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MIAX Options Exchange - Additional System Enhancements Activation

Date 12/07/2022

In addition to the system enhancements previously announced in the July 7, 2022 Alert, the following enhancements will be available beginning July 13, 2022:

US Department Of Justice: Two Financial Asset Managers Charged In Alleged $1.2 Billion Venezuelan Money Laundering Scheme

Date 12/07/2022

Two financial asset managers have been charged with money laundering as part of a $1.2 billion international scheme to launder funds corruptly obtained from Venezuela’s state-owned and state-controlled energy company, Petróleos de Venezuela S.A. (PDVSA).

US Treasury Releases Request For Comment On Risks And Opportunities Presented By Digital Assets

Date 12/07/2022

The U.S. Department of the Treasury released a notice seeking public comment regarding potential opportunities and risks presented by developments and adoption of digital assets as part of its work under Section 5 of President Joe Biden’s digital assets Executive Order. Section 5 of Executive Order 14067, “Ensuring Responsible Development of Digital Assets,” directs Treasury, in consultation with the Secretary of Labor and other relevant agencies, to report to the President on the implications of development and adoption of digital assets and changes in financial market and payment infrastructures for United States consumers, investors, businesses.

Management Business Pressures Fuel Boom In Outsourced Trading Industry

Date 12/07/2022

Facing economic pressures and increasingly complex markets, growing numbers of investment managers in the U.S. are open to the idea of outsourcing some or even all of their trading functions. Amid this mounting demand, the number of providers offering outsourced trading services has increased more than fourfold in less than five years.

SIX Swiss Stock Exchange: Index Adjustments On The Occasion Of The Ordinary Index Review

Date 12/07/2022

SIX has decided to make changes to the index baskets on the basis of a recommendation from the Index Commission and in compliance with the SMI®, SLI®, SPI® and SXI® index rules. The indices will be adjusted on 16 September 2022 after closing. The adjustment takes effect on 19 September 2022.

BIS: Basel Committee Finds European Union Largely Compliant With Its Net Stable Funding Ratio And Large Exposures Framework Global Standards

Date 12/07/2022

• Basel Committee publishes assessment reports on the implementation of the Net Stable Funding Ratio and large exposures framework in the European Union.
• Assessments find European regulations largely compliant with the Basel Committee's global standards. 
• These publications form part of the Committee's Regulatory Consistency Assessment Programme.

Deutsche Börse Group: Business Indicators For June 2022

Date 12/07/2022

A summary of Deutsche Börse Group's business indicators for June 2022 is now available on the Deutsche Boerse website:

U.S. Office Of Financial Research: How Would Introducing A CBDC Affect The Stability Of The Banking System?

Date 12/07/2022

Today, the U.S. Office of Financial Research published a working paper, "Central Bank Digital Currency: Stability and Information." The working paper looks at how introducing a central bank digital currency (CBDC) would affect the banking system's stability.

BIS - Counting The Cost Of Payout: Constraints For Deposit Insurers In Funding Bank Failure Management

Date 12/07/2022

In the liquidation of a failed bank, the deposit insurer often pays out insured depositors. However, orderly bank failure management may benefit from the use of deposit insurance funds to help finance measures such as transfers of deposits and any viable business to another bank, as an alternative to payout. To protect the deposit insurance fund from excessive depletion, such financial support is usually subject to quantitative constraints, typically least cost requirements or caps on the amount that the deposit insurer can provide in a single case. In some frameworks, those constraints can be overridden in systemic cases. This paper analyses such quantitative constraints in a sample of 13 jurisdictions, and finds significant variations in their design, stringency and the availability of systemic exceptions. A key difference relates to jurisdictions' methodologies for calculating the cost of payout, which may predispose the framework towards certain outcomes in a choice between payout and alternative measures. On the basis of these observations, the paper offers conclusions that may help policymakers benchmark their approach to the use of deposit insurance funds in bank failure management.

US Treasury Calls For Large Position Reports

Date 12/07/2022

The U.S. Department of the Treasury is calling for Large Position Reports from those entities whose positions in the 1-1/2% Treasury Note of February 2024 equaled or exceeded $5.2 billion as of Thursday, March 24, 2022, or Friday, April 1, 2022.