Browsing: Compliance and Risk

Compliance and Risk

Financial firms that have not started their work to transition from the London Interbank Offered Rate and making fallback plans for contracts—especially loans—that currently reference it need to begin right away, the Basel, Switzerland-based Financial Stability Board said in a progress report today on the reference rate transition.

Policy

The Securities Exchange Commission today finalized a package of proposed changes and guidance related to the regulation of cross-border security-based swaps, including single-name credit default swaps.

Policy

Next year, the FSB expects to tackle fintech developments worldwide, including the growing role of big tech firms in finance; the development of so-called “stablecoins,” virtual currencies pegged to real assets to minimize volatility; innovation to remove friction in cross-border payments; and the transition away from the London Interbank Offered Rate to new benchmarks.

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