News Centre

EBA Consults On Amendments To Guidelines On Risk-Based AML/CFT Supervision To Include Crypto-Asset Service Providers

Date 29/03/2023

The European Banking Authority (EBA) launched today a public consultation on amendments to its Guidelines on risk-based anti-money laundering and countering the financing of terrorism (AML/CFT) supervision. The proposed changes extend the scope of these Guidelines to AML/CFT supervisors of crypto-asset service providers (CASPs). The consultation runs until 29 June 2023.

BIS: Fiscal And Monetary Policy In Emerging Market Economies: What Are The Risks And Policy Trade-Offs?

Date 29/03/2023

Key takeaways

• Since 2021, monetary policy has tightened globally in response to the surge in inflation. Fiscal policies have generally remained expansionary, notably as governments put in place subsidies and  transfers to insulate households, first from the pandemic and then from higher energy and food prices. 
• Such fiscal support increases governments' funding needs at a time when tighter monetary policies raise the cost of servicing debts. Financial markets may reassess fiscal sustainability, request higher risk premia or reduce their holdings of sovereign bonds.
• Although such effects could affect both advanced and emerging market economies, the latter have historically been most vulnerable to a rise in the cost of international financing and a weaker exchange rate.

SEC Charges Crypto Trading Platform Beaxy And Its Executives For Operating An Unregistered Exchange, Broker, And Clearing Agency - Market Makers Separately Charged As Unregistered Dealers

Date 29/03/2023

The Securities and Exchange Commission today charged the crypto asset trading platform beaxy.com (the Beaxy Platform) and its executives for failing to register as a national securities exchange, broker, and clearing agency. The SEC also charged the founder of the platform, Artak Hamazaspyan, and a company he controlled, Beaxy Digital, Ltd., with raising $8 million in an unregistered offering of the Beaxy token (BXY) and alleged that Hamazaspyan misappropriated at least $900,000 for personal use, including gambling. Finally, the SEC charged market makers operating on the Beaxy Platform as unregistered dealers.

Global Action To Enhance Cross-Border Payments − Remarks By Victoria Cleland, Bank Of England, Executive Director For Banking, Payments And Innovation, Given At The Silk Road Cash & Payments Conference

Date 29/03/2023

Victoria delivered a virtual presentationOpens in a new window at The Silk Road Cash & Payments Conference on 29 March 2023. She spoke about the importance of enhancing cross-border payments and emphasised the need for global collaboration across the public and private sectors to achieving this goal.

Testimony Of US Under Secretary For Domestic Finance Nellie Liang Before The Committee On Financial Services, U.S. House

Date 29/03/2023

Chairman McHenry, Ranking Member Waters, and other members of the Committee, thank you for inviting me to testify today.  

I have had the opportunity to speak with committee members several times in recent days to share updates from Treasury regarding current events. In light of that, I will keep my introductory remarks brief.

Testimony Of US Secretary Of The Treasury Janet L. Yellen Before The State, Foreign Operations, And Related Programs Appropriations Subcommittee, U.S. House

Date 29/03/2023

Chairman Diaz-Balart and Congresswoman Meng: thank you for inviting me to join you today. I would also like to thank you for your leadership and support of the Treasury Department’s international programs.

DTCC Announces Executive Leadership Team Appointments

Date 29/03/2023

The Depository Trust & Clearing Corporation (DTCC), the premier post-trade market infrastructure for the global financial services industry, today announced several key leadership appointments that become effective on April 10, 2023. These leaders will report to Francis (Frank) La Salla, DTCC’s President and Chief Executive Officer, and serve on the company’s Management Committee.

Bank Of England: Financial Policy Summary And Record - March 2023

Date 29/03/2023

The Financial Policy Committee (FPC) works to ensure the UK has a stable financial system. This means households and businesses can make payments, manage their savings, borrow money, and guard against risks.

ESMA Withdraws The CRA Registration Of Scope Hamburg GmbH

Date 29/03/2023

The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has withdrawn the credit rating agency (CRA) registration of Scope Hamburg GmbH at the express request of the CRA.

Brief Remarks, Federal Reserve Vice Chair For Supervision Michael S. Barr, At The National Community Reinvestment Coalition Just Economy Conference, Washington, D.C. (Via Prerecorded Video)

Date 29/03/2023

Good morning. Thank you to the National Community Reinvestment Coalition (NCRC) for the invitation to speak with you today. I regret that I cannot be there in person, but I can imagine the energy and excitement in a room full of so many dedicated community development professionals. I appreciate all the work that NCRC members and partner organizations do to advance economic opportunities for people and communities throughout the country, and the role you play in helping to inform public policy. For these brief remarks, I was asked to share my thoughts on the Community Reinvestment Act (CRA), a topic of great interest to all of you and to me as well.