News Centre

EBA Standardises Information Requirements To Support Sales And Transfers Of Non-Performing Loans

Date 16/12/2022

• The EBA introduces information standardisation to increase the efficiency of secondary markets for sales of non-performing loans (NPL) and to reduce entry barriers for smaller banks and smaller investors.
• The proposed NPL transaction data templates are built on previous voluntary templates and consider the experience of market participants from the sell- and buy-side and other stakeholders.
• The NPL transaction data templates are the linchpin for numerous initiatives under the December 2020 European Commission’s action plan for NPL in the aftermath of the COVID-19 pandemic.

BIS: Governors And Heads Of Supervision Endorse Global Bank Prudential Standard For Cryptoassets And Work Programme Of Basel Committee

Date 16/12/2022

• The Basel Committee's oversight body endorses a global prudential standard for banks' exposures to cryptoassets, for implementation by 1 January 2025.
• Endorses the Committee's work programme and strategic priorities for 2023–24.
• The programme prioritises work on emerging risks and vulnerabilities, digitalisation, climate-related financial risks and Basel III implementation.

BIS: Systemic Fragility In Decentralised Markets

Date 16/12/2022

Summary

Focus 

Collateral is widely used in financial markets to mitigate asymmetric information problems and to limit credit risk exposure for lenders. In decentralised finance, collateralised lending is automated: collateral value is constantly monitored and margins are enforced by third parties. We focus on the ways in which third party collateral liquidations affect protocol risk, collateral risk and risks to the decentralised financial system.

ATSISTEMAS To Start Trading In BME Growth On 20th December

Date 16/12/2022

Nasdaq Named To Dow Jones Sustainability Index For The Seventh Consecutive Year - Company Received Key Recognitions By Several Third-Party Validators Throughout 2022

Date 16/12/2022

Nasdaq (Nasdaq: NDAQ) has been named for the seventh consecutive year to the Dow Jones Sustainability Index (DJSI), one of the most prestigious environmental, social, and governance (ESG) ranking benchmarks. Nasdaq maintains its industry leadership as one of just eight diversified financial services companies selected for inclusion in the 2022 North America Index.

Federal Reserve Board Adopts Final Rule That Implements Adjustable Interest Rate (LIBOR) Act By Identifying Benchmark Rates Based On SOFR (Secured Overnight Financing Rate) That Will Replace LIBOR In Certain Financial Contracts After June 30, 2023

Date 16/12/2022

The Federal Reserve Board on Friday adopted a final rule that implements the Adjustable Interest Rate (LIBOR) Act by identifying benchmark rates based on SOFR (Secured Overnight Financing Rate) that will replace LIBOR in certain financial contracts after June 30, 2023. The final rule is substantially similar to the proposal with certain clarifying changes made in response to comments.

EBA Publishes Its Closure Report Of Covid-19 Measures And Repeals Its Guidelines On Covid-19 Reporting And Disclosure

Date 16/12/2022

The European Banking Authority (EBA) today published its closure report of Covid-19 measures, which provides an overview of the wide range of policy measures taken on the back of the pandemic, their state of play and the path out of policy support.  Although the EU banking system proved overall resilient, the ample support provided does not give room to complacency, and the framework is to be further strengthened with a loyal and prompt implementation of Basel III. The publication is accompanied by an update to the list of public guarantee schemes (PGS) and general payment moratoria schemes issued in response to the pandemic. Finally, the EBA Guidelines on Covid-19 reporting and disclosure have been repealed in response to the decreasing relevance of the related public support measures, and the overall EBA proportionate approach to reporting.

ESMA Appoints New Chairs Of Standing Committees

Date 16/12/2022

The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has changed the structure of its standing committees and elected new Chairs.  The election took place at the Board of Supervisors meeting in Paris on 14 December.

CryptoCompare Year In Review: 2022 - Key Industry Events, 2023 Outlook & More

Date 16/12/2022

2022 was an unprecedented year for digital assets, with major headwinds and severe idiosyncratic events dictating the narratives of the industry, including the collapse of Terra Luna, FTX and more.

BIS: Regulating Big Tech

Date 16/12/2022

Summary

Focus 

Digital platforms and, in particular, social media platforms enjoy significant market power, which can be used in both the economic and the political arenas. Without regulatory restrictions, these platforms serve global markets and so issues of market power quickly become geopolitical issues. Thus, it is very difficult to address the issues arising from market power by regulating solely at the national level.