International

Anti-Money Laundering

What FATF Recommendation 16 Means for the Crypto Industry

By Michael Ou | 22/01/2020

Implementing strict KYC processes to comply with the ‘travel rule’ may be costly, but it is a necessary sacrifice to build a stronger industry in the long-run, says Michael Ou at CoolBitX.

CBDCs

BIS, Six Central Banks to Jointly Explore CBDC Use Cases

By Editors | 22/01/2020

The group will assess CBDC use cases; economic, functional and technical design choices, including cross-border interoperability; and share knowledge on emerging technologies.

Climate Risk

BIS Calls on Central Banks to Coordinate Action on Climate Change

By Manesh Samtani | 21/01/2020

Without coordinated action, a new global financial crisis triggered by climate change would render central banks and financial supervisors powerless.

Market Data & Technology

IOSCO Issues Final Report Recommending UTC Time Stamping of Trades

By Editors | 20/01/2020

Trading venues and their participants should synchronise the clocks they use for timestamping reportable events with coordinated universal time (UTC), IOSCO says.

Emerging Prudential Risks

NBFI Posing Financial Stability Risk Grows at Slower Pace: FSB

By Editors | 20/01/2020

Non-bank financial intermediation posing bank-like financial stability risks grew by 1.7% in 2018, significantly slower than the 2012-2017 average annual growth rate of 8.5%.

Anti-Money Laundering

Fighting Modern Slavery: What the Banking Sector Can Do to Help

By Matt Friedman | 17/01/2020

Many banks are retooling to include modern slavery as one of the issues they track within their existing AML protocols, says Matt Friedman, CEO of The Mekong Club.

Structural Regulation

US Finalises Rules Expanding Foreign Investment Review Process

By Editors | 15/01/2020

Foreign investors will be subject to the CFIUS national security review process even for deals to take a non-controlling interest in certain US companies.

Cybersecurity

IMF Calls for Global Response to Address Cybersecurity Threat

By Editors | 15/01/2020

To reap the benefits of new technologies to develop markets and expand financial inclusion, the security of information and communications technologies must be ensured.

Emerging Prudential Risks

Vietnam Central Bank, Two Others Invited to Join BIS Membership

By Editors | 14/01/2020

The central banks of Vietnam, Kuwait and Morocco have been invited to become BIS members, the first expansion of its member base since 2011.