News Centre

Office Of The Comptroller Of The Currency Reports Key Risks, Effects Of COVID-19 In Federal Banking System

Date 09/11/2020

The Office of the Comptroller of the Currency (OCC) today reported the key issues facing the federal banking system and the effects of the COVID-19 pandemic on the federal banking industry in its Semiannual Risk Perspective for Fall 2020.

SEC: Staff Statement On WY Division Of Banking’s “NAL On Custody Of Digital Assets And Qualified Custodian Status” - Division Of Investment Management Staff In Consultation With FinHub Staff

Date 09/11/2020

The Staff of the Division of Investment Management (the “Staff”), in consultation with the FinHub Staff, issue this statement following the publication of a recent letter by the Wyoming Division of Banking that included the Wyoming Division of Banking’s views relating to the definition of “bank” and “qualified custodian” under the Investment Advisers Act of 1940 (the “Advisers Act”) and rule 206(4)-2 thereunder (the “Custody Rule”).

Supervision And Regulation Report, Federal Reserve Vice Chair For Supervision Randal K. Quarles, Before The Committee On Banking, Housing, And Urban Affairs, U.S. Senate, Washington, D.C.

Date 09/11/2020

Chairman Crapo, Ranking Member Brown, members of the committee, thank you for the opportunity to testify today on the Federal Reserve's supervisory activities in the context of the ongoing pandemic.

ISDA Response To ESMA Consultation On Fees For Benchmark Administrators Under BMR

Date 09/11/2020

On November 6, ISDA submitted a response to the European Securities and Markets Authority’s (ESMA) consultation on fees for benchmark administrators of critical and third-country benchmarks under the Benchmarks Regulation (BMR). Following the implementation of a review by the European Supervisory Authorities, ESMA will have direct supervisory responsibilities on these benchmarks and their administrators. Throughout its response, ISDA notes that the application cost and minimum annual fee could act as a barrier to entry for firms that do not derive a large portion of their income from EU activity and therefore may conclude that registering does not make financial sense. This could potentially reduce the benchmarks that can be used in the EU and limit the options available to consumers. In terms of next steps, ESMA is expected to submit its final technical advice to the European Commission (EC) by January 31, 2020. Following this, the EC will have until October 1, 2021 to adopt delegated acts to specify to ESMA its new supervisory powers, types of fees and amount of the fees.

US Financial Stability Report

Date 09/11/2020

Current Report: November 9, 2020

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This report summarizes the Federal Reserve Board’s framework for assessing the resilience of the U.S. financial system and presents the Board’s current assessment. By publishing this report, the Board intends to promote public understanding and increase transparency and accountability for the Federal Reserve’s views on this topic.

Understanding The New IBOR Fallbacks – Virtual Event, November 9, 2020: Opening Remarks, Katherine Tew Darras, General Counsel, ISDA

Date 09/11/2020

Hello everyone, and welcome to Understanding the New IBOR Fallbacks. Thanks for joining us today for this virtual event, and thank you to our speakers.

On October 23, ISDA launched the IBOR Fallbacks Supplement and IBOR Fallbacks Protocol – the culmination of four years’ work and a major milestone in the transition from LIBOR.

SEC Publishes Notice Of German Substituted Compliance Application And Proposed Order

Date 09/11/2020

The Securities and Exchange Commission today voted to publish a notice of a substituted compliance application by Germany’s Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) as well as a proposed order that would conditionally provide substituted compliance for German firms that are registered with the Commission as security-based swap dealers and security-based swap participants.  These are the latest of a series of actions that the Commission has taken to stand up Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act, including cross-border regulation.

Moscow Exchange: Risk Parameters Change For The Security DIS-RM

Date 09/11/2020

As per the Securities market risk parameters methodology, on 09.11.2020, 23-09 (MSK) the upper bound of the price band (up to 11476) and initial margins (up to 24.5 %) for the security DIS-RM were changed. New values are available here

Ontario Securities Commission Research Demonstrates How Industry Can Use Behavioural Insights To Protect Older Investors - Report Identifies Techniques Dealers And Advisers Can Use To Encourage Older Clients To Provide Information For Enhanced Investor Protection Measures

Date 09/11/2020

The Ontario Securities Commission (OSC) today published OSC Staff Notice 11-790, Protecting Aging Investors through Behavioural Insights, which identifies behaviourally-informed tactics to successfully collect Trusted Contact Person (TCP) information and protect older investors.

CME Group Chief Financial Officer And Global Head Of Financial And OTC Products To Present At Bank Of America Securities Future Of Financials 2020 Virtual Conference

Date 09/11/2020

CME Group announced today that John Pietrowicz, Chief Financial Officer and Sean Tully, Global Head of Financial and OTC Products, will present at the Bank of America Securities Future of Financials 2020 Virtual Conference on Tuesday, November 10, at 8:50 a.m. (Eastern Time).