News Centre

US Treasury Department Announces 2023 De-Risking Strategy

Date 25/04/2023

Today, the U.S. Department of the Treasury issued the 2023 De-risking Strategy, as mandated by Congress in the Anti-Money Laundering Act of 2020. The first of its kind, the Strategy examines the phenomenon of financial institutions de-risking and its causes, and it identifies those greatest impacted. It also offers recommended policy options to combat it.

BIS: Mobile Payments And Interoperability: Insights From The Academic Literature

Date 25/04/2023

Summary

Focus

A functional payment network requires significant infrastructure investment, which often has a public good element. At the same time, market forces may lead to the emergence of a dominant player. We focus on (i) the balance between competition and cooperation between service providers; (ii) the governance of key infrastructures in mobile payments; and (iii) the welfare implications of making mobile payment systems interoperable.

Qualified Custodian Aegis Trust Taps Anthony Botticella As New President - Former CEO Of BitGo Trust Will Lead Aegis Trust’s Operation And Growth

Date 25/04/2023

Aegis Trust, one of the select few digital asset qualified custodians in the U.S. offering client-centric technology infrastructure and regulatory compliant solutions, announced today that Anthony Botticella has been appointed as the new President of the company, as well as its global custodian entities, effective immediately. With over two decades of experience in trust and financial management, Mr. Botticella brings a wealth of expertise and knowledge to his new role.

ESMA: Over 140,000 EEA Issuers And Instruments Rated By CRAs

Date 25/04/2023

The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, today published its report on the European Union (EU) Credit Ratings market, providing for the first time a cross-market view of credit ratings reported to the EU.

Regulation Of Digital Assets In The UK, Speech By Sarah Pritchard, UK Financial Conduct Authority, Executive Director Of Markets, And Executive Director Of International, At City Week 2023

Date 25/04/2023

Highlights

• Regulation may be able to mitigate some of the harm, but it will not be able to stop all risk in relation to crypto - in particular risk of financial loss. Consumers who buy crypto must be prepared to lose all their money.
• We expect crypto promotions to be treated on a par with other high-risk investments and failure to comply will be a criminal offence.
• We want industry’s input to make sure we get the future regulatory regime for cryptoassets right. We have to have a conversation with policymakers, investors and consumers about the limits of regulation and the appetite for risk.

Monetary Policy: Prices Versus Quantities - Speech By Ben Broadbent, Bank Of England, Deputy Governor, Monetary Policy Given At The National Institute Of Economic And Social Research

Date 25/04/2023

In this speech Ben asks whether the transmission of monetary policy is better understood in terms of its impacts on interest rates and bond yields, on the one hand, or monetary aggregates on the other. He considers the relationship between those aggregates and inflation, both over the past and more recently. He also explains how the MPC takes account of “QT” in its forecasts.

MIAX Sapphire Exchange - Exchange Codes And Important Dates For The Launch Of A New Options Exchange, MIAX Sapphire In Q1 2024

Date 25/04/2023

MIAX will begin with the launch of the electronic exchange which is targeted for Q1 2024 with the physical trading floor to follow, pending SEC approval. Important dates and exchange code information for MIAX Sapphire are included below. Details on the launch of the MIAX Sapphire trading floor will be announced in a future alert.

S&P Global And Major Investors Back Credora In Building Transparent Credit Markets

Date 25/04/2023

The crypto lending business model has come under intense scrutiny following a spate of recent credit events. Credora is helping rebuild confidence in credit markets through transparency, and today the lending infrastructure provider announced a $6m strategic funding round with S&P Global and Coinbase Ventures as major investors. The funding will be used to further build institutional rails for credit, and enhance Credora’s private computation technology that helps accurately underwrite and monitor borrowers.

CUSIP Global Services Announces New Product And Service Enhancements - Introduces Expanded Data Fields, New Counterparty Risk Reports And Industry Utility Improvements

Date 25/04/2023

CUSIP Global Services (CGS) has implemented a series of product and service enhancements designed to improve the efficiency and transparency of financial markets. Provided at no additional cost to all CGS customers, these improvements include an expansion of the standard CUSIP data field to include reference to all securities designated 13(f) by the Securities and Exchange Commission (SEC), the introduction of a new series of counterparty risk reports highlighting all CUSIPs associated with high profile bank failures and federal sanctions lists, and a series of infrastructure improvements to the Association of National Numbering Agencies (ANNA) Service Bureau.

Bank Of England: Changes To The Provision Of U.S. Dollar Repo Operations From 1 May 2023 – Market Notice 25 April 2023

Date 25/04/2023

The Bank of England (the Bank), the Bank of Japan, the European Central Bank and the Swiss National Bank, in consultation with the Federal Reserve, have jointly decided to revert from daily to weekly 7-day maturity operations, which provide liquidity via the standing U.S. dollar liquidity swap line arrangements.