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Surprising alignment on stablecoins and strong support for tokenised assets, but details are sparse
US broker has opened office in Milan, Stockholm will be next
Investors should feel more confident when BNPL products are regulated like mainstream consumer credit
'Maybe in hindsight disintermediation would have worked better'
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The EU Commission is rushing to untangle legislation that would have stopped EU investors from buying Australian securitizations or covered bonds, after the country ended up on the EU’s list of non-cooperative tax jurisdictions.
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In this round-up, China urges the US to help improve their bilateral relationship, the banking and insurance regulator sets restrictions on lenders participating in the online loan market, and FTSE Russell decides to include 11 Star market stocks in its global equity benchmarks.
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The UK government has opened a consultation on having a ‘safe harbour’ for legacy Libor contracts deemed too difficult to switch to another benchmark before the end of year deadline. However, market participants say much more needs to be clarified in the proposals.
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In this round-up, consumer inflation in China disappoints in January, lenders extend a record amount of new renminbi loans last month, and the banking and insurance regulator asks financial institutions to step up their reputational risk management.
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The Singapore Exchange (SGX) and Brussels-based Euroclear Bank have teamed up to launch a new bond structure in Asia.
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Working out how banks can take credible pathways towards net zero emissions will be top of the agenda for the A-list of the banking industry’s chief executives who have joined the Prince of Wales’ new Financial Services Task Force.