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United States
PEPs & Sanctions
US, UK, EU and Australia Target Iran With New Sanctions
By Editors | 22/03/2023
The sanctions were imposed for human rights abuses and violations as well as the production and supply of drones to Russia.
Stablecoins
Stablecoin Reserves Should be Held at Central Banks: Circle
By Editors | 22/03/2023
Circle is seeking to be able to hold USD reserves with the Fed rather than with various financial partners. In the long run, a wholesale CBDC could be used.
Anti-Money Laundering
Philippine Agencies Sign Data Sharing Deal on Beneficial Ownership
By Editors | 22/03/2023
The agreement will allow the SEC to give competent authorities timely access to beneficial ownership information, in line with the FATF recommendations.
Fraud, Scams & Cybercrime
CFTC Revokes Registrations of Allianz Global Investors
By Editors | 22/03/2023
The CFTC’s order was issued to “protect the derivatives markets and market participants” after three portfolio managers made fraudulent representations to investors for several years.
Resolution & Recovery
FDIC Running Two Separate Auctions for SVB Assets This Week
By Editors | 22/03/2023
SVB and its private bank may be sold separately. First Citizens BancShares, Apollo Global Management, and a group of VC firms are considering bids.
Payments & Settlements
Migration to ISO 20022 Message Standard Commences
By Editors | 22/03/2023
This marks a significant milestone for the payments industry and the start of a coexistence period until November 2025, Swift said.
Liquidity Risk
Secretary Yellen Indicates Intent to Protect Smaller Banks
By Manesh Samtani | 22/03/2023
US Treasury Secretary Janet Yellen suggested further action could be taken, if needed, to protect other institutions that suffer deposit runs.
Fraud, Scams & Cybercrime
Bulgaria Extradites Former OneCoin Exec to Face US Charges
By Editors | 21/03/2023
OneCoin’s former head of legal and compliance is alleged to have helped launder millions of dollars of illegal proceeds through shell companies and bank accounts.
Liquidity Risk
US Banks Consider Fresh Efforts to Stabilise First Republic Bank
By Editors | 21/03/2023
The 11 banks which agreed to deposit $30bn into First Republic Bank last week are considering a direct capital infusion into the bank.
Resolution & Recovery
Flagstar Bank to Assume Signature Bank Deposits, FDIC Says
By Editors | 21/03/2023
The New York Community Bancorp subsidiary will assume “substantially all” the deposits of Signature Bank and buy $12.9bn of its loans at a discount.
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