Regular dialogue and regulatory cooperation to respond to the fallout from the Covid-19 pandemic on capital markets and their infrastructures is taking place, according to the International Organization of Securities Commissions (IOSCO).
PBoC readying new laws to launch digital currency
The People’s Bank of China (PBoC) is a step closer to launching a central bank digital currency (CBDC) having completed, with the help of private companies, many of the technical functions to support it.
Global regulatory banking reforms face first major test
The economic fallout from the coronavirus pandemic is the first major test of the reformed Basel framework. But with more stress to come will it prove resilient and is it likely to be revised again once the crisis passes?
Extreme volatility brings liquidity issues back to the forefront
The markets mostly functioned well during the recent extreme market volatility, but liquidity was highlighted as an issue suggesting that a number of rules may need to be revisited
Banks coping with toughest resilience test yet
Along with the rest of the world, Covid-19 has thrust global banks into crisis mode forcing them to pay close attention to operational issues in a way that they haven’t had to do before
FASB to discuss accounting response to Covid-19 pandemic
The Financial Accounting Standards Board (FASB) is to hold a meeting on April 8 to discuss plans to support stakeholders as they navigate the impact of the Covid-19 pandemic.
European Parliamentary group urges UK to extend transition period
The largest political grouping in the European Parliament has urged the UK government to extend the transition period beyond December 31 due to the fallout from the Covid-19 pandemic.
CFPB provides relief on mortgage reporting requirements
As of March 26, lenders were not required to report quarterly home mortgage disclosure act data scheduled to be collected on May 30, the Consumer Financial Protection Bureau (CFPB) said in a statement.
US banks have increased lending to businesses by $400bn so far
As the Covid-19 pandemic spread, US banks increased lending to US businesses of all sizes by $400bn as of April 1, said the lobby group the Bank Policy Institute (BPI).
CFTC ramps up relief to derivatives sector to help it cope with Covid-19
The derivatives industry is receiving steadily more regulatory relief from the Commodity Futures Trading Commission (CFTC) to help it mitigate the fallout from the Covid-19 pandemic.
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