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International
PEPs & Sanctions
BRICS Nations Face ‘100% Tariffs’ if They Move Away from USD
By Editors | 02/12/2024
President-elect Trump said the BRICS nations will face “100% Tariffs” if they create a new BRICS currency or back any other currency to replace the US dollar.
CBDCs
Iran Launch of CBDC to Combat Sanctions is ‘Imminent’ – Report
By Editors | 02/12/2024
The Central Bank of Iran also recently launched a SWIFT alternative, the “ACU-MIR” system, which is enabling transactions with countries such as India and Pakistan.
Cybersecurity
UK Launches AI Security Research Lab to Defend Against Cyber Threats
By Thisanka Siripala | 02/12/2024
The Lab will seek collaboration with the Five Eyes members to defend against the use of AI for malicious purposes, including attempts by Russia and North Korea.
CBDCs
Central Banks Offers Legal and System Design Lessons for Retail CBDC
By Manesh Samtani | 01/12/2024
Seven central banks have published two new papers summarising key legal and system design aspects of retail CBDC.
Anti-Money Laundering
Morgan Stanley Internal Documents Show Scale of AML Deficiencies
By Nithya Subramanian | 30/11/2024
Nearly a quarter of the bank’s international wealth accounts were reportedly flagged in 2023 for elevated money laundering risks.
Capital Adequacy
BCBS Publishes Report on Implementing Positive Neutral CCyB
By Manesh Samtani | 29/11/2024
The report describes different jurisdictional frameworks for implementing a positive neutral CCyB and approaches to calibration and operation.
PEPs & Sanctions
Russian Central Bank Intervenes to Support Crashing Ruble
By Manesh Samtani | 29/11/2024
The ruble’s sharp fall to levels not seen since March 2022 is attributed to sanctions imposed by the US on Gazprombank.
Credit Risk
BCBS Finalises Technical Amendments to Basel Framework
By Editors | 29/11/2024
The amendments concern the standardised approach to credit risk and the capital charge for Group 2a cryptoassets. An amendment to the CCR framework is also proposed.
PEPs & Sanctions
New Zealand Targets Russian, Iranian Actors With New Sanctions
By Editors | 29/11/2024
The sanctions target those involved in the deployment of chemical weapons against Ukraine and the provision of Iranian weapons to Russia.
Reporting & Disclosures
EU to Simplify ESG Rules Amid Criticism of Over-Regulation
By Nithya Subramanian | 29/11/2024
The European Commission plans to reduce compliance burdens on businesses by streamlining existing ESG frameworks.
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