Project Jura explores the direct transfer of Euro and Swiss franc wholesale central bank digital currencies (wCBDCs) between French and Swiss commercial banks on a single DLT platform operated by a third party. Tokenised asset and foreign exchange trades are settled safely and efficiently using payment versus payment (PvP) and delivery versus payment (DvP) mechanisms. [...]
The Risk Coalition brings a useful Guidance to plug a gap in Board Governance: prior to the publication of Raising the Bar, there had been no comprehensive principles-based guidance for risk committees and risk functions. The guidance emphasises the importance and seniority of a Chief Risk Officer (CRO) or equivalent, as well as their independence. [...]
This FSB report commemorates the tenth anniversary of the FSB Key Attributes of Effective Resolution Regimes for Financial Institutions (“Key Attributes”), whose main aim was to address the potential issue of "Too Big To Fail" institutions. According to the FSB, the 3 main axis for further progress are: Banks – Important work remains to improve [...]
OMFIF publishes its second edition of Global Public Pensions, which provides insights into the portfolio allocations of a curated group of 100 leading global public-sector asset owners. That group of investors appear to have had a "pretty good" COVID crisis, with total assets of the 100 funds growing by around 10%, to $14.4tn, as equity [...]
The EBA discloses detailed bank-by-bank data for the reference dates of 30 September 2020, 31 December 2020, 31 March 2021 and 30 June 2021. Information collected via the EBA EUCLID platform is published at the highest level of consolidation for 120 banks across 25 countries of the European Union (EU) and the European Economic Area [...]
The FSB issues its annual Report on the implementation of the OTC Derivatives Market Reform which was decided following the 2008/09 financial crisis. Nothing major has come out in the last 12 or 15 months, partly as a result of COVId-19. The FSB report can be found here: https://www.fsb.org/2021/12/otc-derivatives-market-reforms-implementation-progress-in-2021/
The UK Climate Change Committee is an independent, statutory body which "purpose is to advise the UK and devolved governments on emissions targets and to report to Parliament on progress made in reducing greenhouse gas emissions and preparing for and adapting to the impacts of climate change". The report may draw a slightly optimistic set [...]
HKEX takes an important step to help listed issuers with their existing and forthcoming requirements to ensure disclosure of ESG information to investors. The Net-Zero Guide introduces the essential steps for businesses to develop a pathway to net zero, aiming to help companies to understand their greenhouse gas (GHG) emissions in terms of where they [...]
The FCA issues a Policy Statement to implement the prudential regime applicable to Investment Firms (the IFPR). The regime will apply to many UK registered firms: any MiFID investment firm authorised and regulated by the FCA that is currently subject to any part of the Capital Requirements Directive (CRD) and the Capital Requirements Regulation (CRR) [...]
Following the submission of draft RTS for the SFDR (Sustainable Finance Disclosure Regulation) by EBA, EIOPA and ESMA (jointly), the European Commission had 3 months to approve and adopt the text. But the complexity and length of the RTS mean that the EC won't be able to respect the deadline. Additionally, the EC wants to [...]
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