypto / Digital Assets

GBBC, GDF Merge to Create 500 Member Association

By Editors | 25/05/2022

The combined influence of GBBC and GDF is expected to help facilitate global collaboration on a robust global framework for crypto assets.