BLM-National Bank of Rwanda 231127182

Credit risk and operational resilience named as National Bank of Rwanda’s top supervisory priorities

Gaining more insight into the credit risk profiles, the capital strength and operational resilience of Rwanda’s banks are among the top supervisory priorities for the nation’s central bank, as the sector adapts to remote working to help curb the spread of the covid-19 pandemic.

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UK banks fret over operational risks relating to negative interest rates

The threat of negative interest rates continues to hover over the UK banking system, with the topic once again being raised in the Bank of England’s monetary policy committee minutes of February 4 an unwelcome reminder for banks already struggling with a tough economic environment. 

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Regulators to give climate finance a bigger push

National supervisors and The International Organization of Securities Commissions (IOSCO) are looking at more coordinated and accelerated efforts to push forward the climate finance agenda, said Ashley Alder, chief executive officer at Hong Kong’s Securities and Futures Commission (SFC). 

BLM-Hyen Song Shin 338618561

Big tech eyeing financial services prompts regulatory rethink

The debate on supervising big techs’ move into financial services may need to include competition, data privacy and regulatory frameworks. 

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Cryptocurrencies face setback in Nigeria following renewed central bank clampdown

The Central Bank of Nigeria has made renewed efforts to clamp down on the growing use of cryptocurrencies, and in the process has forced the Nigerian Securities and Exchange Commission to rethink its plans to regulate them.

Christian Kopf

Bank of England resurrects market maker of last resort concept

Suggestions by a Bank of England official that central banks could become market makers of last resort due to structural market changes have triggered mixed reactions with some embracing the idea, while others see potential moral hazard and yet another group thinks it is essentially a regulatory problem.

Narina Mnatsakian

Concerns over Franco-Dutch initiative leading to burdensome ESG reporting

French and Dutch securities regulators are pushing for tougher standards for environmental, social and governance data in the fight against greenwashing, but critics fear burdensome reporting will stifle innovation in the race against climate change.

Leonie Kelly

Hong Kong leverages its capital markets in bid to dominate green finance

Hong Kong, encouraged by mainland China, has ambitions to become Asia’s green financial hub, though the territory still has a way to go to establish its sustainable credentials. By Victor Smart

Teo Floor

March 2020 volatility sparks debate over clearing house initial margin models

ISDA is pushing financial regulators to scrutinise margin models at clearing houses after Covid-induced market volatility last spring sent initial margins through the roof, while CCPs sound a note of caution. 

David Gurlé

FCA could examine industry conduct once pandemic is over

Some industry sources are warning that once the Covid-19 pandemic has passed, the UK’s Financial Conduct Authority could carry out a ‘look back’ exercise to see if firms followed proper compliance procedures and maintained good conduct. 

Liz Truss

UK opens new chapter for financial services as it applies to join trans-Pacific trade pact

The UK’s application to join a trans-Pacific trade pact sets the scene for a new chapter for the country’s giant financial services industry while negotiations for a memorandum of understanding on the sector with the EU remain fraught with uncertainty. 

Cyber attacks

Financial firms have borne the brunt of cyber attacks during Covid-19 pandemic

The financial sector has been more often targeted by hackers during the Covid-19 pandemic meaning there is a significant risk of a severe disruption or systemic event, the Bank for International Settlements (BIS) warned in a bulletin. 

Could central bank digital currencies revolutionise capital markets? A discussion with the Swiss National Bank