Europe

Sanctions

EU Starts Work on 14th Russia Sanctions Package

By Editors | 10/04/2024

Valdis Dombrovskis said the 14th package against Russia would have a “strong anti-circumvention focus” and “should be adopted in spring”.

Market Infrastructure

EU Firms “Prepared” to Meet UPI Reporting Requirments: DSB

By Editors | 10/04/2024

The DSB said its user onboarding data reveals a steady increase in EU headquartered firms joining the UPI service.

Capital / Liquidity

FINMA Attempts to Withhold Documents in Credit Suisse-related Lawsuits

By Editors | 09/04/2024

The lawsuits relate to losses suffered by investors as a result of a decision by Swiss authorities to wipe out Credit Suisse AT1 bonds in the bank’s rescue last year.

Crypto / Digital Assets

ESMA Calls on EU Commission to Clarify Aspects of DLT Pilot Regime

By Manesh Samtani | 08/04/2024

Four applications have been received and eight others are expected in 2024, but no authorisations have been granted under the Regime.

Capital / Liquidity

Bank Capital Rules Are Holding Back Transition: Study

By ESG Investor | 05/04/2024

EBA analysis found that the models used by banks produce a lower risk rating for high carbon than low carbon sectors.

Crypto / Digital Assets

ECB Announces Participants for Upcoming DLT Settlement Trials

By Editors | 05/04/2024

The first wave of trials will involve ten market participants, six market DLT operators, and five central banks.

Fintech / Regtech

UK Sets Out Proposed Approach to Digital Securities Sandbox

By Editors | 04/04/2024

The sandbox will allow experimentation with DLT and “may lead to a new permanent regulatory regime for securities settlement”.

Sanctions

OFAC Removes Former VTB Bank Subsidiary from Sanctions List

By Editors | 04/04/2024

German authorities took control of VTB’s European subsidiary in 2022. The Russian parent was unable to exercise its rights due to sanctions.

Crypto / Digital Assets

New BIS Project Seeks Overhaul of Global Payment System

By Manesh Samtani | 04/04/2024

Seven central banks will develop common infrastructure that can accommodate tokenised versions of wholesale central bank money and commercial bank deposits.