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High-Level Working Group Calls On ECB Governing Council To Turn Around Monetary Policy - Stoiber And Steinbrück: "European Central Bank Must Now Signal An End To Ultra-Loose Monetary Policy" / Government Bond Purchases Must Be Promptly Scaled Back/ The German Bundestag Is Now Also Being Called Upon / Current Monetary Policy Is Socially Detrimental

Date 15/12/2021

On the occasion of the meeting of the ECB Governing Council on 16 December 2021, a high-level working group headed by former prime ministers and candidates for chancellor Peer Steinbrück and Edmund Stoiber is calling on the European Cen-tral Bank to do more to reduce the increasing inflation rate. Stoiber and Steinbrück: "The ECB is neglecting its fundamental task of maintaining price stability by not ad-justing its ultra-loose monetary policy despite rising inflation rates. Contrary to the ECB's assumption that the trend is temporary, there is a high risk that inflation ex-pectations will become entrenched, thus driving inflation further." The resignation of the leading voice for stability in the ECB Governing Council, Bundesbank President Weidmann, should serve as a warning, they said. "We expect the ECB Governing Council to send a clear signal for a turnaround in monetary policy at its meeting and as a first step to substantially reduce bond purchases." Stoiber and Steinbrück call on the German Bundestag to critically monitor the ECB's activities. It is open to question, they said, whether the ECB is still acting within the scope of its monetary-policy authority or is already actively conducting economic and fiscal policy. However, assuming such a guiding function would not be in line with its mandate and would not be democratically legitimized.

3forge Simplifies Unified Data Access Across The Trading Ecosystem

Date 15/12/2021

• Web Balancer and Web Manager tools seamlessly combine complex data streams and systems into a single process
• Brings unrivalled performance, speed and scale to award-winning AMI platform
• Manages access for thousands of users on a global 24/6 basis

Appital Commences Onboarding Processes With Top Asset Managers Ahead Of Launch

Date 15/12/2021

Appital, the Equity Capital Marketplace, is taking concrete steps in preparation for their platform launch, which will bring technological innovation and automation to equity capital markets and improve liquidity discovery and price formation processes of illiquid equity positions. The Appital platform allows buyside firms to gain greater exposure to deal flow opportunities they have not been able to access before, helping portfolio managers and heads of trading build a comprehensive picture of liquidity, including highly illiquid, small and mid-cap stocks. 

SEBA Bank Launches Landmark First Regulated Gold Token To Enable Digital Ownership Of Physical Gold

Date 15/12/2021

• Gold Token offers investors a regulated digital token for investment in and delivery of physical gold
• Physical gold ready for any time on-demand delivery from partner refineries, avoiding costly fees
• The SEBA Bank Gold Token acts as a regulated stablecoin, providing secure transaction settlement and trading in crypto markets

Temenos Expands Collaboration With Microsoft To Meet Growing Demand For The Temenos Banking Cloud - Temenos Working With Microsoft On SaaS And Green Cloud Initiatives In Financial Services Built On Microsoft Azure

Date 15/12/2021

Temenos (SIX: TEMN), the banking software company, announces it is expanding its strategic relationship with Microsoft to meet the growing demand from banks for SaaS and banking services delivered by The Temenos’ Banking Cloud.

Trading Platform cp-r.net: BaFin Investigates Capital Professionals Reserve

Date 15/12/2021

In accordance with section 37 (4) of the German Banking Act (Kreditwesengesetz – KWG), BaFin would like to make clear that Capital Professionals Reserve, Saint Vincent and the Grenadines, has not been granted authorisation under the KWG to conduct banking business or provide financial services. The company is not supervised by BaFin.

EGX: The Establishment Of Companies’ Service Unit In GAFI

Date 15/12/2021

Counselor Mohamed Abdel Wahab, CEO of the General Authority for Investment and Free Zones (GAFI), issued a decision to establish “The Companies’ Service Unit” for listed companies on EGX under the supervision of the Head of Investment services at GAFI.  This decision is part of the package of measures issued by Egyptian prime minister in November 2021 to support the Egyptian Capital Market and improve its ecosystem.  These decisions aim to support the capabilities and competitiveness of the Egyptian Exchange, and help it develop and support Egypt’s economic and social development plans.

Japan Financial Services Agency: Administrative Actions Against Mizuho Bank, Ltd. And Mizuho Financial Group, Inc.

Date 15/12/2021

The Financial Services Agency issued business improvement orders as follows to Mizuho Bank, Ltd. (the "Bank"; 6010001008845) and Mizuho Financial Group, Inc. (the "Company"; 9010001081419) today.
   

Press Conference By SUZUKI Shunichi, Japan Minister Of Finance And Minister Of State For Financial Services - Mizuho Bank And Mizuho Financial Group

Date 15/12/2021

[Opening remarks:]

I explain the administrative actions against Mizuho Bank and Mizuho Financial Group. Mizuho Bank caused a total of eight system failures from February to September this year and exerted a significant impact on its individual and corporate customers. 

SET, Walk Free And FAST Provide Thai Businesses With Tools To Manage Modern Slavery Risks

Date 15/12/2021

The Stock Exchange of Thailand (SET) has partnered with Walk Free and Finance Against Slavery and Trafficking (FAST), two international organizations with business and human rights expertise, to produce a set of tools to manage human rights risks, specifically modern slavery and labor exploitation. The toolkit, which consists of the “Guidance on Modern Slavery Risks for Thai Businesses” and the online “Modern Slavery Benchmarking Tool”, will help Thai listed companies, business operators and interested members of the public to manage human rights risks across a range of business and industry sectors. Detecting, preventing and remediating human rights abuses in value chains is essential for modern businesses to win the trust of all stakeholders and build further confidence in the Thai business sector globally.