Bank of China and ICBC are reportedly preparing for worst-case possibilities that they could be cut off from US dollars or lose access to US dollar settlements.
The available supervisory tools to accelerate transition at banks could include ad-hoc regulatory capital add-ons, administrative sanctions or other legal actions.
The first centrally cleared HONIA interest rate swap contract was between BOCHK and HSBC, marking a significant step to promote HONIA’s adoption in the financial industry.
Firms should "tell the story" of how their businesses are impacted by the Covid-19 pandemic, including support and assistance received from government, lenders, landlords and others.
Stablecoins are better placed than many virtual assets to achieve mass-adoption, which makes them vulnerable to AML/CTF risk, the FATF says.
Completion of the final adjustments to the CVA framework represents the conclusion of outstanding policy work related to the Basel III framework.
From 1 January 2021, large and listed Danish companies will disclose information about their data ethics policy, AI tools and algorithms in annual reports.
APRA will also allow banks to treat loans restructured by 31 March 2021 as 'performing' for capital and regulatory reporting purposes.
Deutsche Bank has been fined $150mn for its dealings with known sex trafficker Jeffrey Epstein and its correspondent banking relationships with Danske Bank Estonia and FBME Bank.
35 of 54 reporting jurisdictions have implemented the FATF Standards on virtual assets and VASPs, and progress has been made to develop technology for travel rule implementation.