Capital / Liquidity

HKEX to Increase Size of Futures Market Reserve Fund

30/03/2023

HKFE Clearing Corporation has revised the default assumption used in calculating the Reserve Fund size.

Securities / Derivatives

DBS Seeks to Establish Additional China Subsidiary

30/03/2023

DBS launched its China securities joint venture last June. If approved, the new subsidiary would be used to sponsor stock listings.

AML / KYC

Credit Suisse Violated 2014 Plea Deal with US DOJ

30/03/2023

UBS could be forced to pay US authorities $1.3bn – the amount Credit Suisse had discounted from its 2014 plea deal.

AML / KYC

26 Countries Commit to Transparent Beneficial Ownership

29/03/2023

The US-led initiative commits participating countries to implementing the FATF’s revised Recommendation 24 to combat corruption.

Capital / Liquidity

Fed, FDIC Probe Adequacy of Oversight at Collapsed Banks

29/03/2023

Fed review of SVB will consider supervisory failures. FDIC is investigating misconduct by bank directors, officers, and other parties.

Big Picture

Too Big to Fail Reforms Don’t Work, says Swiss Official

28/03/2023

Credit Suisse’s “too big to fail” emergency plan would have triggered an “international financial crisis”, according to Swiss finance minister Karin Keller-Sutter.

Capital / Liquidity

First Citizens Bank to Takeover SVB Deposits and Loans

27/03/2023

The FDIC and First Citizens Bank & Trust Co will share the losses and potential recoveries on commercial loans made by SVB.

Capital / Liquidity

Industry Welcomes Regulator Commitments to Prioritise Bondholders

24/03/2023

Regulators respond to Swiss decision to wipe out Credit Suisse bondholders by pledging to respect the bank rescue hierarchy in a crisis.

Crypto / Digital Assets

US SEC Warns Coinbase of Impending Enforcement Action

24/03/2023

Coinbase met with the SEC 30 times over 9 months and spent millions of dollars trying to help it create a registration path for crypto exchanges.