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Cybersecurity
Lloyd’s Simulates $3.5tr Cyber Attack on Financial System
By Mark Johnston | 19/10/2023
Lloyd’s published a scenario that simulates a cyber attack that would cause $3.5tr in global economic losses over five years.

PEPs & Sanctions
US & Allies Reimpose Iran Sanctions Following UNSCR Expiry
By Manesh Samtani | 19/10/2023
A 2015 UN Security Council resolution targeting Iran’s ballistic missile, nuclear, and drone programmes has expired.

Payments & Settlements
CPMI Seeks Feedback on Governance of FPS Interlinking Arrangements
By Editors | 18/10/2023
The interlinking of fast payment systems is “one of the most promising solutions” for enhancing cross-border payments, CPMI says.

Reporting & Disclosures
ESG Reporting’s Evolution and Convergence
By Ranamita Chakraborty | 18/10/2023
ERM’s Matt Klein and Andrew Radcliff discuss the convergence of sustainability regulations and the equally important social component of ESG.

Payments & Settlements
CPMI Publishes Harmonised Data Requirements for ISO 20022
By Mark Johnston | 18/10/2023
The BOE, ECB and RBA have committed to aligning with the new requirements and call on other market infrastructures and payment service providers to do the same.

Market Data & Technology
DSB Launches UPI Service, a Milestone for Derivatives Markets
By Manesh Samtani | 18/10/2023
The US, EU, UK, Australia and Singapore will all start requiring UPI reporting for OTC derivatives transactions in 2024.

Cryptocurrency
BCBS Consults on Bank Disclosure Requirements for Crypto Exposures
By Editors | 17/10/2023
Major banks would have to disclose information on their crypto activities, crypto exposures, and related accounting classifications and capital and liquidity requirements.

Data Privacy
LEI Now Being Used in Digital Email Certificates
By Editors | 17/10/2023
GLEIF and Shanghai-based TrustAsia collaborated to issue the first S/MIME Certificate with an embedded LEI.

Payments & Settlements
Mitigating Settlement Risk in a Fragmented World
By Marc Bayle de Jessé | 17/10/2023
Marc Bayle de Jessé discusses work underway to address settlement risks in FX transactions and what more needs to be done.

Emerging Prudential Risks
IMF Warns of Global Banking Vulnerabilities from High Inflation
By Mark Johnston | 17/10/2023
The IMF calls for better stress testing practices, higher international standards, and lending facilities to enhance bank resilience.
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