Europe

Capital / Liquidity

FINMA Attempts to Withhold Documents in Credit Suisse-related Lawsuits

By Editors | 09/04/2024

The lawsuits relate to losses suffered by investors as a result of a decision by Swiss authorities to wipe out Credit Suisse AT1 bonds in the bank’s rescue last year.

Crypto / Digital Assets

ESMA Calls on EU Commission to Clarify Aspects of DLT Pilot Regime

By Manesh Samtani | 08/04/2024

Four applications have been received and eight others are expected in 2024, but no authorisations have been granted under the Regime.

Capital / Liquidity

Bank Capital Rules Are Holding Back Transition: Study

By ESG Investor | 05/04/2024

EBA analysis found that the models used by banks produce a lower risk rating for high carbon than low carbon sectors.

Crypto / Digital Assets

ECB Announces Participants for Upcoming DLT Settlement Trials

By Editors | 05/04/2024

The first wave of trials will involve ten market participants, six market DLT operators, and five central banks.

Fintech / Regtech

UK Sets Out Proposed Approach to Digital Securities Sandbox

By Editors | 04/04/2024

The sandbox will allow experimentation with DLT and “may lead to a new permanent regulatory regime for securities settlement”.

Sanctions

OFAC Removes Former VTB Bank Subsidiary from Sanctions List

By Editors | 04/04/2024

German authorities took control of VTB’s European subsidiary in 2022. The Russian parent was unable to exercise its rights due to sanctions.

Crypto / Digital Assets

New BIS Project Seeks Overhaul of Global Payment System

By Manesh Samtani | 04/04/2024

Seven central banks will develop common infrastructure that can accommodate tokenised versions of wholesale central bank money and commercial bank deposits.

Sanctions

BVI Government to Establish Dedicated Sanctions Unit

By Editors | 03/04/2024

The new unit is being established with UK support to help ensure the effective implementation and enforcement of sanctions.

Market Infrastructure

UK Starts Preparing for Move to T+1 Settlement Cycle

By Manesh Samtani | 31/03/2024

Some operational changes will be implemented by end-2025, to enable the market to prepare for a full transition to T+1 before end-2027.