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Press Conference By ASO Taro, Deputy Prime Minister, Minister Of Finance, And Minister Of State For Financial Services - Mizuho Bank System Failure

Date 16/03/2021

(Excerpt)

(Tuesday, March 2, 2021, 8:39 am to 8:45 am)

[Questions and answers:]

Q.

Mizuho Bank suffered a system failure that left customers unable to remove cashcards or bankbooks from ATMs. What is your view on how the Financial Services Agency should address this matter going forward?

IMF Executive Board Approves US$50 Million Disbursement To Sierra Leone To Address The Continuing Impact Of The COVID 19 Pandemic

Date 15/03/2021

• The Sierra Leonean authorities’ quick and decisive actions mitigated the impact of the COVID-19 pandemic, helping prevent a larger loss of life and even deeper economic costs.
• However, the pandemic will have long-lasting economic and social effects, and shrinking incomes, rising poverty, inequality, and food insecurity remain concerns.
• To help meet the authorities’ urgent financing needs and support their continued response to the pandemic, the IMF has approved a US$50.37 million disbursement under the Rapid Credit Facility.

Tesla Names Elon Musk Technoking Of Tesla, Zach Kirkhorn Master Of Coin

Date 15/03/2021

Effective as of March 15, 2021, the titles of Elon Musk and Zach Kirkhorn have changed to Technoking of Tesla and Master of Coin, respectively. Elon and Zach will also maintain their respective positions as Chief Executive Officer and Chief Financial Officer.

Treasury International Capital Data For January

Date 15/03/2021

The U.S. Department of the Treasury today released Treasury International Capital (TIC) data for January 2021.  The next release, which will report on data for February 2021, is scheduled for April 15, 2021.

New Zealand Financial Markets Authority Board Announces Chief Executive Will Leave At End Of 2021

Date 15/03/2021

The Financial Markets Authority (FMA) Board today announced that Chief Executive Rob Everett had resigned and would leave the organisation towards the end of the year.

Readout: US Secretary Of The Treasury Janet L. Yellen’s Call With Indian Finance Minister Nirmala Sitharaman

Date 15/03/2021

Earlier today, Secretary of the Treasury Janet L. Yellen spoke with Indian Finance Minister Nirmala Sitharaman. Secretary Yellen emphasized India’s role as a critical partner in Asia and conveyed her intention to collaborate closely to support a strong global recovery from the COVID-19 pandemic, fight inequality, and advance a bold climate agenda. The Secretary looks forward to cooperating with Minister Sitharaman, both bilaterally and multilaterally, to address shared priorities.  

SEC Obtains Emergency Asset Freeze, Charges California Trader With Posting False Stock Tweets

Date 15/03/2021

The Securities and Exchange Commission today announced fraud charges and an asset freeze and other emergency relief against an Irvine, California-based trader who used social media to spread false information about a defunct company, while secretly profiting by selling his own holdings of the company's stock.

ISDA Publishes SBS Top-Up Protocol For SEC Dodd-Frank Rules

Date 15/03/2021

ISDA has today launched the ISDA 2021 Security-based Swaps (SBS) Top-Up Protocol, intended to help firms comply with certain SBS rules developed by the US Securities and Exchange Commission (SEC) as part of the Dodd-Frank Act.

Notice Of Election Released For CalPERS Board Elections

Date 15/03/2021

CalPERS has issued the official Notice of Election for the upcoming election of two (2) member-at-large representatives to the CalPERS Board of Administration.

Statement Of CFTC Commissioner Dan M. Berkovitz On Exchange Rules And Product Terms And Conditions That Fail To Impose Limits On Crude Oil “Trading At Settlement” Transactions

Date 15/03/2021

I.  Introduction

The Commission’s final rules on Position Limits for Derivatives (Position Limits Final Rules) become effective today, March 15, 2020.  In anticipation of this effective date, the New York Mercantile Exchange (NYMEX), a CFTC-registered designated contract market, “self-certified” amended product terms and conditions to raise the speculative position limits for its West Texas Intermediate (WTI) crude oil futures, including in the spot month.  NYMEX and other CME Group contract markets also requested and received Commission approval of new or amended rules relevant to their position limits.   These exchange regulatory filings implementing the Position Limits Final Rules miss an opportunity to remediate a well-known vulnerability in these contract markets’ Trading at Settlement (TAS) rules, namely the absence of any numerical limits on the speculative use of TAS contracts during the spot month of the contract.  Last year, the Commission failed to address this issue in its report on the April 20 collapse of WTI crude oil futures prices, as well as in the Position Limits Final Rules. Today, the contract markets also do not address this issue.