News Centre

Utopia Genesis Foundation Launches New Open Platform For Music Industry, Whitelabels Bitfinex Autonomous Token Sale Technology For December IEO - Artists, Record Labels, And Performance Rights Organizations Can Leverage New Blockchain Platform For Launching And Managing Commercial Projects

Date 30/11/2020

Utopia Genesis Foundation, the organization formed to support the development of an open platform for the music industry, announced today Utopia Open Platform has launched directly on Mainnet. Coinciding with this news, Utopia Genesis Foundation has whitelabeled Bitfinex’s Autonomous Token Sale technology to conduct an initial exchange offering for the blockchain’s native currency, UOP, in December. 

Federal Reserve Board Releases Results Of Survey Of Senior Financial Officers At Banks About Their Strategies And Practices For Managing Reserve Balances

Date 30/11/2020

The Federal Reserve Board on Monday released results of a survey of senior financial officers at banks about their strategies and practices for managing reserve balances. The Senior Financial Officer Survey is used by the Board to obtain information about deposit pricing and behavior, bank liability management, the provision of financial services, and reserve management strategies and practices. The most recent survey was conducted in collaboration with the Federal Reserve Bank of New York between September 18, 2020, and October 2, 2020, and includes responses from banks that held approximately three quarters of total banking system reserve balances at the time of the survey.

MNI Chicago Business Barometer™ – Eased To 58.2 In November

Date 30/11/2020

Key Points – November Report

The Chicago Business Barometer^TM, produced with MNI, slipped to 58.2 in November. The index now stands at the lowest level since August but remains in expansion.

Federal Reserve Board Announces Extension Through March 31, 2021, For Several Of Its Lending Facilities That Were Generally Scheduled To Expire On Or Around December 31

Date 30/11/2020

The Federal Reserve Board on Monday announced an extension through March 31, 2021, for several of its lending facilities that were generally scheduled to expire on or around December 31.

CFTC And CONSOB Sign MOU For Supervision Of Cross-Border Firms

Date 30/11/2020

The Commodity Futures Trading Commission and the Commissione Nazionale per le Società e la Borsa (CONSOB) today announced the signing of a Memorandum of Understanding (MOU) regarding cooperation and the exchange of information in the supervision and oversight of regulated firms that operate on a cross-border basis in the United States and in Italy.

UK Financial Conduct Authority Response To IBA’s Proposed Consultation On Intention To Cease US$ LIBOR

Date 30/11/2020

ICE Benchmark Administration (IBA), the FCA-regulated and authorised administrator of LIBOR, has today announced that it will consult in early December on its intention to cease US$ LIBOR. IBA intends that, subject to confirmation following its consultation, one week and two month US$ LIBOR settings will cease at end-2021, and that the US$ LIBOR panel will cease at end-June 2023.

Nigerian Stock Exchange Migrates Four Companies From ASeM To Growth Board

Date 30/11/2020

The Nigerian Stock Exchange (“NSE” or “The Exchange”) is pleased to announce the migration of Chellarams Plc, Living Trust Mortgage Plc, McNichols Plc, and The Initiates Plc from the Alternative Securities Market (ASeM) to the Growth Board and the launch the associated Growth Board Index on Monday, 30 November 2020.  This migration follows the receipt of applications from these companies requesting to be migrated from ASeM, and consequent screening and approval by the National Council of The Exchange.

US Federal Agencies Issue Statement On LIBOR Transition

Date 30/11/2020

The Federal Reserve Board, Federal Deposit Insurance Corporation and Office of the Comptroller of the Currency today issued a statement encouraging banks to cease entering into new contracts that use USD LIBOR as a reference rate as soon as practicable and in any event by December 31, 2021, in order to facilitate an orderly—and safe and sound— LIBOR transition.

Statement On Developments Related To The LIBOR Transition, SEC Chairman Jay Clayton, Nov. 30, 2020

Date 30/11/2020

Today’s announcements establish a pragmatic, market-oriented path for managing the transition away from LIBOR. We encourage registrants to proactively transition to market-based reference rates and stand ready to assist market participants.

Federal Reserve Board Welcomes And Supports Release Of Proposal And Supervisory Statements That Would Enable Clear End Date For U.S. Dollar (USD) LIBOR And Would Promote The Safety And Soundness Of The Financial System

Date 30/11/2020

The Federal Reserve Board on Monday welcomed and supported the release of a proposal and supervisory statements that would enable a clear end date for U.S. Dollar (USD) LIBOR and would promote the safety and soundness of the financial system. The announcements today by regulators in the United States and United Kingdom and by the benchmark administrator for LIBOR together lay out a path forward in which banks should stop writing new USD LIBOR contracts by the end of 2021, while most legacy contracts will be able to mature before LIBOR stops.