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Climate Risk
G20 Endorses Use of Carbon Pricing Mechanisms, Incentives
By Manesh Samtani | 12/07/2021
The use of carbon pricing mechanisms and incentives was included in the G20 communique among the set of tools to facilitate the transition to a more sustainable economy.
Climate Risk
FSB Urges Greater Coordination on Climate-related Risks
By Manesh Samtani | 07/07/2021
The interconnected nature of climate-related financial risks and the growing body of work to address them reinforce the need for coordinated action, the FSB says.
Trading & Investment
FSB Calls on Supervisors to Align LIBOR Messaging
By Manesh Samtani | 07/07/2021
Engagement with FIs regarding LIBOR transition planning has not yet started or had only just started in six FSB jurisdictions.
Emerging Prudential Risks
FSB Offers Policy Options to Enhance MMF Resilience
By Manesh Samtani | 01/07/2021
Requirements for MMFs could include capital buffers, higher liquidity requirements, or the removal of the stable NAV, among other options.
Reporting & Disclosures
UK, Singapore Commit to Deepening Regulatory Cooperation
By Editors | 01/07/2021
Officials agree to explore cross-border financial regulation, carbon market trading linkages, and collaboration opportunities via their BIS Innovation Hub centres.
Credit Risk
FSB Launches Review of Corporate Debt Workouts
By Editors | 29/06/2021
Feedback is invited from financial institutions, corporates, insolvency practitioners and other stakeholders in relation to out of court debt workouts.
Resolution & Recovery
Hong Kong: ‘Stay Rules’ to Come into Operation on 27 August
By Manesh Samtani | 27/06/2021
Banks have to adopt provisions in financial contracts binding counterparties to temporary stays on termination rights that may be imposed by the HKMA during a bank resolution.
Resolution & Recovery
Korean Cabinet Approves Rules on SIFI Resolution Plans
By Editors | 23/06/2021
SIFIs will be required to prepare recovery and resolution plans and submit them to the FSS within three months from being designated.
Trading & Investment
CFTC Subcommittee Proposes Switch to SOFR for Interdealer Swaps
By Manesh Samtani | 09/06/2021
The ARRC said the change, proposed for 26 July, will allow it to formally recommend forward-looking SOFR term rates published by CME Group.
CBDCs
G7 Leaders Pledge to Develop Common Principles for CBDCs
By Sanday Chongo Kabange | 07/06/2021
CBDCs should operate within appropriate privacy frameworks and minimise spillovers, the G7 Finance Ministers said in a communique.
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