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Key Changes In The 2021 ISDA Interest Rate Derivatives Definitions

Date 24/06/2021

On June 11, 2021, ISDA published the 2021 ISDA Interest Rate Derivatives Definitions, the latest in a series of definitional booklets that have provided the framework for documenting over-the-counter interest rate derivatives transactions since 1985.
Federal Reserve Senior Credit Officer Opinion Survey On Dealer Financing Terms- Release Dates

Date 24/06/2021

The Senior Credit Officer Opinion Survey on Dealer Financing Terms (SCOOS) is a quarterly survey providing information about the availability and terms of credit in securities financing and over-the counter (OTC) derivatives markets. The SCOOS is modeled after the long-established Senior Loan Officer Opinion Survey on Bank Lending Practices, which provides qualitative information about changes in supply and demand for loans to households and businesses at commercial banks. The SCOOS collects qualitative information on credit terms and conditions in securities financing and OTC derivatives markets, which are important conduits for leverage in the financial system. The survey panel for the SCOOS began by including 20 dealers and over time has been expanded. These firms account for almost all of the dealer activity in dollar-denominated securities financing and OTC derivatives markets. The survey is directed to senior credit officers responsible for maintaining a consolidated perspective on the management of credit risks. The HTML links below include the full report; the PDF links include the summary only.
EBA: Consultation On Amendments To RTS On Credit Risk Adjustments In The Context Of The Calculation Of The Risk Weight (EBA/CP/2021/25)

Date 24/06/2021

The European Banking Authority (EBA) launched today a public consultation on amendments to its Regulatory Technical Standards (RTS) on credit risk adjustments in the context of the calculation of the Risk Weight (RW) of defaulted exposures under the Standardised Approach (SA). The proposed amendments follow up on the European Commission’s Action Plan to tackle non-performing loans in the aftermath of the COVID-19 pandemic, which indicated the need for a revision of the treatment of defaulted exposures under the SA. This update is necessary to ensure the prudential framework does not create disincentives to the sale of non-performing assets. The consultation runs until 24 September 2021.
TheStandard.Io Launches With The Aim Of Creating An Alternative To Retail Banking - The Executive Team, Which Made Vaultoro Successful, Announces Their New Project - A DeFi Lending Protocol Using Gold And Crypto To Generate The First Algorithmic Euro Stablecoin.

Date 24/06/2021

TheStandard.io, a new DeFi infrastructure project which aims to provide a bridge between traditional physical investments and digital assets has been announced. Co-Founded by Joshua Scigala, of Vaultoro, and Laurin Bylica, formerly block.one, TheStandard.io is a new Ethereum protocol which will allow users to generate a variety of fiat pegged stable cryptocurrencies backed by physical and digital assets.
EBA Launches Consultation To Amend Technical Standards On Credit Risk Adjustments

Date 24/06/2021

The European Banking Authority (EBA) launched today a public consultation on amendments to its Regulatory Technical Standards (RTS) on credit risk adjustments in the context of the calculation of the Risk Weight (RW) of defaulted exposures under the Standardised Approach (SA). The proposed amendments follow up on the European Commission’s Action Plan to tackle non-performing loans in the aftermath of the COVID-19 pandemic, which indicated the need for a revision of the treatment of defaulted exposures under the SA. This update is necessary to ensure the prudential framework does not create disincentives to the sale of non-performing assets. The consultation runs until 24 September 2021.

SEC Awards More Than $1 Million To Whistleblower

Date 24/06/2021

The Securities and Exchange Commission today announced an award of more than $1 million to a whistleblower whose information and assistance led to multiple successful SEC enforcement actions. The whistleblower provided SEC staff with valuable information and ongoing assistance, which included participating in interviews with the staff.
EBA Updates On Monitoring Of Additional Tier 1 Instruments And Issues Recommendations For ESG-Linked Capital Issuances

Date 24/06/2021

The European Banking Authority (EBA) published today its updated Report on the monitoring of Additional Tier 1 (AT1) instruments including an update on the monitoring of the implementation of the EBA’s Opinion on legacy instruments and its considerations on ESG capital bonds. The objective of this update is to further strengthen the robustness and quality of EU institutions’ own funds and eligible liabilities instruments.
BIS: Financial Benchmarks - Executive Summary

Date 24/06/2021

Interbank offered rates (IBORs) are widely used as an index for almost all financial instruments, including derivatives, securitised products, loans, floating rate bonds, credit cards and deposits.
The European Commission, ECB Banking Supervision, EBA And ESMA Encourage Market Participants To Cease All LIBOR Settings

Date 24/06/2021

The European Commission, the European Central Bank in its banking supervisory capacity (ECB Banking Supervision), the European Banking Authority (EBA) and the European Securities and Markets Authority (ESMA) today issued a joint statement in which they strongly encourage market participants to use the time remaining until the cessation or loss of representativeness of USD LIBOR, GBP LIBOR, JPY LIBOR, CHF LIBOR and EUR LIBOR to substantially reduce their exposures to these rates.
US Treasury Secretary Janet L. Yellen To Travel To G20 Finance Ministers And Central Bank Governors Meeting In Venice, Italy - Will Also Travel To Brussels, Belgium To Advance U.S. Policy Priorities

Date 24/06/2021

The U.S. Department of the Treasury today announced that Secretary Janet L. Yellen will attend the G20 Finance Ministers and Central Bank Governors meeting in Venice, Italy from July 9-10, 2021. While in Venice, Secretary Yellen will continue to reinforce the U.S. commitment to multilateralism and advance U.S. policy priorities on global tax policy, climate change, an inclusive economic recovery, and global health. She will also hold bilateral meetings with G20 counterparts.