News Centre

BIS: Global Supply Chain Interdependence And Shock Amplification – Evidence From Covid Lockdowns

Date 14/09/2023

The Covid-19 pandemic and ensuing supply disruptions have reignited a longstanding debate over the benefits of global value chains (GVCs). At the same time, although aggregate trade generally rebounded across much of the globe during the second half of 2020, there were striking divergences in performance across industry sectors. Against this backdrop, we focus on two questions – how have GVCs evolved during the Covid years, and, does GVC participation amplify negative shocks?

Client Demand Is Driving Sustainable Investment Adoption According To FTSE Russell Global Asset Owner Survey

Date 14/09/2023

• Sustainable investment (SI) is being driven by client demand across the globe, with 52% of asset owners citing this as the rationale for them implementing or considering SI – rising to 83% in EMEA
• Following five years of steady growth there has been a directional dip in the level of asset owners globally that are implementing and evaluating SI – falling from 88% in 2022 to 80%
• Fewer asset owners are considering or have implemented allocations to active sustainable funds this year compared to 2022, but more are allocating to passive funds
•  Governance is now the number one priority for asset owners in all markets (54% in 2023 vs 33% in 2022)
• Data challenges cited as biggest barrier to SI adoption

Despite Short-Term Dip, Canadian Asset Owners Have Positive Long-Term Sentiment For Sustainable Investing, Finds FTSE Russell Global Asset Owner Surveyespite Short

Date 14/09/2023

• Climate/carbon is the number one priority for asset owners in Canada at 47%, followed by governance at 46%
•  47% of asset owners in Canada feel regulation helps them meet sustainable investment (SI) goals very well, compared to 36% of global respondents
•  55% of asset owners in Canada find the greatest challenge with regulation to be the inability to align portfolio / index with SI, compared to 35% on average globally

Sustainable Investment In Asia-Pacific Still High Despite Dip, According To FTSE Russell Global Asset Owner Survey

Date 14/09/2023

• Nine in 10 (90%) asset owners in the Asia-Pacific region have implemented or evaluated sustainable investment (SI) in their investment strategies, dropping from 97% in 2022.
•  Fixed income remains the top asset class for SI allocations in APAC (66%), higher than the global average (45%).
• Governance remains a priority focus for asset owners in Asia-Pacific, with 53% citing it as one of their top three sustainability issues of focus, followed by social themes (43%) and climate/carbon (34%).
• Asset owners in Asia-Pacific find that recent regulatory developments around SI are helpful for investors

With Wide-Ranging New Sanctions, US Treasury Targets Russian Military-Linked Elites And Industrial Base

Date 14/09/2023

Today, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) is imposing nearly 100 sanctions on Russian elites and Russia’s industrial base, financial institutions, and technology suppliers as the United States continues to leverage sanctions and economic restrictions to undermine Russia’s capacity to wage its war against Ukraine. The Department of State also designated more than 70 persons. Today’s sanctions focus on persons benefiting from, supporting, and sustaining Russia’s brutal war of choice against Ukraine. 

Tokeny Fuels ABN AMRO Bank In Tokenizing Green Bonds On Polygon

Date 14/09/2023

ABN AMRO, in collaboration with Tokeny, has made history as the first Dutch bank to tokenize a green bond on a public blockchain. Employing the market-standard ERC3643 through Tokeny’s sophisticated tokenization platform, ABN AMRO has established robust control over its digital bonds. A control that ensures all regulatory requirements are enforced on-chain at the smart contract level, even when these green bonds are represented on the Polygon permissionless network.

FIAB Appoints Javier Hernani As FIAB President For The Period 2023-2025

Date 14/09/2023

• He was elected by the member exchanges during their 50th General Assembly and Annual Meeting held in Panama

Opening Remarks By US Secretary Of The Treasury Janet L. Yellen At The Second Annual CFIUS Conference

Date 14/09/2023

Thank you, Meena, for the introduction, and thanks to Paul for his leadership. I’m very proud of what CFIUS has accomplished over the past year. And it’s a testament to the incredible team that Paul has assembled.

IMF Staff Co-Publish Paper On Climate Alignment For The Financial Sector

Date 14/09/2023

Staff from the International Monetary Fund (IMF), World Bank, and the OECD have today published a new report to compare methods for ensuring financial sector activities work for, not against, the Paris Agreement. The report, which also received input from BIS staff, aims to help policymakers, regulators and private sector entities improve sustainable finance ‘alignment approaches’, by identifying core design and implementation elements that could provide a minimum baseline of comparability across approaches.

Open Markets And Common Causes: International Collaboration And The Modernisation Of Financial Services Regulation In The UK, Speech By Ashley Alder, Chair, UK Financial Conduct Authority, Delivered At The Eurofi Conference

Date 14/09/2023

Highlights

• We will work alongside EU and global partners who are also pursuing pathways to sustainable economic prosperity whilst tackling the same financial sector risks, sharing and reflecting on best practice.
• We want to encourage efficient international investment flows based on strong cooperation and ensure that we can address risks which frequently know no borders. All of this will enable both EU and UK businesses to grow and thrive.
• We therefore welcome closer collaboration, working in partnership when developing common standards to avoid unnecessary and costly regulatory fragmentation.