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  • US Federal Agencies Issue Exemption Order To Customer Identification Program Requirements

    Date 27/06/2025

    The Federal Deposit Insurance Corporation, the Office of Comptroller of the Currency, and the National Credit Union Administration (collectively, “agencies”), with the concurrence of the Financial Crimes Enforcement Network, today issued an order granting an exemption from a requirement of the Customer Identification Program (CIP) Rule implementing Section 326 of the USA PATRIOT Act. The CIP Rule requires a bank or credit union to obtain taxpayer identification number (TIN) information from its customer before opening an account, and the exemption permits a bank or credit union to use an alternative collection method to obtain TIN information from a third-party rather than from the customer.

  • US Federal Bank Regulatory Agencies Request Comment On Proposal To Modify Certain Regulatory Capital Standards

    Date 27/06/2025

    The federal bank regulatory agencies today requested comment on a proposal to modify certain regulatory capital standards to reduce disincentives for banking organizations to engage in lower-risk activities and promote the smooth functioning of U.S. Treasury markets.

  • European Commission Approves Finansinspektionen’s Extension Of The Risk-Weight Floors

    Date 27/06/2025

    The European Commission has announced that it does not object to FI's intention to extend the current risk weight floors for Swedish mortgages and commercial real estate. This means that FI may implement the measures.

  • The Quest For Cheaper And Faster Cross-Border Payments: Regional And Global Solutions - Speech By Piero Cipollone, Member Of The Executive Board Of The ECB, At The BIS Annual General Meeting, Basel, 27 June 2025

    Date 27/06/2025

    Cross-border retail payments are the subject of increasing attention. This is for two main reasons.

    First, they play a growing role in the world economy, as international transaction volumes have been increasing at a faster pace than GDP growth. However, despite some improvements in recent years, many payment corridors remain poorly served, which results in slow transaction times and high costs and ultimately hinders economic growth and social cohesion. Moreover, this inefficiency undermines the benefits of globalisation, as the economic gains from lower trade barriers are diverted into rents within cross-border payment markets, rather than benefiting the businesses and households that make use of them.

  • ESMA: New Q&As Available

    Date 27/06/2025

    The European Securities and Markets Authority (ESMA), the EU's securities markets regulator, has published or updated the following Questions and Answers: