News Centre

Brief Remarks, Federal Reserve Vice Chair For Supervision Michael S. Barr, At The National Community Reinvestment Coalition Just Economy Conference, Washington, D.C. (Via Prerecorded Video)

Date 29/03/2023

Good morning. Thank you to the National Community Reinvestment Coalition (NCRC) for the invitation to speak with you today. I regret that I cannot be there in person, but I can imagine the energy and excitement in a room full of so many dedicated community development professionals. I appreciate all the work that NCRC members and partner organizations do to advance economic opportunities for people and communities throughout the country, and the role you play in helping to inform public policy. For these brief remarks, I was asked to share my thoughts on the Community Reinvestment Act (CRA), a topic of great interest to all of you and to me as well.

iDenfy’s New Partnership With Fincapital Partners: Increased Security Through KYC/AML Tools - Fincapital Partners Will Use iDenfy’s ID Verification, AML Screening, And Address Verification Tools

Date 29/03/2023

iDenfy, a Lithuania-based RegTech offering ID verification and fraud prevention tools, announced joining forces with Fincapital Partners, a fintech offering a suite of tools from trading and crypto exchanges to banking services. From now on, iDenfy will provide a smooth onboarding process for the financial business while ensuring KYC/AML compliance.

Reforming Our Capital Markets Ecosystem - Speech By Nikhil Rathi, UK Financial Conduct Authority Chief Executive Delivered At The Global Investment Management Summit

Date 29/03/2023

Highlights

• The FCA set out proposals to reform the UK framework for asset management to ensure its proportionality, continued alignment to high global standards and to better support innovation.
• Proposed ESG labelling regime for investment products will build trust in the growing sustainable investment category. 
• While recognising that regulation is only one element to encouraging firms to list in the UK, the FCA will always play a full part and is open-minded about reform.

PolySign Appoints Tech Industry Veteran Chuck Ocheret As Chief Technology Officer

Date 29/03/2023

PolySign, a leading provider of blockchain-enabled digital asset infrastructure for institutional investors, today announced the appointment of Charles (“Chuck”) Ocheret as its new Chief Technology Officer to oversee the next stage of its growth and technology development. 

ESMA Issues Its 2022 Corporate Reporting Enforcement And Regulatory Activities Report

Date 29/03/2023

The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has today published its 2022 Corporate Reporting Enforcement and Regulatory Activities Report, providing an overview of activities carried out by ESMA and enforcers on financial and non-financial information and European Single Electronic Format (ESEF) reporting.

BIS: Supervisory Policy Stimulus: Evidence From The Euro Area Dividend Recommendation

Date 29/03/2023

Summary

Focus 

In March 2020, the European Central Bank made the recommendation that, at least until October 2020, no "significant institution" should pay out dividends. We investigate the recommendation's impact on the credit supply to non-financial corporations amid the Covid-19 economic shock. Bank managements effectively faced a choice of how to allocate their capital when deciding whether to follow the ECB recommendation, with differing implications for the credit supply. On the one hand, given constant demand and price effects, they might have opted to use the surplus capital to increase lending supply, thus responding countercyclically to support the economy. On the other hand, they might have decided to increase their resilience to future shocks by saving capital, and/or strengthening their loss-absorption capacity by making additional provisions. The paper asks whether the ECB's dividend recommendation led to an increase or a decrease in the credit supply to non-financial corporations, and whether this effect varied for different types of firm and sector.

UK Financial Conduct Authority Publishes Letter On Morses Club Scheme Of Arrangement

Date 29/03/2023

On 3 March 2023, the FCA issued a letter of concerns in relation to Morses Club's proposed Scheme of Arrangement, ahead of the firm attending Court on 7 March to seek views of the court before proceeding to the next stage of the process. The firm said they would consider the concerns and whether improvements can be made. 

Monetary Authority Of Singapore Statement On Disruption Of DBS' Digital Banking Services

Date 29/03/2023

DBS notified MAS early this morning that its customers were experiencing difficulties logging in to its digital banking services. MAS has been in close contact with DBS to ensure expedited recovery of its digital services and timely communications to customers on the disruption. We note the bank has since resumed normal digital banking services and is monitoring the situation.

Dubai Financial Market Introduces Omnibus Accounts To Enhance Market Access

Date 29/03/2023

• The availability of Omnibus Accounts responds to the international requirements on market accessibility and market quality
• Dubai CSD issues the Omnibus Accounts rules and launches a registration process for eligible investors

"Private Credit - The Next Key Driver Of Growth In Private Markets" - Speech By Mr Lim Cheng Khai, Executive Director, Financial Markets Development Department, Monetary Authority Of Singapore, At The Private Debt Investor’s APAC Forum On 29 March 2023

Date 29/03/2023

Distinguished guests, ladies and gentlemen, 

Thank you for having me with you at this Private Debt Investor’s APAC Forum. We convene today at an unusual and uncertain time.