News Centre

Readout: From March 9 To March 11, U.S. Candidate For World Bank President Ajay Banga Continued His Global Listening Tour In London, United Kingdom.

Date 12/03/2023

On March 9, Banga met with senior British government officials including Chancellor of the Exchequer Jeremy Hunt, and Minister of State for Development and Africa Andrew Mitchell. In those meetings, Banga exchanged views with British officials on the need to deliver on the World Bank’s core goals of eliminating extreme poverty and expanding shared prosperity while also addressing intertwined challenges like climate change, pandemics, and fragility. Banga also reiterated the importance of stretching the World Bank’s available resources — including through steps outlined in the G20’s Capital Adequacy Framework — while also mobilizing private capital. Banga thanked the officials for the United Kingdom’s support for his candidacy.

An Update From UK Chancellor Jeremy Hunt On Silicon Valley Bank UK

Date 12/03/2023

The Bank of England announced on Friday that Silicon Valley Bank UK is set to enter insolvency, following action taken by its parent company in the United States. The Bank of England confirmed in its announcement that Silicon Valley Bank has a limited presence in the UK and does not perform functions critical to the financial system.

Tehran Stock Exchange Weekly Market Review 4 March 2023 To 8 March 2023

Date 11/03/2023

Click here to download Tehran Stock Exchange's weekly market review.

Court Grants Preliminary Approval To Second Settlement In CalPERS Long-Term Care Class Action

Date 10/03/2023

CalPERS and attorneys representing plaintiffs today announced that a judge has granted preliminary approval to a new, second settlement of the class action lawsuit involving the CalPERS Long-Term Care (LTC) Program, known as Wedding, et al. v. CalPERS.

The U.S. Economic Recovery In International Context, By: Assistant Secretary For Economic Policy Benjamin Harris And Deputy Assistant Secretary For Macroeconomic Policy Tara Sinclair

Date 10/03/2023

OVERVIEW

With the American Rescue Plan’s two-year anniversary approaching on March 11, 2023, this blog post revisits the economic impact of pandemic response policies of the Biden Administration. The economic recovery from the pandemic in the United States has been historic relative to prior episodes with employment recovering to pre-crisis levels much faster than after recent recessions. And while a counterfactual recovery is impossible to observe, data suggests that the actions taken by the Biden Administration meaningfully contributed to the pace of recovery and strength of the labor market. One way to put this rebound in context is relative to recoveries in other advanced economies.  Acknowledging that other advanced economies faced different economic shocks—notably, our European partners were more adversely affected by Russia’s war against Ukraine—the evidence shows that the U.S. economic recovery has been quite strong.

CFTC Commitments Of Traders Reports Update

Date 10/03/2023

The Commitments of Traders (COT) market report for the week ending February 24, 2023 is now available. Report data is also available in the CFTC Public Reporting Environment (PRE), which allows users to search, filter, customize and download report data.

MIAX Exchange Group - Option & Equity Markets - Cboe Exchange Has Received Approval To Amend Cboe Rule 10.3 Regarding Margin Requirements

Date 10/03/2023

The Cboe Exchange, Inc. (“Cboe”) has received approval from the Securities and Exchange Commission (“SEC”) to amend Cboe Rule 10.3 regarding margin requirements related to cash-settled index options written against exchange-traded funds (‘‘ETF(s)’’) that track the same index underlying the option.

Bank Of England Statement: Silicon Valley Bank UK

Date 10/03/2023

The Bank of England, absent any meaningful further information, intends to apply to the Court to place Silicon Valley Bank UK Limited (‘SVBUK’) into a Bank Insolvency Procedure. A Bank Insolvency Procedure would mean that eligible depositors are paid out by the FSCS as quickly as possible up to the protected limit of £85,000 or up to £170,000 for joint accounts. SVBUK’s other assets and liabilities would be managed in the insolvency by the bank liquidators and recoveries distributed to its creditors. SVBUK has a limited presence in the UK and no critical functions supporting the financial system. In the interim, the firm will stop making payments or accepting deposits.

Readout: US Secretary Of The Treasury Janet L. Yellen Convenes Financial Regulators

Date 10/03/2023

Today, Secretary of the Treasury Janet L. Yellen convened leaders from the Federal Reserve, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency to discuss developments around Silicon Valley Bank. Secretary Yellen expressed full confidence in banking regulators to take appropriate actions in response and noted that the banking system remains resilient and regulators have effective tools to address this type of event.  

Statement Regarding The Commission’s Disapproval Of A Proposed Rule Change To List And Trade Shares Of The VanEck Bitcoin Trust, SEC Commissioner Hester M. Peirce, SEC Commissioner Mark T. Uyeda, March 10, 2023

Date 10/03/2023

Nearly six years have passed since the Commission issued, via authority delegated to the Division of Trading and Markets, its first order disapproving an application by an exchange to list and trade an exchange-traded product (“ETP”) designed to track the price of spot bitcoin. Notwithstanding significant evolution of the bitcoin market, the Commission has continued to disapprove every such filing that has come before it. In our view, the Commission is using a different set of goalposts from those it used—and still uses—for other types of commodity-based ETPs to keep these spot bitcoin ETPs off the exchanges we regulate. Today, the Commission has issued the latest in this disappointing string of disapproval orders. This order’s analysis essentially repeats the analysis that the Commission has given in each of these recent orders. However, it is worth reflecting on the Commission’s approach to these products, how that approach differs from the approach the Commission has taken—and indeed continues to take—toward other commodity-based ETPs, and what this bodes for the future of innovation, and by extension, for investor protection and capital formation, in our markets.