News Centre

Federal Reserve Issues FOMC Statement

Date 17/03/2021

The Federal Reserve is committed to using its full range of tools to support the U.S. economy in this challenging time, thereby promoting its maximum employment and price stability goals.

EBA Consults On Its Draft Guidelines For Institutions And Resolution Authorities On Improving Resolvability

Date 17/03/2021

The European Banking Authority (EBA) published today a consultation on Guidelines for institutions and resolution authorities on improving resolvability. These Guidelines represent a significant step in complementing the EU legal framework in the field of resolution. They aggregate existing international standards, leverage on existing EU best practices and implement them into an EU-wide legal document. The consultation runs until 17 June 2021.

Federal Reserve Board And Federal Open Market Committee Release Economic Projections From The March 16-17 FOMC Meeting

Date 17/03/2021

The attached tables and charts released on Wednesday summarize the economic projections made by Federal Open Market Committee participants in conjunction with the March 16-17 meeting.

EBA Consults On Changes To Its Guidelines On Risk-Based AML/CFT Supervision

Date 17/03/2021

The European Banking Authority (EBA) launched today a public consultation on changes to its Guidelines on Risk-Based Supervision of credit and financial institutions’ compliance with anti-money laundering and countering the financing of terrorism (AML/CFT) obligations. The proposed changes address the key obstacles to effective AML/CFT supervision that the EBA has identified during its review of the existing Guidelines, including the effective use of different supervisory tools to meet the supervisory objectives. The Guidelines are central to the EBA’s mandate to lead, coordinate and monitor the EU financial sector’s fight against money laundering and terrorist financing. The consultation runs until 17 June 2021. 

US Treasury And IRS Disbursed 90 Million Economic Impact Payments From The American Rescue Plan

Date 17/03/2021

Today, the U.S. Department of the Treasury, the Internal Revenue Service, and the Bureau of the Fiscal Service announced they disbursed approximately 90 million Economic Impact Payments from the American Rescue Plan. As announced last week, Economic Impact Payments are rolling out in tranches to millions of Americans in the coming weeks.

ESAs Consult On Taxonomy–Related Product Disclosures

Date 17/03/2021

The three European Supervisory Authorities (EBA, EIOPA and ESMA – ESAs) have today issued a Consultation Paper seeking input on draft Regulatory Technical Standards (RTS) regarding disclosures of financial products investing in economic activities that contribute to an environmental investment objective. These economic activities are defined by the EU Regulation on the establishment of a framework to facilitate sustainable investment (Taxonomy Regulation).

Acting Chairman Behnam Establishes New Climate Risk Unit - Interdivisional Group Will Focus On Derivatives Markets’ Role In Addressing Climate-Related Risk And Transitioning To Low-Carbon Economy

Date 17/03/2021

Commodity Futures Trading Commission Acting Chairman Rostin Behnam today announced he has established the Climate Risk Unit (CRU) to support the agency’s mission by focusing on the role of derivatives in understanding, pricing, and addressing climate-related risk and transitioning to a low-carbon economy. Comprised of staff from across the CFTC’s operating divisions and offices, the CRU represents the agency’s next step in response to what has become a global call to action on tackling climate change. The CRU is intended to accelerate early CFTC engagement in support of industry-led and market-driven processes in the climate—and the larger ESG—space critical to ensuring that new products and markets fairly facilitate hedging, price discovery, market transparency, and capital allocation.

EBA Launches Call For Papers For Its 2021 Policy Research Workshop

Date 17/03/2021

The European Banking Authority (EBA) launched today a call for research papers in view of its 2021 Policy Research Workshop taking place on 16-17 November 2021 on the topic "New technologies in the banking sector – impacts, risks and opportunities". The submission deadline is 9 July 2021.

UK Chancellor Of The Exchequer, Rishi Sunak Call With US Treasury Secretary, Janet Yellen

Date 17/03/2021

Chancellor of the Exchequer, Rishi Sunak and US Treasury Secretary, Janet Yellen recently (15 March 2021) spoke on the phone to discuss a possible new allocation of Special Drawing Rights.

BIS: Liquidity Management And Asset Sales By Bond Funds In The Face Of Investor Redemptions In March 2020

Date 17/03/2021

Key takeaways

• Investor redemptions are one factor behind asset sales by open-ended mutual funds, but an important
  additional factor is the selling due to the funds' liquidity management.
• Funds holding illiquid assets reacted to redemptions in March 2020 by adding to their cash buffers even
  after meeting investor redemptions. For such funds, asset sales exceeded investor redemptions.
• Increases in end-of-period cash holdings were less pronounced for funds that started the stress period
  with larger buffers, suggesting that such funds were less prone to selling at the height of the stress.