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Emerging Prudential Risks
FSB Updates G20 on Covid-19, Climate, Crypto Work
By Editors | 13/07/2022
Accompanying the letter to the G20 is a report on exit strategies to address COVID-19 scarring in the financial sector, and a statement on crypto-asset regulation.
Anti-Money Laundering
GCFFC Offers Recommendations on Improving AML Effectiveness
By Manesh Samtani | 12/07/2022
PPPs could benefit from the FATF providing a clearer endorsement of their benefits within the global framework, the paper says.
CBDCs
New Report Offers Guidance to Central Banks on CBDC Design
By Editors | 12/07/2022
A report from CPMI, BISIH, IMF and World Bank assesses the options for access to and interoperability of CBDCs, to ensure they improve cross-border payments.
Fraud, Scams & Cybercrime
Crypto Firm Celsius Network Accused of Running Ponzi Scheme
By Editors | 12/07/2022
A lawsuit filed by a former Celsius money manager says the company mismanaged customer funds, failed to perform basic internal auditing, and manipulated crypto-assets.
Payments & Settlements
CPMI Offers Global Framework for Interlinking Payment Systems
By Editors | 12/07/2022
The growing use of APIs and the adoption of ISO 20022 have opened up new possibilities for facilitating payment system interlinking, CPMI says.
Operational Risk
IOSCO Issues Op Resilience Guidance for Markets, Intermediaries
By Editors | 12/07/2022
IOSCO has set out observations and lessons learned from the pandemic response to help inform future operational resilience arrangements.
Cryptocurrency
FSB Issues Statement on Crypto Assets Ahead of G20 Meeting
By Editors | 11/07/2022
The statement clarifies that so-called stablecoins and other crypto-assets “do not operate in a regulation-free space”.
Payments & Settlements
FSB Urges Adoption of LEI in Cross-border Payments
By Editors | 10/07/2022
Using the LEI in cross-border payments could facilitate straight-through processing, reduce costs, increase transaction speeds, and facilitate KYC compliance.
ESG Data
NGFS Issues Final Report on Bridging Climate-related Data Gaps
By Sanday Chongo Kabange | 08/07/2022
The largest gaps are for biophysical impact, emissions and geospatial data types, which affect use cases such as investment and lending decisions and exposure quantification.
Cryptocurrency
Crypto Firm Voyager Digital Files for Bankruptcy, FDIC Opens Probes
By Editors | 08/07/2022
Voyager previously used wording on a company web page implying that deposit protection could apply in the event of the company’s own failure.
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