International

CBDCs

ECB Launches Multi-year Digital Euro Project

By Ranamita Chakraborty | 15/07/2021

The plan is to allow regulated banks and fintechs to open accounts at the ECB so they can offer digital euro wallets to customers.

Anti-Money Laundering

European Commission Seeks Establishment of New AML Authority

By Ranamita Chakraborty | 15/07/2021

The new authority would be able to directly oversee the financial firms operating across multiple member states and issue penalties for AMLviolations.

Sustainable Finance

New Governance Body to Unify Global Carbon Markets

By Ranamita Chakraborty | 14/07/2021

A new governance body will be formed to standardise operations of voluntary carbon markets and unify them behind a consistent set of values and standards.

Emerging Prudential Risks

New Standard Published to Assess Islamic Deposit Insurance Systems

By Editors | 14/07/2021

The IADI and IFSB have developed a set of core principles that can be used to develop and assess the effectiveness of Islamic deposit insurance systems.

Emerging Prudential Risks

FSB Takes Stock of Covid-19 Lessons on Financial Stability

By Manesh Samtani | 13/07/2021

Covid-19 may yet test the resilience of the global financial system, as lenders could still face additional losses as support measures are unwound, the FSB warns.

KYC & CDD

Covid-19 Forced Companies to Short-cut KYC, Due Diligence

By Ranamita Chakraborty | 13/07/2021

A new Refinitiv report has found that Covid-19 substantially increased customer and third-party risks. Yet it also increased focus on ESG and green crime.

CBDCs

Multilateral Collaboration Essential for CBDC Development

By Editors | 13/07/2021

A new report from CPMI, BIS Innovation Hub, the IMF and the World Bank highlights the need for multilateral collaboration and interoperability between CBDCs.

Climate Risk

International Organisations to Launch Climate Training Alliance

By Editors | 12/07/2021

The initiative will see the establishment of a dedicated online portal for global training on climate risks for central banks and supervisors.

Climate Risk

G20 Endorses Use of Carbon Pricing Mechanisms, Incentives

By Manesh Samtani | 12/07/2021

The use of carbon pricing mechanisms and incentives was included in the G20 communique among the set of tools to facilitate the transition to a more sustainable economy.