International

ESG Data

IOSCO Issues Final Report on Regulating ESG Ratings & Data

By Editors | 23/11/2021

Regulators should promote more transparency regarding the methodologies that ESG ratings and data product providers use, IOSCO says.

Capital Adequacy

FSB Publishes 2021 List of Global Systemically Important Banks

By Editors | 23/11/2021

JP Morgan, BNP and Goldman have moved to higher buckets, meaning they will have to hold larger capital buffers from 1 January 2023.

Structural Regulation

FSB Calls for Urgent Action Complete LIBOR Transition Steps

By Manesh Samtani | 23/11/2021

The FSB says transition should be “primarily to overnight RFRs” and that it is closely watching market developments regarding credit-sensitive rates.

Payments & Settlements

CPMI Proposes to Extend & Align RTGS Operating Hours

By Editors | 19/11/2021

CPMI proposes to align RTGS operating hours so they can be used for cheaper, faster, and safer cross-border payments.

Emerging Prudential Risks

FSB Plenary Agrees Work Programme for 2022

By Manesh Samtani | 18/11/2021

The programme includes work around the response to Covid-19, NBFI resilience,  crypto/stablecoin/DeFi risks, climate risk, and the post-2008 crisis reforms.

CBDCs

A Regulatory Minefield: The Future of Digital Currency

By Mark Johnston | 18/11/2021

Digital currencies are the regulatory challenge of our time with significant upsides of financial inclusion, but also a minefield requiring careful navigation.

Climate Risk

SBTi to Define Net Zero Standard for Financial Institutions

By Editors | 16/11/2021

SBTi identifies three approaches to net-zero definitions for FIs. It plans to define a standard for FIs to use in target-setting and performance-tracking.

Emerging Prudential Risks

BCBS Consults on Principles for Banks’ Management of Climate Risks

By Editors | 16/11/2021

The principles offer guidance for banks on corporate governance, internal control frameworks, risk management, risk reporting, and scenario analysis, among other areas.

Structural Regulation

FCA Confirms Rules on Using Synthetic GBP and JPY LIBOR

By Manesh Samtani | 16/11/2021

Synthetic GBP and JPY LIBOR rates will be published until end-2022 and can be used in all legacy LIBOR contracts other than cleared derivatives.