Crypto-assets and markets must be subject to effective regulation and oversight equal to the risks they pose domestically and internationally.
Browsing: International regulatory coordination
The International Banking Federation—of which ABA is a member—filed a comment letter last week with the Organization for Economic Cooperation and Development regarding the international taxation of financial institutions.
Financial counterterrorism expert discusses what Russia’s invasion of Ukraine and sanctions mean for U.S. banks.
As part of global efforts to acknowledge the large and growing role of digital activities in the economy, the Organization for Economic Cooperation and Development’s 139-member “Inclusive Framework” today endorsed an agreement on how large multinational firms allocate their profits in different tax jurisdictions.
ABA joined a broad coalition of advocacy organizations representing a range of industries in a letter to the Departments of Justice, Commerce and State and the Office of the Director of National Intelligence yesterday requesting that they convey to European regulators that “U.S. companies cannot be expected to explain U.S. government surveillance practices as they defend their use of [standard contractual clauses] for commercial [data transfers].”
In a follow-up to an April letter discussing COVID-19-related challenges regarding tax withholding, the American Bankers Association, the International Banking Federation and several other trade associations wrote to the Organization for Economic Cooperation and Development and the European Commission seeking additional relief for administering tax regulations for cross-border transactions.
The International Banking Federation has elected ABA President and CEO Rob Nichols to a two-year term as chairman of the organization.
The global financial system is resilient, with large banks much better capitalized, less leveraged and more liquid, according to the Financial Stability Board’s report on post-crisis reforms issued today.
With “nearly all” the post-financial crisis policy changes completed, the Financial Stability Board is looking to new vulnerabilities to the global financial system, FSB Chairman Randal Quarles said yesterday in Hong Kong.