News Centre

Mind the (Data) Gaps, SEC Commissioner Caroline A. Crenshaw, Washington D.C., May 14, 2021, Keynote Address At The 8th Annual Conference On Financial Market Regulation (CFMR)

Date 14/05/2021

Good afternoon. It’s great to be here at the annual Conference on Financial Market Regulation. I’ve enjoyed the discussions so far, and I am looking forward to hearing more. And I want to welcome Jessica Wachter, our new Chief Economist, to the SEC. I am very pleased that you are joining us, and I am looking forward to working with you.

IMF Executive Board Approves Temporary Streamlining Of Procedures For Post Program Monitoring During The Pandemic And Renaming Of The Policy To Post Financing Assessment

Date 14/05/2021

On May 7, 2021, the Executive Board of the International Monetary Fund (IMF) approved temporary modifications to the modalities for its Post Program Monitoring (PPM) until end-2022. The increase in IMF lending, including in the aftermath of the COVID-19 pandemic, has led to an unprecedented amount of credit outstanding, underscoring the need for appropriate safeguards to the IMF’s balance sheet. PPM is one such safeguard, providing a framework for deeper and closer engagement with members that have substantial outstanding IMF credit but are not in a program relationship. However, the ongoing pandemic is straining the capacity as well as resources for members and the Fund, given the need to focus efforts on immediate crisis-related work.

Federal Reserve Board Announces The Third Extension Of A Rule To Bolster The Effectiveness Of The Small Business Administration's Paycheck Protection Program (PPP)

Date 14/05/2021

The Federal Reserve Board on Friday announced the third extension of a rule to bolster the effectiveness of the Small Business Administration's (SBA) Paycheck Protection Program (PPP). Like the earlier extensions, this one will temporarily modify the Board's rules so that certain bank directors and shareholders can apply to their banks for PPP loans for their small businesses.

Moscow Exchange: Risk Parameters On Securities Market

Date 14/05/2021

CCP NCC sets the following risk parameters on Securities market starting from May 17, 2021:

PrivatBank Bail-In: Bank Of England Recognises Bail-In By National Bank Of Ukraine

Date 14/05/2021

The Bank of England has received a request for recognition from the National Bank of Ukraine (NBU) to recognise the bail-in of four loans made by “UK SPV Credit Finance plc” (UK SPV) to PrivatBank.

Federal Court Orders Virginia Resident To Pay More Than $5 Million For Futures And Options Fraud

Date 14/05/2021

The Commodity Futures Trading Commission announced today that Judge John A. Gibney, Jr., of the U.S. District Court for the Eastern District of Virginia entered a Consent Order for Permanent Injunction, Restitution and Ancillary Equitable Relief against defendant Leonard J. Cipolla finding, among other things, that Cipolla fraudulently solicited individuals to place funds in a commodity pool to trade futures and options while misappropriating more than $5 million of the money he was given to trade. The order requires that Cipolla pay restitution of $5,102,283.51 and imposes permanent trading and registration bans.

BIS: CCP Auction Design

Date 14/05/2021

Summary

Focus

When a clearing member defaults, the central counterparty (CCP) organises an auction to sell the member's portfolio to surviving members. The higher the price of the auctioned portfolio, the lower the default loss, and thus the smaller the extent to which the CCP taps into the so-called guarantee fund, which is prefunded by members. To safeguard its resilience and reputation, the CCP seeks to encourage active bidding and minimise the default loss. We propose a tractable model to examine the design of CCP auctions.

Moscow Exchange: Risk Parameters Change For The Securities

Date 14/05/2021

The following risk parameters will be changed:

Hex Trust Partners With Chainalysis To Provide A Compliance-Focused Custody Solution For Financial Institutions

Date 14/05/2021

Hex Trust, the leading digital asset custodian for the banking sector, today announced its partnership with Chainalysis, the blockchain analysis company. Hex Trust will adopt Chainalysis KYT (Know Your Transaction), the compliance solution, for real-time transaction monitoring, and Chainalysis Reactor, the investigative tool, for enhanced due diligence. This collaboration will enable Hex Trust to add an additional layer to its already robust compliance features for its proprietary platform, Hex Safe™, providing financial institutions peace of mind for their digital asset transactions.

Moscow Exchange: REPO Risk Parameters Change For The Security MOEX - Update 4

Date 14/05/2021

As per the Securities market risk parameters methodology, on 14.05.2021, 15-56 (MSK) the lower bound of the REPO rate for tenor Y0/Y1Dt (up to -185.36 %), penalty rate and IR Risk Rate (up to -2.994 rub) for the security MOEX were changed. New values are available here