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United States
Liquidity Risk
US Bank Body Calls for Backstop to Cover All Midsized Lenders
By Editors | 20/03/2023
A group of midsized US lenders is calling on regulators to extend deposit protection to all deposits for the next two years to prevent a wider run on banks.
Liquidity Risk
Multiple Reviews in 2021 & 2022 Identified Deficiencies at SVB
By Editors | 20/03/2023
Deficiencies were identified in 2021 but left unaddressed. Last year, Fed officials warned SVB executives about liquidity and the models used to calculate capital.
Conduct, Culture & Accountability
Biden Seeks to Hold Executives Accountable for Bank Failures
By Editors | 20/03/2023
Joe Biden is asking Congress to make it easier for regulators to fine and ban executives of failed banks and claw back compensation.
Liquidity Risk
Central Banks Coordinate Action to Ensure Global USD Liquidity
By Editors | 20/03/2023
From Monday until at least the end of April, the Fed and other central banks will make US dollars available on a daily basis, rather than weekly.
Resolution & Recovery
SVB Financial Files for Chapter 11 Bankruptcy Protection
By Editors | 20/03/2023
The bankruptcy filing means SVB Financial can apply to the courts to resume activities while it looks for buyers for its assets.
Resolution & Recovery
Swiss Regulators Orchestrate UBS Takeover of Credit Suisse
By Manesh Samtani | 20/03/2023
The deal gives Credit Suisse shareholders shares in UBS worth just 40 percent of what their CS shares were worth on Friday.
Conduct, Culture & Accountability
China MOF Fines Deloitte for Huarong Audit Failures
By Editors | 19/03/2023
Deloitte’s China arm was fined a record CNY 212 million for “serious” deficiencies in its audit work for China Huarong Asset Management between 2014 and 2019.
PEPs & Sanctions
Raiffeisen Mulls Sberbank Cash Swap to Reduce Russia Exposure
By Editors | 19/03/2023
The deal involves Sberbank receiving roubles in Moscow from Raiffeisen’s Russian subsidiary, and Raiffeisen receiving euros in Vienna from Sberbank’s former European arm.
Sustainable Finance
Philippine SEC Proposes Guidelines for Blue Bond Issuance
By Editors | 17/03/2023
Eligible blue projects aim to directly address sustainable water management and ocean protection and seek to contribute to the development of the blue economy.
Structural Regulation
PCAOB Inspectors to Visit Hong Kong Auditors Next Week
By Editors | 17/03/2023
PCAOB inspectors will meet Deloitte and EY next week to prepare for audit inspections that will take place later this year.
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