Europe

Sanctions

UK Sanctions Russians Over ‘Politically-motivated Conviction’

By Editors | 21/04/2023

The sanctions target two FSB agents who were allegedly involved in poisoning political activist Vladimir Kara-Murza, as well as a judge and two investigators.

Capital / Liquidity

ECB Calling on US Banks to Relocate More Assets to EU

By Mark Johnston | 21/04/2023

The ECB has urged US banks to move more assets and risk to the euro area after a “desk mapping” review that took place last year.

Crypto / Digital Assets

Societe Generale Launches EUR Stablecoin on Public Blockchain

By Editors | 21/04/2023

The stablecoin’s legal structure guarantees complete segregation of the collateral assets held to back its value.

Securities / Derivatives

Singapore Investors Prepare to Sue Over Credit Suisse AT1 Bond Losses

By Editors | 21/04/2023

Lawyers for Singapore investors are preparing to argue that the Swiss government’s decision to write off Credit Suisse AT1 bonds violated a free trade agreement.

AML / KYC

European Parliament Gives Final Approval on MiCA Law

By Manesh Samtani | 21/04/2023

MiCA is expected to come into force around July; provisions relating to stablecoins from July 2024; and provisions relating to CASPs and the travel rule from January 2025.

Capital / Liquidity

EU Proposes to Adjust Bank Crisis Management Framework

By Editors | 20/04/2023

The proposal will facilitate the use of deposit guarantee schemes and resolution funds to shield depositors from bearing losses in banking crises.

Crypto / Digital Assets

ECB Urged to Improve Design Features of Digital Euro

By Mark Johnston | 20/04/2023

A new study evaluates the ECB’s progress on the digital euro and suggests ways to enhance its attractiveness and functionality.

Crypto / Digital Assets

BIS, BOE Unveil Findings from Payments Synchronisation Project

By Manesh Samtani | 19/04/2023

Project Meridian demonstrated the ability to synchronise property ownership transfer with payment settlement using central bank money.

Securities / Derivatives

Two More Chinese Firms List GDRs in Switzerland

By Editors | 19/04/2023

The listings come despite last month’s reports that Chinese regulators had stopped accepting applications from mainland firms seeking to issue GDRs in Switzerland.