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Europe
Capital / Liquidity
ECB Calling on US Banks to Relocate More Assets to EU
By Mark Johnston | 21/04/2023
The ECB has urged US banks to move more assets and risk to the euro area after a “desk mapping” review that took place last year.
Crypto / Digital Assets
Societe Generale Launches EUR Stablecoin on Public Blockchain
By Editors | 21/04/2023
The stablecoin’s legal structure guarantees complete segregation of the collateral assets held to back its value.
Securities / Derivatives
Singapore Investors Prepare to Sue Over Credit Suisse AT1 Bond Losses
By Editors | 21/04/2023
Lawyers for Singapore investors are preparing to argue that the Swiss government’s decision to write off Credit Suisse AT1 bonds violated a free trade agreement.
AML / KYC
European Parliament Gives Final Approval on MiCA Law
By Manesh Samtani | 21/04/2023
MiCA is expected to come into force around July; provisions relating to stablecoins from July 2024; and provisions relating to CASPs and the travel rule from January 2025.
Capital / Liquidity
EU Proposes to Adjust Bank Crisis Management Framework
By Editors | 20/04/2023
The proposal will facilitate the use of deposit guarantee schemes and resolution funds to shield depositors from bearing losses in banking crises.
Crypto / Digital Assets
ECB Urged to Improve Design Features of Digital Euro
By Mark Johnston | 20/04/2023
A new study evaluates the ECB’s progress on the digital euro and suggests ways to enhance its attractiveness and functionality.
Crypto / Digital Assets
BIS, BOE Unveil Findings from Payments Synchronisation Project
By Manesh Samtani | 19/04/2023
Project Meridian demonstrated the ability to synchronise property ownership transfer with payment settlement using central bank money.
Securities / Derivatives
Two More Chinese Firms List GDRs in Switzerland
By Editors | 19/04/2023
The listings come despite last month’s reports that Chinese regulators had stopped accepting applications from mainland firms seeking to issue GDRs in Switzerland.
AML / KYC
UK Watchdog Faces Surge in AML Whistleblower Reports
By Mark Johnston | 18/04/2023
The UK FCA has received 141 reports from insiders who raised concerns about their firms’ AML controls in the past six years.
Fintech / Regtech
UK Regulators Announce Next Steps for Open Banking Regime
By Mark Johnston | 18/04/2023
A new body will be created to boost the uptake of open banking in the UK and extend its benefits to other sectors of the economy.
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