The Monetary Authority of Singapore (MAS) has published new proposals for the regulation of stablecoin issuers and intermediaries, in a move that underscores the city-state’s intent to become a global leader in the sector.
The quantum threat to financial services
Quantum computers could pose an existential threat to the heavily used encryption solutions that underpin the internet, including activities such as online financial services, which could see bank accounts drained in a flash.
Regulators get tough on misleading ESG claims
Global regulators are cracking down on companies’ misleading environmental and sustainability claims, known as “greenwashing”, with a flurry of new initiatives to tackle the problem.
Could medical science come to the rescue if ESMA bans RFQs in fixed-income markets?
A medical data science technique could help solve a complex bond automation problem should ESMA ban the use of requests for quotes in fixed-income markets. By Vuk Magdelinic, CEO of Overbond
Global regulators need to lead the net-zero implementation charge with transition plans
As COP27 came and went, one message rang abundantly clear: Global investment in decarbonization is falling far short of what is needed to get the world on track to limit warming to 1.5 degrees C. Transition planning could play a big part in meeting climate objectives. By: Lisa Quest and Elizabeth Hoyler at Oliver Wyman
Fed gears up to ensure banking system can withstand new threats
US banks face threats that barely existed or were not even thought of five to 10 years ago, said Michael Barr, vice-chair for supervision at the US Federal Reserve, who is nonetheless confident that banks are well capitalised enough to withstand the current challenges.
UK pensions ‘time-bomb’ sounds global financial stability warning
Severe volatility in the UK’s government bond (gilts) market triggered by the unravelling of a pension fund investment strategy is a clear warning sign of other dangers lurking in a leveraged financial system.
Eurozone financial stability under “severe” threat
Alarm bells are ringing in the upper echelons of the EU that the bloc’s financial system is on a shaky footing, thanks to the energy shock, the war in Ukraine, inflation and rising interest rates.
Climate stress testing comes of age but modelling challenges remain
Central banks report good progress on developing climate stress testing but critics point to weaknesses, including difficulties in modelling for catastrophic shocks to financial stability.
Banks turn to increasingly sophisticated technology to fend off hackers
The battle between hackers and banks is very unequal, with the former often able to perform their attacks anonymously at little cost. For banks, much is at stake from reputation to profitability and they are having to marshal increasingly sophisticated tools to defend their moats.
Regulators move to stop energy shock becoming a financial crisis
Financial regulators in Europe are buttressing banks to contain strains in the energy market and to stop them morphing into a full-blown financial crisis.
US dollar does not need a CBDC to maintain its global dominance
The role of the US dollar is so dominant and rooted in economic and financial factors that it does not necessarily require a central bank digital currency (CBDC) to maintain its lead, said US Federal Reserve Board governor Christopher Waller.
ESMA’s Verena Ross discusses the authority’s work on ESG, digitisation, data, benchmarks and cooperation with third countries
