United States

ESG / Sustainability

S&P Global Ratings Stops Providing ESG Credit Indicators

By Ranamita Chakraborty | 10/08/2023

With immediate effect, the impact of ESG factors on a borrower’s creditworthiness will now be conveyed through narrative paragraphs in the rating agency’s reports.

AML / KYC

US Issues Executive Order to Further Limit Investment in Chinese Tech

By Editors | 10/08/2023

The order targets investments in advanced computer chips, microelectronics, quantum information technologies, and artificial intelligence.

Crypto / Digital Assets

Fed Unveils New Supervision Programme for Banks Engaging With Crypto

By Manesh Samtani | 10/08/2023

The Fed requires banks to obtain a written notification of supervisory nonobjection before engaging in activities involving stablecoins.

Sanctions

US Treasury Clarifies Stance on Humanitarian Aid to Syria under Sanctions

By Editors | 09/08/2023

The guidance is the latest in a series of OFAC actions aimed at clarifying the US government’s stance on humanitarian trade.

Capital / Liquidity

US Majors Reveal Expected Costs for FDIC Special Assessment

By Editors | 09/08/2023

JPMorgan Chase, Bank of America, Wells Fargo and Citigroup expect to pay a combined $8.2bn to replenish the fund.

Securities / Derivatives

TSE Signs Agreement to Provide Japanese Investors Access to US Securities

By Editors | 09/08/2023

The MoU between the Tokyo Stock Exchange and Blue Ocean Technologies will enable Japanese investors to trade US stocks during their daytime hours.

Enforcement

SEC, CFTC Penalise Firms $555m for Use of Unapproved Messaging Apps

By Manesh Samtani | 09/08/2023

The use of “off-channel” communications was “pervasive and longstanding”. Wells Fargo was penalised $200mn, while BNP Paribas and SocGen were each fined $110mn.

Crypto / Digital Assets

PayPal Unveils Stablecoin Plans, Prompting Call for Clear Regulations

By Editors | 08/08/2023

PayPal plans to allow US customers to exchange PYUSD for other cryptocurrencies as well as use it to fund purchases, make transfers to external wallets, and send person-to-person payments.

Sanctions

OFAC Halts $26m in Funds Tied to Indian Diamond Traders

By Editors | 08/08/2023

OFAC reportedly suspects fund transfers were made to diamond suppliers with links to Russian miners and sanctioned bodies.