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  • Bank CEOs And Policy-Makers Join Taskforce To Study Future Of Global Financial System At Davos

    Date 26/01/2016

    • Mark Carney, Governor, Bank of England and Chairman of the Financial Stability Board (FSB), and Professor Klaus Schwab, Founder and Executive Chairman, World Economic Forum, announced on Tuesday the creation of a high-level Taskforce to address the future of the global financial system
    • The Taskforce, which met for the first time in Davos, comprises eight senior decision-makers from Citigroup, BlackRock, HSBC, Bank of America, Reserve Bank of India, IMF, Chinese University of Hong Kong
    • The group will focus on the inclusion of emerging market economies in the global financial system, technology-enabled innovation and the economic cost-benefit of post-crisis regulatory reforms as outlined here

  • European Commission’s Handling Of Financial Crisis Was “Generally Weak”, Say EU Auditors

    Date 26/01/2016

    The European Commission was not prepared for the first requests for financial assistance during the 2008financial crisis because warning signs had passed unnoticed, according to a new report from the EuropeanCourt of Auditors. The auditors found that the Commission did succeed in managing assistance programmes which brought about reform, despite its lack of experience, and they point to a number of positive outcomes. But they also identify several areas of concern relating to the Commission’s “generally weak” handling of the crisis: countries treated differently, limited quality control, weak monitoring of implementation andshortcomings in documentation.

  • The Joint Board Of Appeal Of The ESAs Decides On Kluge, Belyaev, Radio Elektroniks OÜ And Dyakov Appeal Against The EBA

    Date 26/01/2016

    The Joint Board of Appeal of the European Supervisory Authorities (ESAs – European Banking Authority, European Insurance and Occupational Pensions Authority, and European Securities and Markets Authority) published today its decision in an appeal brought by four appellants, Andrus Kluge, Boris Belyaev, Radio Elektroniks OÜ and Timur Dyakov, against a decision of the European Banking Authority (EBA). 

  • Eris Launches Major Expansion of Standard Swap Futures

    Date 26/01/2016

    Eris Exchange (Eris), a U.S.-based futures exchange offering swap futures as a regulatory-compliant and capital-efficient alternative to OTC swaps, announced the expansion of its flagshipEris Standard U.S. Dollar Interest Rate Swap Future complex on January 11th. This launch follows a record year in 2015 for Eris Exchange in terms of volume, open interest, trade count, and number of participants, as well as the addition of multiple new Liquidity Providers, clearing firms, and execution platforms. 

  • US Treasury And Commerce Announce Further Amendments To The Cuba Sanctions Regulations - Amendments Further Implement President Obama’s Policy Related To Easing Of Sanctions On Cuba

    Date 26/01/2016

    Today, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) and the Department of Commerce’s Bureau of Industry and Security (BIS) are announcing new amendments to the Cuban Assets Control Regulations (CACR) and Export Administration Regulations (EAR), respectively.  These amendments further implement the new direction toward Cuba that President Obama laid out in December 2014.  The changes will take effect on January 27, 2016, when the regulations are published in the Federal Register.  The new amendments are outlined below.