The state budget plan would reportedly allow legacy LIBOR contracts to use the replacement rate recommended by the Fed Board, the New York Fed, or the ARRC.
January 25, 2021Stablecoin participants and arrangements should register with FinCEN and comply with AML, sanctions, recordkeeping and reporting requirements.
December 31, 2020IBA intends to continue publishing the overnight and 1, 3, 6 and 12 month USD LIBOR settings until 30 June 2023. All other LIBOR settings would cease by 31 December 2021.
December 7, 2020ICE Benchmark Administration intends to continue publishing some tenors of USD LIBOR until end-June 2023, which could allow time for most legacy contracts to mature.
December 1, 2020The Fed, OCC and FDIC have asked banks to move away from LIBOR 'without delay', accelerate customer outreach, and prepare their systems for the transition.
November 16, 2020Financial institutions will have to collect, retain, and transmit information related to any international transaction over $250, including those involving crypto assets.
October 26, 2020Under the coordinated resolution, Goldman will pay $606mn in disgorgement and more than $2.3bn in penalties to authorities in the US, UK, Hong Kong and Singapore.
October 23, 2020The Federal Reserve and OCC are expected to require Citigroup to develop and execute a plan to improve its risk management systems.
September 17, 2020A presidential working group which includes the chairmen of the SEC, CFTC and Fed has recommended changes to US listing rules to require access to companies' audit papers.
August 8, 2020The Fed's stress tests found that roughly a quarter of the US big banks would approach the 4.5% minimum CET1 capital requirement in a worst-case scenario, a W-shaped recovery.
June 29, 2020