News Centre

Federal Reserve Board Adopts Final Rule That Implements Adjustable Interest Rate (LIBOR) Act By Identifying Benchmark Rates Based On SOFR (Secured Overnight Financing Rate) That Will Replace LIBOR In Certain Financial Contracts After June 30, 2023

Date 16/12/2022

The Federal Reserve Board on Friday adopted a final rule that implements the Adjustable Interest Rate (LIBOR) Act by identifying benchmark rates based on SOFR (Secured Overnight Financing Rate) that will replace LIBOR in certain financial contracts after June 30, 2023. The final rule is substantially similar to the proposal with certain clarifying changes made in response to comments.

EBA Publishes Its Closure Report Of Covid-19 Measures And Repeals Its Guidelines On Covid-19 Reporting And Disclosure

Date 16/12/2022

The European Banking Authority (EBA) today published its closure report of Covid-19 measures, which provides an overview of the wide range of policy measures taken on the back of the pandemic, their state of play and the path out of policy support.  Although the EU banking system proved overall resilient, the ample support provided does not give room to complacency, and the framework is to be further strengthened with a loyal and prompt implementation of Basel III. The publication is accompanied by an update to the list of public guarantee schemes (PGS) and general payment moratoria schemes issued in response to the pandemic. Finally, the EBA Guidelines on Covid-19 reporting and disclosure have been repealed in response to the decreasing relevance of the related public support measures, and the overall EBA proportionate approach to reporting.

ESMA Appoints New Chairs Of Standing Committees

Date 16/12/2022

The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has changed the structure of its standing committees and elected new Chairs.  The election took place at the Board of Supervisors meeting in Paris on 14 December.

CryptoCompare Year In Review: 2022 - Key Industry Events, 2023 Outlook & More

Date 16/12/2022

2022 was an unprecedented year for digital assets, with major headwinds and severe idiosyncratic events dictating the narratives of the industry, including the collapse of Terra Luna, FTX and more.

BIS: Regulating Big Tech

Date 16/12/2022

Summary

Focus 

Digital platforms and, in particular, social media platforms enjoy significant market power, which can be used in both the economic and the political arenas. Without regulatory restrictions, these platforms serve global markets and so issues of market power quickly become geopolitical issues. Thus, it is very difficult to address the issues arising from market power by regulating solely at the national level.

Bank Of England: Asset Purchase Facility: Gilt Sales – Market Notice 16 December 2022

Date 16/12/2022

This Market Notice sets out the schedule for sales in Q1 2023 of gilts held in the Asset Purchase Facility for monetary policy purposes.

e-Novia S.p.A. Lists On Euronext Growth Milan Professional Segment

Date 16/12/2022

• 22nd  listing of 2022 on Euronext Growth Milan – 6th on the Professional Segment

• e-Novia S.p.A., a TechShare alumnus,  brings the total number of companies listed on Euronext Growth Milan to 186

• 79th listing on Euronext in 2022

• Total placement volume of the offering equal to €14.65 million by private placement prior to admission

FSB Encourages Final Transition To Robust Reference Rates As Cessation Of Remaining LIBOR Panels Approaches

Date 16/12/2022

The Financial Stability Board (FSB) today published a progress report on the transition from LIBOR and other benchmarks.

Borsa Istanbul: Announcement About The Changes In The TLREF Methodology

Date 16/12/2022

Please click for the relevant Announcement.

NGX Charges Newly Inducted Brokers To Uphold Ethics, Embrace Continuous Learning

Date 16/12/2022

Nigerian Exchange Limited (“NGX” or “The Exchange”) has encouraged its newly inducted brokers to continue to uphold the high standard of ethics in the capital market and embrace a culture of continuous learning to keep up with the fast pace of developments and innovation in the financial space.