IOSCO completed its taskforce work on the supervision and regulation of commodity derivatives markets. The G20 had asked IOSCO to work on the regulation and supervision of commodity derivatives markets back in 2010, stressing the need “for enhanced transparency in both cash and derivatives markets as previously recommended by IOSCO”. In April 2011, the G20 [...]
The European Commission consultation is open to comment until 4th February 2022. The focus of this consultation is on: 1) the impact of the EU framework on the quality and reliability of corporate reporting, including the 3 pillars of corporate governance, audit and supervision. 2) Corporate Governance in the context of reporting 3) Audit effectiveness, [...]
Banque de France (BdF), MAS and JP Morgan ONYX worked together on the design of multi-currency corridors using CBDCs, DLT and Smart Contracts technology. They propose an architecture to facilitate PvP ("payment versus payment") for FX transactions, in an inter-operable clouds infrastructure (public + private) working as a network. The solution design offers a common [...]
Fitch is publishing a comprehensive analysis of ESG issues (not just Climate Change), the relevance of indicators to the ratings methodology applied by Fitch and the linkages between risks and products / activity sectors. Volume 1 focuses on: a) GHG and Air Quality Issues b) Energy c) Water d) Biodiversity and Waste e) Environmental Impact [...]
We had an EU Taxonomy, a China Taxonomy, a Common Ground Taxonomy between the 2 being worked out, a UK Taxonomy in the making, many other Taxonomies around the world... now we have a common Asean (10 States in South East Asia) Taxonomy for Sustainable Finance. It is clearly stated that this is only Level [...]
The Bank of England (BoE) has today published a Consultation Paper and draft Statement of Policy on the Bank’s approach to ‘tiering’ non-UK central counterparties (CCPs) based on the level of systemic risk they could pose to UK financial stability. Currently non-UK CCPs can provide services in the UK under a temporary recognition regime. In [...]
Banque de France (BdF) published a first report focusing on the integration of a CBDC into innovative procedures for the exchange and settlement of financial assets, based on new technologies such as Distributed Ledger Technologies (DLT), and in a multi-currency and cross-border setting. The report covers nine experiments, selected from close to 40 proposals, which [...]
The Centre for Economic Policy Research publishes a compendium of articles on Climate Change covering such items as economics, growth, GHG emissions targets, carbon pricing, carbon taxes, green finance, the central banks impacts, the political aspects and North / South divide facing the climate risks. Access to CEPR on the VOX EU website: https://voxeu.org/content/combatting-climate-change-cepr-collection [...]
Only 2 days after the IFRS Foundation made key announcements about its ISSB initiative (cf our post dated 3rd November), the EU confirms the composition of the experts working group charged with drafting the EU Sustainability Reporting Standards. One major will be: how tightly will EFRAG and ISSB work on those issues? In particular, will [...]
The IPSF is, essentially, a collaboration between the EU and China to create a common Taxonomy, starting from the EU version perhaps but with a very strong lead by China. It will be very interesting to see the evolution of that initiative and how it may collide with the EU internal debates on whether, for [...]
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