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Market Infrastructure
FSB Calls for Urgent Action Complete LIBOR Transition Steps
By Manesh Samtani | 23/11/2021
The FSB says transition should be “primarily to overnight RFRs” and that it is closely watching market developments regarding credit-sensitive rates.
Crypto / Digital Assets
FSB Plenary Agrees Work Programme for 2022
By Manesh Samtani | 18/11/2021
The programme includes work around the response to Covid-19, NBFI resilience, crypto/stablecoin/DeFi risks, climate risk, and the post-2008 crisis reforms.
Capital / Liquidity
HKMA Finalises Guidance on Implementing OCIR Arrangements
By Sanday Chongo Kabange | 08/11/2021
In a new chapter of its code of practice, the HKMA sets out its expectations on the arrangements banks must have in place to maintain operational continuity in resolution.
ESG / Sustainability
Bank Compensation Practices More Advanced Than Other FIs: FSB
By Editors | 05/11/2021
The use of balanced scorecards based on KPIs in determining compensation is “critical” to promoting a sound risk culture in a firm, the FSB says.
Market Infrastructure
DSB Seeks Feedback on Legal Framework for UPI Service
By Editors | 04/11/2021
The Derivatives Service Bureau proposes to use a single overarching legal agreement for users subscribing to OTC ISIN and UPI Services.
Capital / Liquidity
PBOC, CBIRC Establish Final TLAC Rules for Chinese G-SIBs
By Editors | 02/11/2021
China’s G-SIBs must have total loss-absorbing capacity amounting to at least 16% of RWA and a leverage ratio of 6% by 1 January 2025.
Big Picture
FSB Reports Progress to G20 on Financial System Resilience
By Editors | 02/11/2021
The FSB emphasises a need to ensure that regulatory frameworks allow for the financial sector to harness the benefits of innovation while containing the related risks.
Big Picture
FSB Annual Report Warns of Continued Financial Stability Risk
By Manesh Samtani | 28/10/2021
Sudden sharp movements in asset prices could spill over across the financial system and the unwinding of policy support could prompt insolvencies and credit losses.
Capital / Liquidity
International Standard Setters Launch Review into Margin Practices
By Editors | 26/10/2021
While centrally cleared and non-centrally cleared markets faced similar levels of volatility in March and April 2020, IM requirements increased significantly only for centrally cleared derivatives.
Capital / Liquidity
Too Soon to Base Capital Requirements on Climate Scenarios
By ESG Investor | 21/10/2021
NGFS members do not yet envisage calibrating prudential policies such as capital requirements on the basis of climate scenario exercises.
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