Podcasts about basel committee

Climate change, and policies that governments implement to address it, increasingly have macroeconomic impacts that are relevant for Central banks. But, within their remit, what actions can monetary policymakers take, and what actions should they take? These are questions that Frank Elderson is well qualified to answer. He is a member of the Executive Board of the European Central Bank and Vice-Chair of the Supervisory Board of the European Central Bank, he is co-Chair of the Task Force on Climate-related Financial Risks of the Basel Committee on Banking Supervision, and he was the first Chair of the Network of Central Banks and Supervisors for Greening the Financial System. He tells Tim Phillips about the instruments available to the ECB, the contribution of the NGFS, and the limits of monetary policy in addressing the urgent challenge of climate change.

In the fourth episode of Season 12 of Compliance Clarified, Todd Ehret, senior regulatory intelligence expert, is joined by Henry Engler for an insightful discussion on the Basel III endgame.Basel III was originally developed in response to the financial crisis of 2008- 2009. The Basel Committee for Banking Supervision finalization of Basel III, known as Basel III endgame, introduces extensive changes, especially in the calculation of risk-weighted assets (RWA). These changes will significantly impact business models, compelling banks to reconsider their capital allocation strategies.On July 27th, 2023, the US Federal Reserve and FDIC published their Notice for Proposed rulemaking for Basel III endgame. After months of criticism and discussion, on September 10, the Federal Reserve announced a re-proposal of the much discussed and awaited Basel III Endgame.Henry Engler is a Senior Editor for North America for Thomson Reuters Regulatory Intelligence based in New York. Henry joined Thomson Reuters after a decade in the financial industry in which he has served in roles as an executive or managing consultant overseeing compliance-related and other projects. Henry is also a trained economist and has served as a financial journalist and business strategy executive at Reuters. Henry has edited books on the European Monetary Union and the future of banking and is also the author of "Remaking Culture on Wall Street: A Behavioral Science Approach for Building Trust from the Bottom Up."For more information on the podcast and additional resources, see the links below.Links: Todd Ehret LinkedIn: https://www.linkedin.com/in/todd-ehret-91827264/Henry Engler LinkedIn: https://www.linkedin.com/in/henry-engler-29133/Link to recent article by Henry Engler:U.S. Basel Endgame enters uncertain phase as regulators jostle behind the scenes: https://www.linkedin.com/feed/update/urn:li:activity:7246539010406252546/ Compliance Clarified is a podcast from Thomson Reuters Regulatory Intelligence.Listen to wide-ranging, insightful discussions on all things compliance for financial services firms. We delve into the hot topics of the day, the challenges faced and offer up practical ideas for emerging good practice. We de-mystify regulation and explore the art, as well as the science, of the ever-expanding role of the compliance officer.  Enforcements, digital transformation, regulatory change, governance, culture, conduct risk – anything and everything impacting the compliance function is up for discussion.

In his remarks to the IIEA, Frank Elderson, Member of the Executive Board and Vice President of the Supervisory Board of the European Central Bank, provides an overview of major trends of relevance for the macro financial outlook in Europe. He discusses how these trends are reflected in the ECB's monetary policy and banking supervision priorities. Mr Elderson also reflects upon the specific actions the ECB is undertaking in monetary policy and banking supervision in relation to climate and nature-related risks. Mr Elderson will be joined by Sharon Donnery, Deputy Governor of the Central Bank of Ireland, for a fireside discussion and Q&A which will be moderated by Dan O'Brien, the IIEA's Chief Economist. Frank Elderson is a member of the Executive Board and of the Governing Council of the European Central Bank. He is Vice-Chair of the ECB's Supervisory Board and oversees the ECB's Legal Services. He co-chairs the Task Force on Climate-related Financial Risks of the Basel Committee on Banking Supervision. Mr Elderson previously served as Executive Director of De Nederlandsche Bank (DNB). At DNB he held several senior positions before joining its Governing Board in 2011.Before joining DNB in 1999, Mr Elderson worked as a lawyer specialising in EU competition law.  Sharon Donnery is Deputy Governor at the Central Bank of Ireland for Financial Regulation on 1 July 2022. She is an ex-officio Member of the Central Bank Commission and is a member of the Supervisory Board of the European Central Bank (ECB) and the General Board of the European Systemic Risk Board.

This month on the Global Credit Union Podcast, Michael Lawrence joins us to discuss his new role as Chair of the World Council of Credit Unions' Board of Directors. Lawrence is the Chief Executive Officer of the Customer Owned Banking Association (COBA), the industry body for Australia's credit unions, building societies and mutual banks, a position he's served in since December 2017. He became a WOCCU Director in April 2018, and was elected to serve as Chair of the Board in 2024. Lawrence has over 30 years experience in financial services, primarily gained with AMP Bank and National Australia Bank. Michael discusses why he believes WOCCU's biggest asset is its strength in membership, especially when it comes to advocating for credit unions in front of international financial standard setting bodies, such as the Basel Committee on Banking Supervision. --- Support this podcast: https://podcasters.spotify.com/pod/show/woccu/support

This was the fourth webinar of the series on the revised Core Principles for effective banking supervision.The revised Core Principle 25 emphasizes banks' capacity to handle severe operational risks, including pandemics, cyber threats, and natural disasters. Additionally, the revisions introduce a proportionality approach, aligning regulatory rules and supervisory practices with each bank's systemic importance and risk profile. This ensures that standards are scaled appropriately, from large international institutions to smaller deposit-taking banks, without compromising regulatory strength.The panel discussed the importance of operational resilience for banks in a rapidly changing world, as well as the role of proportionality in effectively scaling standards for different banking sectors.Panelists:Chuchi G. Fonacier, Deputy Governor, Central Bank of PhilippinesJessica Chew, Deputy Governor, Bank Negara MalaysiaModerator:Bill Coen, Former Secretary General, Basel Committee on Banking Supervision; Board Member and Chair, Finance, Audit and Risk Committee, Toronto CentreRead the transcript here. Read their biographies here.https://www.torontocentre.org/

Onze gast deze week is Petra Hielkema, Voorzitter van de European Insurance and Occupational Pensions Authority (EIOPA).    Petra heeft een Europese Master in Recht & Economie en een Master in Ruslandkunde. Ze begon haar carrière als Juridisch Assistent bij Pepper, Hamilton & Scheetz in Kazachstan, en werkte daarna als Senior Consultant bij PWC in Kazachstan. Vervolgens was ze Senior Expert bij het Secretariaat voor Buitenlandse Investeringen van de President van de Kirgizische Republiek. Na een jaar als zelfstandig consultant en vertaler, trad Petra in februari 2007 in dienst bij De Nederlandsche Bank (DNB) als beleidsadviseur. In 2013 werd ze benoemd tot Hoofd Verzekeringsbeleid en in 2015 tot Hoofd van het Expertisecentrum Fit & Proper, waar ze toezicht hield op bestuurders in de financiële sector. In februari 2017 werd ze Directeur Betalingsverkeer en Marktinfrastructuren bij DNB.  Voor haar benoeming als voorzitter van EIOPA bekleedde Petra de rol van plaatsvervangend lid van de Raad van Toezicht van EIOPA en was zij voorzitter van het EIOPA Beleidscomité. Petra heeft meerdere internationale nevenfuncties vervuld, waaronder lid van de Financial Stability Board, het Basel Committee on Banking Supervision BIS, en de ECB Market Infrastructure Board. Doordeweeks woont Petra in Frankfurt en reist de members states af.   Petra Hielkema is 51 jaar, getrouwd, heeft drie kinderen en woont in Arnhem.     *** Op de hoogte blijven van Leaders in Finance? Abonneer je dan op de nieuwsbrief.    ***  Leaders in Finance wordt mede mogelijk gemaakt door EY, MeDirect, RiskQuest, Kayak en Roland Berger.     ***  Vragen, suggesties of feedback? Graag! Via email: info@leadersinfinance.nl en check de website leadersinfinance.nl   *** Eerdere gasten bij de Leaders in Finance podcast waren onder andere: Klaas Knot (President DNB), Robert Swaak (CEO ABN AMRO), Frank Elderson (directie ECB), David Knibbe (CEO NN), Janine Vos (RvB Rabobank), Bianca Tetteroo (CEO Achmea), Jos Baeten (CEO ASR), Nadine Klokke (CEO Knab), Gita Salden (CEO BNG Bank),  Annerie Vreugdenhil (CIO ING), Karien van Gennip (CEO VGZ), Maarten Edixhoven (CEO Van Lanschot Kempen), Jeroen Rijpkema (CEO Triodos), Chantal Vergouw (CEO Interpolis), Geert Lippens (CEO BNP Paribas NL), Simone Huis in 't Veld (CEO Euronext), Nout Wellink (ex DNB), Onno Ruding (ex minister van financiën), Maurice Oostendorp en Martijn Gribnau (CEOs Volksbank), Yoram Schwarz (CEO Movir), Laura van Geest (Bestuursvoorzitter AFM) Katja Kok (CEO Van Lanschot CH), Ali Niknam (CEO bunq), Nick Bortot (CEO BUX), Petri Hofsté (Commissaris, o.a.  Rabobank en Achmea), Peter Paul de Vries (CEO Value8), Barbara Baarsma (CEO Rabo Carbon Bank), Jan van Rutte (Commissaris PGGM, BNG Bank, vml CFO ABN AMRO), Marguerite Soeteman-Reijnen (Chair Aon Holdings), Annemarie Jorritsma (o.a. Voorzitter NVP), Lidwin van Velden (CEO Waterschapsbank), Don Ginsel (CEO Holland Fintech), Jan-Willem van der Schoot (CEO Mastercard NL), Tjeerd Bosklopper (CEO NN NL), Joanne Kellermann (Chair PFZW), Steven Maijoor (Chair ESMA), Radboud Vlaar (CEO Finch Capital), Karin van Baardwijk (CEO Robeco) en Annette Mosman (CEO APG). --> tussen haakjes de functie ten tijde van het interview

This was the third webinar of the series on the revised Core Principles for effective banking supervision.The Basel Committee wants banks to institute a sound risk culture, to maintain strong risk management practices, and to adopt and implement sustainable business models. The revised Core Principles make clear that the assessment of business model sustainability is a key component of effective supervision.The panel discussed how supervisors can assess business models and determine if and how to appropriately intervene. Speakers:Elsie Addo Awadzi, Deputy Governor, Bank of Ghana; Board Member, Toronto CentreWilliam Burn, Managing Director, Supervision Methods, Standards and Controls, Office of the Superintendent of Financial Institutions, CanadaModerator:Clive Briault, Chair, Banking Advisory Board, Toronto CentreRead their biographies here. https://www.torontocentre.org/

This was the first webinar of the series on the revised Core Principles for effective banking supervision.The post-Global Financial Crisis (GFC) period has seen banks continue to build their resilience to financial risks, underpinned by stronger regulatory and supervisory frameworks, including the Basel III standards. The Core Principles for effective banking supervision have been strengthened to reflect key elements of many of the post-GFC reforms introduced by the Basel Committee on Banking Supervision.This panel focused on the experience with macroprudential regulation, supervision, and tools across jurisdictions.Speakers:Nathalie Aufauvre, Secretary General, L'Autorité de contrôle prudentiel et de résolution (ACPR), Banque de FranceBill Coen, Former Secretary General, Basel Committee on Banking Supervision; Board Member and Chair, Finance, Audit and Risk Committee, Toronto CentreModerator:Babak Abbaszadeh, President and CEO, Toronto Centre Read the transcript here. Read their biographies here. https://www.torontocentre.org/

The Basel Committee at 50; listen to Chair Pablo Hernández de Cos and Secretary General Neil Esho discuss the Committee's work – past, present and future, as well as the International Conference of Banking Supervisors. 

Lecture summary: This lecture considers what Josef Kunz termed “swings of the pendulum” in international monetary and financial law and the formal and informal institutions in these related fields. International monetary law exploded in importance after the Second World War with the creation of the International Monetary Fund (IMF) and a global system of managed exchange rates. With the collapse of the Bretton Woods system in 1971 and a decline in capital controls, the IMF evolved from a dominant institution into a peer of central banks and private markets, providing surveillance of the “non-system” of floating exchange rates and assisting in responses to financial crises.By contrast, international financial law, which was of limited importance during the Bretton Woods era, has become a major soft law force in the global financial sector since the Basel Committee on Banking Supervision was created in 1974. The dichotomy between profit maximization and systemic risk at the core of global finance today is overseen and guided by the technocrats of the Basel Committee, the Financial Stability Board and other institutions of international financial law.Today, the pendulums of international monetary and financial law may be reversing again. Armed conflict, rising authoritarianism, growing fragmentation of the global financial system, and a revival of capital controls and other restrictions on capital flows could reinvigorate international monetary law and the IMF. This institution has reimagined itself multiple times already while staying true to its original mandate of safeguarding monetary stability.Michael Waibel is a professor of international law at the University of Vienna. His teaching and writing focus on international law, international economic law, sovereign debt and international dispute settlement. He received the Deák Prize of the American Society of International Law, the Book Prize of the European Society of International Law and a Leverhulme Prize for his research. He is Co-General Editor of the ICSID Reports (with Jorge Viñuales) and Co-Editor-in-Chief of the Journal of International Economic Law (with Kathleen Claussen and Sergio Puig).

Lecture summary: This lecture considers what Josef Kunz termed “swings of the pendulum” in international monetary and financial law and the formal and informal institutions in these related fields. International monetary law exploded in importance after the Second World War with the creation of the International Monetary Fund (IMF) and a global system of managed exchange rates. With the collapse of the Bretton Woods system in 1971 and a decline in capital controls, the IMF evolved from a dominant institution into a peer of central banks and private markets, providing surveillance of the “non-system” of floating exchange rates and assisting in responses to financial crises.By contrast, international financial law, which was of limited importance during the Bretton Woods era, has become a major soft law force in the global financial sector since the Basel Committee on Banking Supervision was created in 1974. The dichotomy between profit maximization and systemic risk at the core of global finance today is overseen and guided by the technocrats of the Basel Committee, the Financial Stability Board and other institutions of international financial law.Today, the pendulums of international monetary and financial law may be reversing again. Armed conflict, rising authoritarianism, growing fragmentation of the global financial system, and a revival of capital controls and other restrictions on capital flows could reinvigorate international monetary law and the IMF. This institution has reimagined itself multiple times already while staying true to its original mandate of safeguarding monetary stability.Michael Waibel is a professor of international law at the University of Vienna. His teaching and writing focus on international law, international economic law, sovereign debt and international dispute settlement. He received the Deák Prize of the American Society of International Law, the Book Prize of the European Society of International Law and a Leverhulme Prize for his research. He is Co-General Editor of the ICSID Reports (with Jorge Viñuales) and Co-Editor-in-Chief of the Journal of International Economic Law (with Kathleen Claussen and Sergio Puig).

Lecture summary: This lecture considers what Josef Kunz termed “swings of the pendulum” in international monetary and financial law and the formal and informal institutions in these related fields. International monetary law exploded in importance after the Second World War with the creation of the International Monetary Fund (IMF) and a global system of managed exchange rates. With the collapse of the Bretton Woods system in 1971 and a decline in capital controls, the IMF evolved from a dominant institution into a peer of central banks and private markets, providing surveillance of the “non-system” of floating exchange rates and assisting in responses to financial crises.By contrast, international financial law, which was of limited importance during the Bretton Woods era, has become a major soft law force in the global financial sector since the Basel Committee on Banking Supervision was created in 1974. The dichotomy between profit maximization and systemic risk at the core of global finance today is overseen and guided by the technocrats of the Basel Committee, the Financial Stability Board and other institutions of international financial law.Today, the pendulums of international monetary and financial law may be reversing again. Armed conflict, rising authoritarianism, growing fragmentation of the global financial system, and a revival of capital controls and other restrictions on capital flows could reinvigorate international monetary law and the IMF. This institution has reimagined itself multiple times already while staying true to its original mandate of safeguarding monetary stability.Michael Waibel is a professor of international law at the University of Vienna. His teaching and writing focus on international law, international economic law, sovereign debt and international dispute settlement. He received the Deák Prize of the American Society of International Law, the Book Prize of the European Society of International Law and a Leverhulme Prize for his research. He is Co-General Editor of the ICSID Reports (with Jorge Viñuales) and Co-Editor-in-Chief of the Journal of International Economic Law (with Kathleen Claussen and Sergio Puig).

Blockchain clarity from Basel: In this episode, Liz Lumley and Amalia Illgner sit down with Yuval Rooz, CEO and co-founder, and Manoj Ramia, general counsel, at Digital Asset regarding the recent standard from the Basel Committee on permissionless blockchains. Hosted on Acast. See acast.com/privacy for more information.

In this episode, Nancy Jacklin sits down with Stefan Ingves, former head of the Central Bank of Sweden and Chairman of the Basel Committee, to talk about the framework for regulation and oversight of global financial markets and the financial institutions that participate in them.

Hello, and welcome to episode 84 of the Financial Crime Weekly Podcast, I'm Chris Kirkbride. It has been a bumper week for financial crime news again this week. Stories across every aspect of financial crime, so let's crack on. As usual, I have linked the main stories flagged in the podcast in the description. These are: Basel Committee on Banking Supervision, Basel Committeepublishes discussion paper on digital fraud (press release).Basel Committee on Banking Supervision, Digital fraud andbanking: supervisory and financial stability implications (Report).British Continuity Institute, Cyber attacks andsevere weather events dominate resilience experts' risk landscapes for 2024.City of London Police, City of LondonPolice marks International Fraud Awareness Week by celebrating force's topachievements of 2023.City of London Police, Ten arrested inpolice crackdown on commercial insurance fraud.Financial Action Task Force, Protectingnon-profits from abuse for terrorist financing through the risk-basedimplementation of revised FATF Recommendation 8.Financial Conduct Authority, Final Notice: MarkAnthony Jensen.Google Cloud, CybersecurityForecast 2024: Insights for future planning.Government Accountability Office, COVID-19: Insights from Fraud Schemes andFederal Response Efforts.Human Rights First, Report AssessesImpacts Of Magnitsky Sanctions (press release).Human Rights First, Magnitsky Month2023: Launch Event.Human Rights First, et al., EvaluatingTargeted Sanctions: A Flexible Framework for Impact Analysis November 2023.Metro Bank, FinancialStatement.National Crime Agency, SARs ReporterBooklet: November 2023.National Cyber Security Centre, NCSC warns ofenduring and significant threat to UK's critical infrastructure.National Cyber Security Centre, Annual Review 2023.Office of Financial Sanctions Implementation, General Licence –London Court of International Arbitration (LCIA) Arbitration CostsINT/2022/1552576.Office of Financial Sanctions Implementation, Details of GeneralLicences issued by OFSI.Office of Financial Sanctions Implementation, OFSI GeneralLicence - INT/2023/3749168.Office of Financial Sanctions Implementation, FinancialSanctions Notice: Counter-Terrorism (International).Office of Financial Sanctions Implementation, Guidance: The UKSanctions List.Office of Financial Sanctions Implementation, UK and US hitHamas leadership with targeted sanctions.Office of Financial Sanctions Implementation, FinancialSanctions Notice: Russia.Office of Financial Sanctions Implementation, FinancialSanctions Notice: Iran (Nuclear).Office of Financial Sanctions Implementation, One Year On: TheOFAC-OFSI Enhanced Partnership.Office of Financial Sanctions Implementation, FinancialSanctions Notice: ISIL (Da'esh) and Al-Qaida.Office of Financial Sanctions Implementation, Ownership andControl: Public Officials and Control guidance.Office of Foreign Assets Control, Treasury SanctionsAdditional Maritime Companies, Vessels Transporting Oil Sold Above theCoalition Price Cap.Public Sector Fraud Authority, Public SectorFraud Authority Annual Report 2022-2023.Serious Fraud Office, Serious FraudOffice launches investigation into suspected fraud at Axiom Ince with nineraids and seven arrests.Serious Fraud Office, SFO securesconviction of solicitor for tipping off client about money launderinginvestigation.TRACE, Bribery Risk Matrix.Transparency International, TowardTransparency in Britain's Offshore Financial Centres.UK Legislation, section 214, EconomicCrime and Corporate Transparency Act 2023.UK Legislation, The Economic Crimeand Corporate Transparency Act 2023 (Commencement No. 1) Regulations 2023 No.1206.US Department of Justice, Three Miamiresidents charged with COVID-19 pandemic relief fraud.US Department of Justice, Three ConstructionPlanning Firm Executives Charged with Bribing San Francisco Dept. of BuildingInspection Employees.US Department of Justice, Former NavyCivilian Employee and Defense Contractor Indicted in Bribery Scheme.US Department of Justice, Three Men ArrestedFor Complex Bank Fraud And Cryptocurrency Laundering Scheme.US Department of Justice, Criminal DefenseAttorney Pleads Guilty to Decade-Long Federal Court Bribery Scheme.US Department of State, CounteringCorruption and Russian Malign Influence in the Western Balkans.US Department of the Treasury, United States andUnited Kingdom Take Coordinated Action Against Hamas Leaders and Financiers.US Department of the Treasury, One Year On: TheOFAC-OFSI Enhanced Partnership.US Securities and Exchange Commission, SEC Announces Enforcement Resultsfor Fiscal Year 2023.

Pushpendra Mehta meets with Paul Galloway, Senior Director, Advisory Services at Strategic Treasurer, and Ben Poole, Writer at CTMfile, to review the latest treasury news and developments. Topics of discussion include the following:   Debt crisis on the horizon: US national debt surpasses $33 trillion Lack of visibility the top challenge for CFOs as FX market uncertainty bites Basel Committee reports on 2023 banking turmoil Virtual card transactions to increase 388% by 2028 thanks to API platforms   

Sir Paul Tucker, research fellow at The Harvard Kennedy School and former deputy governor of The Bank of England, joins Forward Guidance to discuss ideas from his latest book, “Global Discord: Values And Power In A Fractured World Order.”  Tucker tells Jack Farley that China's growing economic might and rejection of liberal values poses a challenge to the U.S.' role as global hegemon, and he details ways to reinvigorate international cooperation during the current period of geopolitical strife. Tucker shares his views on the recent turmoil in the banking system, weighing on Silicon Valley Bank, Credit Suisse, and the acute need for bank resolution that can maintain financial stability while winding down ailing banks. Tucker and Farley also discuss concepts such as the Triffin Dilemma, the offshore (“Eurodollar”) dollar system, and central banks' role as lenders of last resort.  __ “Global Discord” from Princeton Press: https://press.princeton.edu/books/hardcover/9780691229317/global-discord Global Discord on Amazon: https://www.amazon.com/Global-Discord-Values-Power-Fractured/dp/0691229317 __ About Paul Tucker: http://paultucker.me/resources/ About Tucker's work at The Harvard Kennedy School: https://www.hks.harvard.edu/centers/mrcbg/about/fellows/research-fellows#sir_paul_tucker More about today's guest: For over thirty years, Sir Paul Tucker was a central banker, and a member of the Bank of England's Monetary Policy Committee from 2002. He was Deputy Governor from 2009 to late 2013, including serving on the Financial Policy Committee (vice chair) and Prudential Regulatory Authority Board (vice chair). He was knighted by Britain in 2014 for his services to central banking. Internationally, he was a member of the steering committee of the G20 Financial Stability Board, and chaired its Committee on the Resolution of Cross-Border Banks to solve “too big to fail”. Tucker was a member of the board of directors of the Bank for International Settlements, and was chair of the Basel Committee for Payment and Settlement Systems from April 2012. After leaving central banking, Tucker was chair of the Systemic Risk Council from December 2015 to August 2021. He now writes at the intersection of political economy and political philosophy as research fellow at Harvard Kennedy School's Mossavar-Rahmani Center for Business and Government. In addition to “Global Discord,” Tucker is also the author of “ Unelected Power: The Quest for Legitimacy in Central Banking and the Regulatory State” (2018). __ Follow Jack Farley on Twitter https://twitter.com/JackFarley96 Follow Forward Guidance on Twitter https://twitter.com/ForwardGuidance Follow Blockworks on Twitter https://twitter.com/Blockworks_ __ Timestamps: (00:00) Intro (00:55) The Rise Of China Will Have Immense Consequences On A Global Scale (04:44) Shortcomings of Trade Policy and Enforcement (10:41) Downsides of U.S.' Trade Deficit (20:18) The Bretton Woods Regime (21:59) The Triffin Dilemma (26:32) The Eurodollar System (27:31) The Fed's Swap Lines In 2008 (28:49) Importance of Multi-Disciplinary Understanding For Policymakers (31:17) The Debt Ceiling (21:27) Thucydides' Trap (25:57) The Contest Between China and The U.S. Is "Everywhere" (39:26) Document 9 of The Chinese Communist Party (45:29) Inflation (49:37) Regional Bank Failure In The U.S. (55:43) The Takeover Of Credit Suisse By UBS (01:02:49) Defining A "Bailout" As A Use Of Taxpayer Money (01:07:09) Bagehot's Dictum (01:15:31) Credit Suisse Contingent Convertible ("CoCo") Bonds (01:17:55) Tying Geopolitical And Banking Together __ Disclaimer: Nothing discussed on Forward Guidance should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.

Economist and AEI senior fellow Dr. Paul Kupiec joins Rep. Crenshaw to explain the abrupt collapse of Silicon Valley Bank. They break down in layman's terms what caused the collapse, the failures in regulatory and management oversight, how this will affect taxpayers, and options policymakers must weigh to reform and fortify our financial systems from systemic risk. *Editor's note* Rep. Crenshaw and Dr. Kupiec skipped the standard intro and jumped right into the conversation. Please see below for Dr. Kupiec's bio. Paul Kupiec is a senior fellow at the American Enterprise Institute (AEI), where he studies systemic risk and the management and regulations of banks and financial markets. Before joining AEI, Kupiec was an associate director of the Division of Insurance and Research within the Center for Financial Research at the Federal Deposit Insurance Corporation (FDIC). Kupiec was also director of the Center for Financial Research at the FDIC and chairman of the Research Task Force of the Basel Committee on Banking Supervision.  He has previously worked at the International Monetary Fund (IMF), Freddie Mac, J.P. Morgan, and for the Division of Research and Statistics at the Board of Governors of the Federal Reserve System. Kupiec has edited many professional journals, including the Journal of Financial Services Research, Journal of Risk, and Journal of Investment Management. He has a Bachelor of Science degree in economics from The George Washington University and a doctorate in economics — with a specialization in finance, theory, and econometrics — from the University of Pennsylvania.

Frank Elderson is lid van de executive board en vice-voorzitter van de raad van toezicht van de Europese Centrale Bank. Daarvoor werkte hij in verschillende functies voor De Nederlandsche Bank, laatstelijk als directielid. Daarnaast vervulde en vervult hij diverse beroepsactiviteiten. Op dit moment is dat onder andere als co-chair van de Task Force on Climate-related Financial Risks van het Basel Committee on Banking Supervision. Frank startte zijn carrière bij Houthoff advocaten. Frank is afgestudeerd aan de Universiteit van Amsterdam in de Rechten en deed vakken aan de Universiteit van Zaragoza. Daarnaast behaalde hij een LL.M. degree aan de Columbia Law School in New York. Frank is 52 jaar oud, is getrouwd, woont met partner in Frankfurt en heeft twee dochters.   *** Volg Leaders in Finance via de website. Volg Leaders in Finance via Linkedin. *** Op de hoogte blijven van Leaders in Finance? Abonneer je dan op de nieuwsbrief. ***  Vragen, suggesties of feedback? Graag! Via email: info@leadersinfinance.nl  ***   Als je de Leaders in Finance podcast leuk vindt, zou je dan een review willen achterlaten bijvoorbeeld bij Apple Podcasts? Of ons willen volgen en 5 sterren geven bij Spotify. Veel dank, want sommige mensen gaan alleen luisteren naar deze podcast als ze weten dat er genoeg anderen zijn die het leuk vinden!  ***  Leaders in Finance wordt mede mogelijk gemaakt door Kayak, EY, Odgers Berndtson en Roland Berger.   

In this episode of the GRU, we host José María Roldán, former Chairman and CEO of the Spanish Bankers Association (and former Director General of the Bank of Spain) to reflect on his experience as a former regulator and representative of the banking industry and discuss the evolution of global regulatory policy over the last 10 years. We examine with José María the role of the Basel Committee, the finalization and implementation of Basel 3 and the current policy trends in the area of climate risk and crypto markets.

#Bitcoin #TerraUSD #NayibbukeleI'd like to welcome everyone to my new YOUTUBE CHANNELDave's Daily Crypto TakeIn this channel I will be providing you with news on a daily basis about cryptocurrency, bitcoin, blockchain, FIAT. My main purpose is to share UNBIASED news and updates. Ultimately I learn and hopefully you learn while I go on this journey.ARTICLES used in today's video:https://bitcoinist.com/bitcoin-mining-companies-and-their-profitability/Bear Market Outlook: Public Bitcoin Mining Companies And Their ProfitabilityAs the market inches towards what looks to be a bear market, bitcoin investors are looking towards other blockchain avenues to weather what is expected to be a long winter. Public bitcoin miners are one of the avenues that grew to prominence through the bull rallies of 2021. The growth of the value of their stocks during this time had drawn investors to them, and as the market slows down, we take a look at which of these public miners are best positioned to weather a crypto winter.https://www.euronews.com/next/2022/06/01/terra-collapse-regulators-eye-stablecoin-safeguards-and-capital-rules-for-banks-crypto-hol?utm_source=flipboard.com&utm_campaign=feeds_money&utm_medium=referralTerra collapse: Regulators eye stablecoin safeguards and capital rules for banks' crypto holdingsGlobal regulators plan to complete work by the end of the year on how much capital banks should hold to cover crypto assets on their books.Financial watchdogs are trying to catch up with fast-moving developments in crypto markets, whose extreme volatility in recent weeks has caused huge losses for some users.Last June, the Basel Committee on Banking Supervision proposed that banks set aside enough capital to cover losses on any Bitcoin holdings in full.https://bitcoinist.com/block-bitcoin-knowledge-perceptions-pt-1-inclusion/Analyzing Block's “Bitcoin: Knowledge and Perceptions” Pt 1.- Income & InclusionThe new Block report, “Bitcoin: Knowledge and Perceptions,” is a tour de force. A massive online survey turned into surprising data. The phenomenally-designed publication challenges several assumptions that the public has about bitcoin. Block's intention with it is to “provide a resource for decision makers to better understand people's knowledge and perceptions of bitcoin across different geographies, genders, and ages.”https://decrypt.co/101832/doj-sentences-father-son-team-for-laundering-weed-cash-with-btcFather-Son Duo Sentenced for Laundering Cash with Bitcoin in Weed SchemePair convicted of laundering over $100,000 from sales using Bitcoin and dark webUnlicensed company manufactured hash oil and other marijuana productshttps://slate.com/technology/2022/05/bitcoin-el-salvador-nayib-bukele.html?via=rss_flipboardCan El Salvador Save Its Risky Bitcoin Gamble?On June 7, 2021, El Salvador President Nayib Bukele announced an audacious plan: to make Bitcoin legal tender.Anna-Cat Brigida is a reporter who covers Latin America. She lives in Honduras now, but was based in El Salvador when Bukele made his announcement. From there, Brigida says, everything went at full speed. Within 90 days El Salvador had to build its own Bitcoin wallet, install Bitcoin ATMs, and sell the country's population on the idea of Bitcoin—an idea that had been brought there by expat crypto enthusiasts, and embraced by President Bukele. Despite the buildup, m many small businesses are still not able to accept Bitcoin payments. And now the price of Bitcoin has dropped by roughly 37 percent since September. That means El Salvador's holdings of the cryptocurrency have plummeted. https://alternative.me/crypto/fear-and-greed-index/https://coinmarketcap.com/Please subscribe, like, and share so that more and more people can view this content.DISCLAIMER: I will never give any financial advice. And my channel is not considered official Financial Advice. Please do your research before purchasing any cryptocurrency.Thank you very much DaveSupport this podcast at — https://redcircle.com/daves-daily-crypto-take/donations

The Fundamental Review of the Trading Book (FRTB) was initiated by the Basel Committee on Banking Supervision in the years following the 2007-2009 financial crisis with the aim of completely revising the approach of calculating risk-based capital requirements for trading activities. In this podcast, SIFMA's Peter Ryan, Head of International Capital Markets and Prudential Policy, sits down with Joseph Seidel, Chief Operating Officer, to provide a high-level introduction to the FRTB, describing what it was designed to do and why we are hearing more about it now, and explain what is contained in the package of reforms. To view the transcript and more, visit https://www.sifma.org/resources/news/podcast-a-guide-to-frtb-and-why-its-important/.

The pan-governmental regulatory body, The Basel Committee, recently released a draft document which contains a proposal that is sure to change the cryptocurrency landscape. In this episode, I explain what the proposed regulation means for banks who are holding cryptocurrencies, and the opportunities that this brings about for Fintech companies who are not held to the same excessive restrictions. If you found value in this episode, I would really appreciate it if you could leave a review! My mission is to help and support as many FinTech startups as possible, and when you leave a positive review, more people can find this podcast and help their companies! If you are on Apple, just click here to review, select “Ratings and Reviews” and “Write a Review” and tell me what your favorite part of the podcast is.    Today's episode: [01:02] The draft issued by The Basel Committee regarding banks and cryptocurrencies. [02:27] An explanation of capital adequacy requirements that banks are subjected to. [03:11] How banks calculate the amount of reserves of particular assets they need to hold.  [04:02] What The Basel Committee's proposed high-risk categorization of cryptocurrencies means for banks holding cryptocurrencies.  [05:46] Experts' opinions on what the proposal means for the future of banks holding cryptocurrencies. [06:42] Interest that banking customers are showing in cryptocurrencies. [07:10] Partnerships that banks are considering entering into in order to meet their customers' desires for cryptocurrencies. [08:20] Examples of partnerships between banks and other organizations which already exist.  [09:18] My thoughts about the future of this industry, and the opportunities for Fintech companies. [11:15] The workshop I am going to be holding on August 24th.    Show links: Interested in FinTech compliance? – Consider investing in the FinTech Compliance Self-Starter Package!   I would love to invite you to sign up for my newsletter. If you are interested, please click here.     Interested in partnering with Lirium AG and offering crypto services to your customers? – Click here for more information.     Join the "How to open bank accounts for FinTech startups" workshop here.  

Last week Janet Yellen called for rapid action to ensure there is an appropriate US regulatory framework in place for crypto-assets. A month ago the Basel Committee on Banking Supervision said that banks' exposures to crypto should carry the toughest capital requirements. Todays video looks at what consumer protections are in place for crypto investors today. What regulations protect you? What happens if you are hacked, or if a crypto exchange goes bust? What will the SEC do about Ponzi schemes, pump and dumps and rug pulls?Patrick's Books:Statistics For The Trading Floor:  https://amzn.to/3eerLA0Derivatives For The Trading Floor:  https://amzn.to/3cjsyPFCorporate Finance:  https://amzn.to/3fn3rvC Patreon Page: https://www.patreon.com/PatrickBoyleOnFinanceVisit our website: www.onfinance.orgFollow Patrick on Twitter Here: https://twitter.com/PatrickEBoylePatrick Boyle YouTube Channel: https://www.youtube.com/c/PatrickBoyleOnFinance/videos Support the show (https://www.patreon.com/PatrickBoyleOnFinance)

Former Federal Reserve Board Governor Dan Tarullo and Avanti founder Caitlin Long discuss the Basel Committee's proposed guidance on capital rules for crypto. Learn more about your ad choices. Visit megaphone.fm/adchoices

Former Federal Reserve Board Governor Dan Tarullo and Avanti founder Caitlin Long discuss the Basel Committee's proposed guidance on capital rules for crypto. Learn more about your ad choices. Visit megaphone.fm/adchoices

The rise of blockchain and crypto assets are going to profoundly influence the future development of financial services and are naturally of great interest to supervisors. How supervisors decide to regulate crypto will in itself play a major role in how traditional financial services adapt to this new phenomenon. This episode looks at the approaches being taken in the EU, UK, US and some other jurisdictions and how it might impact the transition of crypto into mainstream finance. It also looks at how the recent consultation by the Basel Committee on Banking Supervision on the prudential treatment of crypto exposures will influence banks. Exploring these issues is Yves Longchamp, head of research at SEBA Bank, a Swiss bank providing a bridge between traditional and digital assets and Lavan Thasarathakumar, the regulatory affairs director EMEA at Global Digital Finance, an association advocating for digital assets. See acast.com/privacy for privacy and opt-out information.

In this week's Bloomberg Intelligence podcast featuring our analysts and their research, Mandeep Singh discusses which Internet sector companies are best positioned to outperform. Industry economist Carl Riccadonna says why small-cap margins may be aided by the inflation spike. Brandon Barnes says President Biden's moratorium on new oil and gas leases on federal land has made noise but done little to hurt E&Ps. Sonia Baldeira discusses the promise of "Build Back Better." And Ben Elliott lays out the ramifications of capital rules for Bitcoin and other crypto assets proposed by the Basel Committee. Hosts: Alix Steel and Paul Sweeney. Producer: Tim Herro. The BI Radio show podcasts through Apple's iTunes, Spotify and Luminary. It broadcasts on Saturdays and Sundays at noon on Bloomberg's flagship station WBBR (1130 AM) in New York, 106.1 FM/1330 AM in Boston, 99.1 FM in Washington, 960 AM in the San Francisco area, channel 119 on SiriusXM, www.bloombergradio.com, and iPhone and Android mobile apps.   Bloomberg Intelligence, the research arm of Bloomberg L.P., provides in-depth analysis and data on more than 2,000 companies and 130 industries. On the Bloomberg terminal, run BI . Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Welcome to Finance and Fury. This episode we will continue looking at the crypto markets. In particular, we focus on the regulatory frameworks that have been released by the Bank for international settlements, BIS for short. One division of the BIS - the Basel Committee on Banking Supervision - released a consultation paper this month to provide a framework to every nation's regulator of financial institutions on how to treat cryptocurrencies - Now – the Basel Committee on Banking Supervision is the world's most powerful regulator of banking standards and rules – it gets to decide what capital adequacy banks should focus on, as well as what assets should be classified as capital – if you have been listening for a while, you would have heard me mention this group – they are who APRA, who regulates superfunds and banks in Aus take their directions from So this recent release is meant to provide the framework for banks on how to treat different forms of cryptocurrency on their balance sheets - if they wish to start purchasing crypto The big question of this episode is if this is a major win for cryptocurrencies, as it was initially treated as purely based around market price reactions, or is this something that could actually damage the crypto markets through a financial system takeover? Firstly, it is important to note that this paper does not refer to crypto as a currency – such as the name cryptocurrency would imply – instead, they call them cryptoassets – implying that these are assets for banks or for the financial system to hold or trade these as assets – this off the bat could be viewed as an implied intent, where in the BIS's view, existing cryptos will never be treated as a currency in the mainstream – but I wanted to mention this as I will be using the term cryptoasset throughout most of this episode when it is in relation to this prudential paper – please forgive me in advance as cryptoassets will be mentioned a lot Another important point is that this report specifically states that central bank digital currencies will not fall under this legislative framework – which also implies that this is a serious option that they are looking at and will fall under a different legislative framework – as an actual currency, not a crypto asset – which we will come back to next week Start with the introduction to the BIS report – The BIS have noted that over the past few years, they have seen rapid growth in cryptoassets – with market capitalisation of these assets rising – sitting at an estimated $1.5 trillion But while the cryptoasset market remains small relative to the size of the global financial system – there continues to be rapid developments, with increased attention from a broad range of stakeholders – these stakeholders are some investment banks, since banks like JPM, Goldman and Citi have already launched their own crypto-focused businesses – I find it hard to believe that the BIS would view individuals as stakeholders In this report the BIS brings up the normal rage of concerns with Cryptoassets – including consumer protection, money laundering and terrorist financing, as well as their carbon footprint from the electricity usage But the big point of concern they focus on is that, quote: “The Committee is of the view that the growth of cryptoassets and related services has the potential to raise financial stability concerns and increase risks faced by banks.” In other words, crypto can be destabilising on the financial system – anything that provides some potential competition is destabilising if you are used to monopoly controls – this happens in all aspects of commerce – if you have a monopoly business operating who can fix prices and provide poor services, then a competitor appears, this is destabilising for your business practices, you will lose customers – so what to do? In most cases they simply buy out the competitor or have them shut down If banks were to start trading crypto using derivatives, then this could also pose a risk to the financial system The report also mentions that certain cryptoassets have exhibited a high degree of volatility, and could present risks for banks as exposures increases – these risks include liquidity risk; credit risk; market risk; operational risk (which include fraud and cyber risks); money laundering / terrorist financing risk; and legal and reputation risks – this basically ticks all the risk boxes beyond political/legislative risk – but to the BIS this isn't a concern, as they impose these risks on the market To that end, the BIS Committee has taken steps to address these risks through producing this legislative framework – and they first started looking at this over two years ago, back in March 2019 – where the Committee published an article on the risks associated with cryptoassets – then in December 2019, the Committee published a discussion paper seeking views of stakeholders on a range of issues related to the prudential treatment of cryptoassets – remember stakeholders are entities with direct connections to the BIS – i.e. Central Banks and megabanks It is important to note that mega banks like JPM, Goldman and Citi group are very interest in securitising crypto – anything that can be securities to make a profit off is a bonus in their eyes – remember in the mid-2000s they were creating synthetic contracts off collateral debt obligations – i.e. peoples mortgages to try and made more money than simply what the interest payments could provide to a commercial bank   How does this legislative framework treat cryptocurrencies – or cryptoassets as the BIS refers to them – I won't be covering the minute details for the sake of time, as this report is 20 something pages long – but if you are interested the links will be in the show notes at financeandfury.com – or you can look up Prudential treatment of cryptoasset exposures – but I will be covering the higher level implications of this framework Cryptoassets are defined as private digital assets that depend primarily on cryptography and distributed ledger or similar technology – these digital assets are a digital representation of value, which can be used for payment or investment purposes The prudential treatment of cryptoassets has been guided by three general principles: Same risk, same activity, same treatment: a cryptoasset that provides equivalent economic functions and poses the same risks compared with a “traditional asset” should be subject to the same capital, liquidity and other requirements as the traditional asset. The prudential treatment should, however, account for any additional risks arising from cryptoasset exposures relative to traditional assets. Simplicity: The design of the prudential treatment of cryptoassets should be simple. Cryptoassets are currently a relatively small asset class for banks. As the market, technologies and related services of cryptoassets are still evolving, there is merit in starting with a simple and cautious treatment that could, in principle, be revisited in the future depending on the evolution of cryptoassets. Minimum standards: Any Committee-specified prudential treatment of cryptoassets would constitute a minimum standard for internationally active banks. Jurisdictions would be free to apply additional and/or more conservative measures if warranted. As such, jurisdictions that prohibit their banks from having any exposures to cryptoassets would be deemed compliant with a global prudential standard This is an important point – as the framework is the minimum standards that need to be applied – if a regulator wishes to go above and beyond, or even ban banks for holding crypto, that is well within their rights and would be deemed compliant   In essence – what these principles do – assuming a bank is allowed to trade crypto - is break it down into groups of assets – Group 1 (broken down into A and B) and then Group 2 Group 1 cryptoassets – these fulfil a set of classification conditions and as such are eligible for treatment under the existing Basel Framework (with some modifications and additional guidance). These include certain tokenised traditional assets and stablecoins Group 1 cryptoassets will be subject to at least equivalent risk-based capital requirements based on the risk weights of underlying exposures as set out in the existing Basel capital framework. The cryptoasset either is a tokenised traditional asset or has a stabilisation mechanism that is effective at all times in linking its value to an underlying traditional asset or a pool of traditional assets. In the case of underlying physical assets, they must verify that these assets are stored and managed appropriately All cryptoasset arrangements must ensure full transferability and settlement finality at all times. In addition, cryptoassets with stabilisation mechanisms must ensure full redeemability (ie the ability to exchange cryptoassets for cash, bonds, commodities, equities or other traditional assets) at all times. Group 2 cryptoassets – are those, such as bitcoin, that do not fulfil the classification conditions. Since these pose additional and higher risks, they would be subject to a new conservative prudential treatment These coins are the ones that people would be more familiar with – such as BTC, ETH, ripple, really any coin that isn't a stable coin or a tokenized version of an asset like a share, bond, commodity or currency Each of these groups therefore have different Capital requirements for each banks reserve requirement - Similar to activities related to traditional assets that the banks hold, such as loans, bank activity related to cryptoassets will increase the operational risk charge to a bank within the Basel framework – due to cryptoassets being new and rapidly evolving, there is potentially an increased likelihood that they pose unanticipated operational risks in most cases to the banking system – this is basically saying that they don't know the true risks to the financial system if banks start trading crypto Group 1 cryptoassets will be subject to the requirements set out in the Basel Framework for a normal asset that the banks hold – group 1 is broken up into two categories depending on the classification of the asset Group 1a cryptoassets: tokenised traditional assets – i.e Tokenised traditional assets use an alternative way of recording ownership of traditional assets through the use of cryptography - may be treated as equivalent to a traditional asset for the purpose of calculating minimum capital requirements for credit and market risk - In practice this means that a tokenised cryptoasset is treated the same as - Bonds, loans, commodities, deposits and equities in regards to capital adequacy requirements This is because this form of cryptoasset must confer the same level of legal rights as ownership of these traditional forms of financing, eg rights to cash flows, claims in insolvency etc. For example, a tokenised corporate bond held in the banking book will be subject to the same risk weight as the non-tokenised corporate bond held in the banking book. Similarly, if a bank holds a derivative on a tokenised asset, it will be reflected in the market risk charge in the same way as a derivative on the non-tokenised asset – so in the banks eyes there is no difference in holding a bond or a tokenised version of the bond so – a tokenised cyptoasset can be recognised as collateral for the purposes of credit risk mitigation if it falls within the framework Group 1b cryptoassets: cryptoassets with stabilisation mechanisms that seek to link the value of a cryptoasset to the value of a traditional asset or a pool of traditional assets through a stabilisation mechanism. Cryptoassets under this category must be redeemable for underlying traditional asset(s) (eg cash, bonds, commodities, equities) – things like a stablecoin – so whilst not a tokenised version of the asset, its value is linked to the underlying asset, therefore it is treated relatively similar – however Group 2 cryptoassets – are those that pose unique risks compared with Group 1 - as such are subject to the newly prescribed capital requirement – these are coins like BTC and ETH – anything that doesn't have a tether to the value A risk weight of 1250% is applied to the greater of the absolute value of the aggregate long positions and the absolute value of the aggregate short positions to which the bank is exposed. A 1250 percent risk-weight is the equivalent in banking terminology to a 100% capital requirement So for bitcoin and Ethereum - this would require banks to hold $1 dollar for every $1 in "exposure" to those assets This is in line with the toughest standards for banks' exposures on riskier assets, such as illiquid shares or junk bonds - So if the bank has a $100 exposure in bitcoin this would result in a minimum capital requirement of $100 This also applies to cryptoasset derivatives positions with the potential maximum loss value under a RWA formula – This can be a bit of an issue for the derivative markets – as the RWA is often not the total loss based around the value of the trade, but the cost of the derivative contract – which is often many times smaller – as you are paying for a premium So in summary – if the assets are a tokenised version of an asset, or use an asset as an anchor for their value, then the banks can hold these and it can be treated as part of their capital requirements under the existing Basel III requirements – so banks can use this as part of CAR to against their RWA – under Basel III – you need to hold 8% of your RWA – which in Aus is calculated as 35% of your loans   My take on all of this This could be good news for crypto markets, as they now may see greater recognition by the most powerful financial institution on earth when it comes to providing direction on regulatory frameworks Or, it could be that the financial system sees another way to make some money – so why not take the plunge? There is nothing inheritably wrong with making money – but the way that banks do this, especially in the US is different from you or I purchasing crypto The issue with this is the structure of the financial system – as these banks are TBTF If you buy one BTC for $50k and it drops down to $10k, you have lost $40k which sucks – you will likely feel bad – but you can hold onto this and hope the price recovers But the way a bank like JPM or Goldmans make these trading positions is normally though the use of derivatives on these assets – they only put up a fraction of the funds and cannot simply hold if the prices decline – because of counter party risk – as each bank tries to get out of a position at one point of time – this can create major issues -financial system collapse – If you go bankrupt – then too bad – if a bank goes bankrupt – this becomes your problem – as banks will get bailed out – remember, they are Too big to fail The BIS notes that the extreme price volatility of some of these assets – particularly those in group 2 – have unproven track record of liquidity will make it challenging to hedge positions when providing derivative instruments or when manufacturing investment products that reference crypto assets There are any number of ways that this can explode in the future – here are just three I can think of off the top of my head One – Requirements for additional dollars or bonds to be printed to absorb the increase in the RWA for any bank holding category 2 of the crypto assets – Say BTC does go to $500k - Banks need to increase cash they hold if prices rise – banks don't hold much cash relative to their overall asset and liability position – the balance sheet of banks is basically neutral – they have the same amount of liabilities as assets – so if the price of cryptos increases massively, then banks would need to have central banks expand the money supply further for them to maintain their CAR requirements Reminds me a little bit of the Mississippi bubble – the price of assets increases to the point that people want to cash out – but not for a worthless form of conversion such as the paper money being issued – if cash like the USD continues to be expanded at its current pace – people could request alternative assets destabilising the financial system - could create a major issue down the road Two – asset bubble through bank speculation and derivative practices – The GFC period was bad enough when you have banks speculating on newly created assets – whilst mortgages have been around for hundreds of years, the CDOs were relatively new – Through entering into crypto – banks are entering into a new territory of pure speculation – the buying and selling of cryptoassets by itself isn't the issue – but the speculative practice of derivates and who knows what else they come up with in the years to come could become a major issue for the stability of the financial system – could both collapse crypto markets as well as shares and bonds if economic confidence gets hit Three – Additional risks, such as AML issues – if the banks do not act in good faith, because to be honest they do not have a good history of this – there could be a call by regulators for additional crack downs on crypto So in summary – this legislation Creates a two tiered system for Cryptos – and opens the door for the largest financial entities to begin speculating on what is already a volatile asset For the two tiers - one is seen as good as the assets underlying it - The other – is seen as a very risky asset class So we may also see the rise of tokenised assets and a new wave of how the economy works In addition – it means that you will now be competing with the most sophisticated traders on earth – complex computer algorithms dictating market prices could see larger swings in volatility It goes without say that governments are increasingly focused on issues surrounding cryptocurrencies – especially with some central banks exploring digital currencies – this even came up in the recent G7 meetings this month So we will finish off the crypto series next episode looking at China's Central bank digital currency Thank you for listening to today's episode. If you want to get in contact you can do so here: http://financeandfury.com.au/contact/  https://www.bis.org/bcbs/publ/d519.pdf

Welcome to Finance and Fury. This episode we will continue to look at what is happening in crypto markets. After last episode, we are starting a bit of a mini-series on crypto and digital currencies. This wasn't originally intended but I have been doing more of a deep dive into this topic and there has been some timely news articles that I want to cover. In this series, we will look at a few factors in relation to the crypto markets. Mainly governmental and financial institutional adoption of mainstream cryptocurrencies, like BTC. This series will cover the topics of firstly, el Salvador and other potential Latin American countries accepting BTC as legal tender, then Basel Regulations updates on banks/financial institutions accepting cryptos as assets and the implications this has on markets, and then to finish things off, China rolling out a digital currency that has been in the works since 2014. This may change over the weeks if I uncover any more interesting topics, but at this stage, this is the gameplan. But in today's episode – we will be following on from last week's episode where I give my personal thoughts on crypto currencies I mentioned last week that a few small nations may accept and adopt BTC – good timing – on the same day the episode was released - news that El Salvador was proposing the acceptance of BTC as legal tender came out – in the meantime, this has passed into legislation – so we will start the mini-series looking at this development   Now - El Salvador has become the first nation to formally adopt a cryptocurrency as legal tender and a handful of other Latin American leaders have indicated that they would follow suit – such as Paraguay and Panama  Does this really mark a change in bitcoin's reputation and acceptance on the global stage? Yes and no – Yes for developing/3rd world nations reliant on the US dollar and remittance, but no for any major economy who are standing firm on their own domestic fiat currencies or proposed central bank digital currencies Why has El Salvador made this decision? It isn't as simple as them being the first adopter in a global trend - Let's look at why – as it comes down to the make up of these economies as well as their reliance on not only remittances – El Salvador – small Latin American country wedged between Guatemala and Honduras – the last time there was this much buzz around this region was the football war of 1969, which was fought over a few issues but was accelerated by the FIFA 1970 qualifying matches – but it is a small country with around 7m people living in it But it is considered 3rd world – GDP per capita of $4k v Aus at $55k They are also heavily reliant on the USD – which is another legal tender in the country This is a problem for them as they are a net importer of goods – which means they can run out of USD – in other countries, you can just print more money – but El Salvador cannot do this Like many other Latin American nations - El Salvador's economy is heavily dependent upon remittances – this is a term for funds sent home by citizens working abroad – i.e., an El Salvadorian works in the US and sends money home to family members – then this is remittance Remittances totalled over 20% of their GDP output in 2019 – and had only been growing over time – the economy in El Salvador has been struggling for years – their domestic economic output has struggled due to their internal economic issues, so they have become more reliant on external factors, such as the reliance on inflows of USD into the country to spend – they have also had some major political issues as well which we will come back to later in the episode The Governments move to adopt BTC is a very smart one from their president – when it comes to trying to maximise the remittance levels as well as potentially increase the crypto mining in the country – it works to achieve both ends Currently, remittances are delivered by money transfer services companies like Western Union – these are centralised and highly regulated under financial service regulations – this can be complicated between boarders – some nations disallow the transfer between boarders due to money laundering and counter terrorism financing laws Then to actually make the transfer happen through a money transfer service when it is permitted, it requires an in-person visit to an office and proof of identity for both the sender and receiver In El Salvador - there are around 500 Western Union offices across the country – but most of these are located in populated areas – so some of the poorer individuals living in rural areas of the nation can have limited access Let's have a look at the current state of financial services in El Salvador - around 70% of the population is considered to be unbanked – this means that they lack access to a basic bank account – which is an issue for anyone wishing to save or conduct online commerce – this is why physical cash transactions are facilitated through money transfer services – who needs a bank account when your withdrawals are coming from these services? In addition – due to the governmental history and political risk of the country – many people don't trust financial institutions – let alone have the capabilities to establish a bank account Now – lets contrast this to say a BTC transfer – these allow anyone with a mobile phone and internet access to send or receive funds - Also - BTC could be spent directly on goods and services, just as the US dollar is in El Salvador – all can be done though a wallet – so rather than someone going to Western Union and getting acceptance of the USD transferred to them, then withdraw the cash and then go spend this at their local store, they can simply be transferred BTC and then spend this on goods and services directly at a vendor it does sound a lot easier, doesn't it? – but this is from a first world western perspective – which we will come back to in a minute But first – let's have a look at how this could be great for El Salvador in the interim – If BTC prices continue to rise over time – and the population continue to accumulate more BTC in their wallets – then the prices of goods and services will become deflationary for them – i.e. they can afford to purchase more goods or services for the same amount of BTC As many crypto analysts suggest the price of bitcoin will rise over time – and let's assume that it does – anyone in El Salvador that has BTC stored in their wallets can now afford more goods and services, especially whilst other goods and services are being pegged to the USD – This could potentially create an increase in wealth a consumption power by any lucky Salvadorians who has acquired and holds bitcoin if prices continue to rise If you invest 3 BTC in the country, you can also become a citizen So additional wealth and investment may come into the country Mitigation of environmental concerns around the electricity consumption of cryptocurrency – El Salvador has a large geothermal capacity – Geothermalpower in El Salvador represents 25% of the country's total electricity production and is one of the top ten geothermal energy producers in the world However – they are currently an energy net importer – and it isn't cheap electricity prices So, if the government, or private energy providers invests in further geothermal capacity, then the Government invites mining syndicates to set up in the country to mine crypto at a low electricity cost – could provide a cost-effective method of accumulating coins – plus they can tax it – to help generate more government revenues – this could be a major plus to their economy – but this would take years to implement This all sounds great – and any market innovations and adaptions in my book is something in the right direction – but is that what is going on here? Important to take a step back and think about the functional economy within El Salvador and the use of BTC – as a 3rd world economy - for those of us in the 1st world – we cannot really appreciate what daily life is like to operate in an economy like El Salvador For a functional BTC exchange to emerge – it requires the internet - Recipients of bitcoin realise their funds by connecting to the internet Does El Salvador have wide spread internet access in the country and is this the major method of transaction between consumer and vendor? – World Bank has the data on this –as of 3 years ago, only 34% of the country was using the internet or had access to the internet This right away may seem to be a problem – unless this government program is to give all of the rural or poor population a phone with internet capabilities – how are they going to function under BTC as a monetary exchange? Would be different if this was done in Aus – where around 95% have regular use to the internet – but in a nation without the very infrastructure to help facilitate this adoption, there is a major bottleneck Another major issue is that is appears that businesses are being forced to accept BTC – I am not a fan of this – I personally think it goes against the very core concept of crypto – that is should be voluntarily adopted and based around individual liberty – i.e. to get away from government control and oppression that the monetary system has paced on the population – now a government policy forces all vendors/suppliers in the country to accept BTC Based around the legislation translations I have seen – relying on translation, I cannot speak Spanish – but the government acceptance of BTC as a legal tender requires every single commerce transaction to have to option to be conducted in BTC If they breach this – they are now breaching the nations commerce regulations and suffer consequences It is essentially the equivalent of you going to the farmers markets and wanting to pay in BTC – but they don't have the capabilities to accept this form of payment – I go to a farmers market and around half of the vendors only accept cash – rather than me paying on bank card or credit card – but this is okay – as it is all still AUD – it is just the method of payment which differs – With BTC – there is currently no physical widespread payment mechanism for this – if a merchant doesn't have internet, how does this affect their business? It is a big question – and one that the economy of El Salvador has been given very little time to adjust to – remember – we are not talking about a first world nation – that has the capacity to access internet and sign up to wallets if need be overnight   I personally have never been to El Salvador – but I have been to many other 3rd world nations –and the cultural acceptance of certain technologies and pace of adaption that first world nations have shown shouldn't be projected on any other nation Many of these nations do thing in their own time – and the approach of ‘if it isn't broke don't fix it' can apply to many situation – so the very fact that the government may try to force your local street side vendor in El Salvador, who may not have access to the internet themselves to adopt and accept BTC overnight, let alone within the next 5 years may be a big challenge May put additional stressors on the population and hence the economy Another major issue is the volatility of BTC – I mentioned earlier in the episode that if BTC can continue to appreciate in value, then the price effect will be deflationary, assuming goods and services continue to be prices relative to USD This is where Adopting bitcoin as legal tender is not without its downsides – what is BTC all of a sudden decline in value by a substantial margin – this would have the opposite effect – through reducing the purchasing power of those holding BTC – creating an inflationary pressure BTC can be rather volatile – as an example – at the time of putting this episode together – the price of one BTC if $46k AUD, or $35.7k USD – this represents a decline of roughly 45% from the April high this year Volatility in purchasing power can be an issue – as it affects the individual's ability to make consumption decisions – if you purchasing power can easily change by 10% +/- per day then this can create major uncertainty when it comes to make purchasing decisions, as well as selling decision – Now imagine that someone in El Salvador had received all their savings through remittance in the form of BTC – then over a month the price declined by 45% - this means they have almost half the ability to spend – so what do they do? Can create economic cycles within El Salvador – if BTC crashes – then purchasing power is less – so people won't spend anything for a month or two – and wait and hope until prices rise - if the price does, then you may see a massive spike in consumption, with which supply cannot keep pace, then you get inflationary pressures in USD terms, then if this cycle continues, you may start to see the purchasing power of the BTC decline even further So there are some untested areas of the economy with this case study for a small nation adopting a crypto currency My personal views – I may be completely off – but BTC being accepted as legal tender by the government may simply be a policy that benefits the upper classes of El Salvador more so than many of the poorer individuals who rely on remittance – those with money who are politically connected and already have internet access – such as cartels and political officials, corrupt or not – rather than the poor farmer trying to sell their goods on the street – this take may be cynical of me and I may be missing a major factor of this policy here – but based around the historical behaviour of the El Salvadorian government, as well as the capacity for the average population to accept BTC as a method of payment due to limited internet access, it makes sense to me at lease When you look at El Salvador or many other tiny Latin American nations – historically many of these countries are run as either a banana republic or as a narco-state – where there is an embedded relationship of corruption Who does this policy help? When you look at the fact that the majority of the poor don't have access to the internet and will still be reliant on remittance from money exchange services – it may not be them The very lack of an internet connection in the nation stifles the adoption of the policy – plus puts a major political risk on businesses who are now required to fund to cost of getting a device and internet access to accept BTC payments But from my 1,000 foot view – take this with a grain of salt – as I am providing an analytical assessment without ever setting foot in the country or talking to the population – but the majority of the poor who cannot afford internet connections or smart phones may be left in the dust But those who have internet connections and have large amounts of capital to move can really benefit - Look at the current president and his actions – this is based on news stories, so no idea if they are true or not - The President wanted to secure a $109m loan from the US to militarise their police -the plan was opposed by both opposition parties who had the majority – game over right? Well - he ordered soldiers into the Legislative Assembly to help incentivise legislators to approve the loan until it passed in his favour He has also been accused of negotiating a deal with MS13, the most powerful gang in the country to provide less strict prison conditions if they can lower the number of public murders Gang presence is huge – MS13 and MS 18 are the largest crime syndicates in the country who are responsible for drug and human trafficking trades Who has the most money to flow into El Salvador – a group of local farmers, or a massive criminal network like MS13 This isn't a justification to ban crypto like BTC, as no other currency on earth has seen more criminal deal committed in it than the USD – In summary – If this was a move where all major governments/monetary authorities were going to look at the same process, then this would be great news – but it is in reality a minor occurrence – as the capability to directly accept BTC for commence is lacking in the country, beyond those wealthy elite or drug cartels already set up for this but I hope it just helps to show a different side to the title that most people have read, showing that BTC is being accepted by El Salvador – as there is more to the story once you dig a little deeper I may be wrong, the internet connection and adoption by the local population may occur overnight, but time will tell – Next week – we will look at the evolution of the banking system in relation to crypto – in particular the Basel Committee views on the subject and their recently released guidance to banks around the world on how to treat crypto Thank you for listening to today's episode. If you want to get in contact you can do so here: http://financeandfury.com.au/contact/ 

Today's blockchain and cryptocurrency news Brought to you by ungrocery.com Bitcoin is up slightly at $36,056 Ethereum is up .05% at $2,439 and Binance Coin is down slightly at $343 Aragon Network up 27% Alien punk Cryptopunk brings in $12M at a Sotheby's auction Sustainable supply chain traceability company Circulor raises $14M in a series A round. Silvergate Bank cuts ties with Binance Basel Committee for banking supervision published a consultation imposing strict capital requirements for banks with crypto exposure.

Financial markets have largely dismissed blowout US inflation data, postponing taper talk at the Fed even as global bank regulators at the Basel Committee sideline Bitcoin. Jeffrey Halley, Senior Market Analyst, OANDA, discusses.

Summary: Temperature impact rate of covid spread, but warm weather is not enough; CytoDyn investigated for false statements, insider trading; Bitcoin now recognized as asset class by Basel Committee.

European Banking Authority's Slavka Eley joins host FNA's Isabella Ivanov to discuss her experience as a woman in finance and the role women will play in the industry in the future. ​ Slavka Eley joined the European Banking Authority in 2013 and currently leads the Banking Innovation and Products Unit, responsible for the EBA's work on financial Innovation, digital finance, capital market union and sustainable finance. As part of her current role, she leads the EBA project team on sustainable finance. Additionally, Slavka represents the EBA at European and international working groups, including the FSB Financial Innovation Network, the European Commission's Platform on Sustainable Finance and Basel Committee's Taskforce on Climate Risk. Over the past few years, Slavka has chaired different working groups at the EBA, such as the Network on Sustainable Finance, the Sub-group on Risk Assessment Systems, the mandate to develop the European Supervisory framework and the Subgroup on supervisory Effectiveness and Convergence. Before joining the EBA, Slavka worked for the National Bank of Slovakia as the Head of Supervisory Division for Banks with Advanced Risk Management Approach, responsible for supervising all large banks in Slovakia. Slavka holds an MBA in general management from the City University of Seattle and a Master's degree in Mathematics and Physics from the Comenius University Bratislava. 00:00:00 Introduction 00:00:26 Slavka's Role at EBA and Introduction to EBA 00:02:02: What topics are you focusing on under the Digital Finance work 00:03:31: Education and the background to your current role 00:07:40: Is diversity an issue in the industry anecdotally speaking 00:12:53: Importance of diversity in Technology and finance

Environmental, social governance (ESG) factors and the rapid rise of crypto assets and currencies and blockchain have all become major focal points for supervisors. This is necessitating, in some cases, new regulatory frameworks or adapting existing ones. In this episode, Bryan Stirewalt, the CEO of the Dubai Financial Services Authority (DFSA) shares his insights into how the authority is approaching the regulation of crypto and he also delves into how the global adoption of ESG can be encouraged in a more standardised fashion.Other topics covered include the DFSA's work with international standard setters such as the Basel Committee on Banking Supervision where Mr Stirewalt represents non-Committee members. See acast.com/privacy for privacy and opt-out information.

Carolyn Rogers speaks on how the pandemic affected banks, supervisors and the Basel Committee, presents the Committee’s work programme for 2021/22 and shares her views on diversity in finance.

Did you think you would find drama in a podcast on bank regulations? Think again. Johan Trocmé, Viktor Sonebäck and Kajsa Andersson from Nordea Thematics talk about what Basel IV is, why the Basel Committee for Banking Supervision is involved in regulations to begin with, and what they are hoping to achieve with this finalisation of Basel III. Most importantly, they explore what this will mean for corporate borrowers, based on findings in their recent NOYM report. Disclaimer: All opinions and estimates in this podcast are, regardless of source, given in good faith, and may only be valid as of the stated publication date and are subject to change without notice. The podcast is intended only to provide general and preliminary information to investors and shall not be construed as the basis for any investment decision. This publication or report has been prepared by Nordea Markets as general information for private use of investors to whom the publication or report has been distributed, but it is not intended as a personal recommendation of particular financial instruments or strategies and thus it does not provide individually tailored investment advice, and does not take into account the individual investor’s particular financial situation, existing holdings or liabilities, investment knowledge and experience, investment objective and horizon or risk profile and preferences. The investor must particularly ensure the suitability of an investment as regards his/her financial and fiscal situation and investment objectives. The investor bears the risk of losses in connection with an investment. Before acting on any information in this publication or report, it is recommendable to consult one’s financial advisor.

As financial systems worldwide look forward to a post-pandemic environment, are bank supervisors setting clear expectations today for their supervised institutions? This Toronto Centre podcast reviews the importance of “Sticking to the Basics” of effective financial sector supervision. Bill Coen, Toronto Centre board member and former Secretary General of the Basel Committee on Banking Supervision, catches up with longtime colleague, Tom Dujenski, an experienced adjunct professor, financial services consultant and retired senior US bank regulator.

Pat Parkinson is a senior fellow at the Bank Policy Institute and a 30-year one veteran of the Federal Reserve system, where he served as director of the Division of Banking Supervision and Regulation. During that time, he was also a member of the Basel Committee on Banking and advised Alan Greenspan, Ben Bernanke, and Tim Geithner on financial market issues. Pat joins Macro Musings to discuss the treasury market meltdown in March 2020, as well as what we can do moving forward to avoid this issue from happening again. Specifically, David and Pat outline the implementation of a standing repo facility, changes to the supplemental leverage ratio, expanded central clearing, and increased data collection as possible solutions to this problem.     Transcript for the episode can be found here: https://www.mercatus.org/bridge/tags/macro-musings   Pat’s BPI profile: https://bpi.com/people/pat-parkinson/   Related Links:   *Enhancing Liquidity of the U.S. Treasury Market Under Stress* by Nellie Liang and Pat Parkinson https://www.brookings.edu/research/enhancing-liquidity-of-the-u-s-treasury-market-under-stress/   *US Treasuries: The Lessons from March’s Market Meltdown* by Colby Smith and Robin Wigglesworth https://www.ft.com/content/ea6f3104-eeec-466a-a082-76ae78d430fd   David’s blog: macromarketmusings.blogspot.com David’s Twitter: @DavidBeckworth

“What can be measured, can be managed”   Paul Hiebert, Head of Systemic Risk & Financial Institutions Division at the European Central Bank, joins Kopi time to talk about climate change and financial risks. He goes over the key initiatives undertaken by various Euro area institutions to produce and disseminate better data, standards, and analysis so that private and public sector can prepare for the impending high cost of dealing with climate change. Paul shares estimates of relevant long-term potential loss in GDP and the annual cost of remedial measures that are now being used for planning and regulation purposes. He then goes over key initiatives by regulators and governments to estimate climate change related credit risk on the balance sheet of the financial sector, work in progress to build the capacity to price such risks, and simulation and scenario analysis to quantify the need for further investment. Paul also sheds light on initiatives beyond the Euro Area, such as by the Network for Greening the Financial System, the Financial Stability Board, and the Basel Committee on Banking Supervision. See omnystudio.com/listener for privacy information.

Following the 2007-9 global financial crisis - the Basel framework underwent significant revisions. It's partly thanks to these changes that banks entered the Covid-19 pandemic induced crisis in a robust condition. Nonetheless, it remains unclear how deep and prolonged the current downturn will be and how many bad loans banks will notch up in the process. Therefore, could there be further revisions to the Basel framework? Particularly if the current crisis turns out to be particularly bad and badly damages the financial sector? Also, the world is far more divided than it was on the eve of the last financial crisis. How might this impact supervisory cooperation, deliberations within the Basel Committee and adherence to the Basel framework. And lastly, what impact might sustainable finance and climate change have on prudential frameworks? Addressing these topics is Bill Coen, former secretary general of the Basel Committee on Banking Supervision and chair of the IFRS Advisory Council. He also sits on the board of directors of the Toronto Centre, a global non-profit organisation that provides leadership training in financial supervision. Also, sharing his views is Paul Sharma, a Managing Director at Alvarez & Marsal and was a Deputy Head of the Prudential Regulation Authority and a former member of the Basel Committee See acast.com/privacy for privacy and opt-out information.

This week, our hosts sit down with returning guest Harpal Gill, PeerNova’s Director of Business Development in Europe, to discuss the importance of effective data governance for BCBS 239 compliance.Harpal offers his expertise in answering the following questions:Prior to the 2008/2009 crash, what was missing in terms of regulation? What exactly is BCBS 239 (Basel Committee for Banking Supervision Standard 239)?What are some of the key challenges financial institutions face in BCBS 239 compliance?How does an effective data governance framework ensure enterprises comply with BCBS 239? As an active data governance tool, how can PeerNova’s Cuneiform Platform help enterprises comply with BCBS 239?

We discuss the recent Basel Committee report on Open Banking and APIs with lead author Linda Jeng.

Bill Coen, former Secretary General of the Basel Committee on Banking Supervision, discusses his experience on the Basel Committee as he led the effort to develop and define the Committee's strategy with the ultimate objective of reaching consensus on global guidelines, standards, and best practices. As Secretary General and career at the Basel Committee, Bill played an instrumental role in reshaping the regulation of the global financial system, particularly after the global financial crisis. Bill also highlights some of the critiques on the Basel Committee. Want to contact the show? Email reiners@law.duke.edu Interested in learning more about issues in financial regulation and policy? Check out the Global Financial Markets Center's blog: https://sites.duke.edu/thefinregblog/ You can learn more about the Global Financial Markets Center by visiting our website: https://law.duke.edu/globalfinancialmarkets/

William Coen recently left his job of Secretary General of the Basel Committee on Banking Supervision. In this episode of BISness, he looks back at his years at the helm of the global standard setter for the prudential regulation of banks.

In today's episode, we talk about North Korean Cryptocurrency Hacks, globalization in the Web 3.0 era, the Basel Committee's influence on the future of the blockchain industry, and the Recently passed Article 13's potential to introduce censorship into a decentralized ecosystem. WELCOME TO THE STATE OF THE INDUSTRY: This is your podcast for diving into everything blockchain, DLT, and decentralization. Learn directly from the innovators and creators who are building the future in front of our eyes. Powered by the Decentralized Education Nexus. #TheDEN #Blockchain #DLT #Education Subscribe for more, its free ✅ ✗ MEET THE HOSTS: ➤[Chris Gaines | Co-Founder & CMO @ The DEN] https://www.linkedin.com/in/chrisgaines-theden/ ➤[Svet Sedov | Angel Investor, Entrepreneur @ FRIISCO] https://t.me/joinchat/I5eQ-A6FSC2vXg_PNgFwJw ➤[Jason Martin | Advisor @ The DEN] https://www.linkedin.com/in/jason-a-martin-b471057a/ ✗ Listen to/watch more ("State of the Industry"); here: ➤YouTube: https://www.youtube.com/watch?v=vey_bgMdYWc&list=PLpL5lBiaofD8Y-lpdw2iB4A7ad9YMIyI2 ➤Apple Podcasts: https://itunes.apple.com/us/podcast/state-of-the-industry/id1440198716?mt=2 ➤Spotify: https://open.spotify.com/show/6hjiANM5uhu2KKMX1EB8Eb ➤Anchor: https://anchor.fm/stateoftheindustry ✗ JUMP-START YOUR BLOCKCHAIN CAREER: Learn more about our free courses and apply for our Blockchain Developer, Hyperledger Fabric, and Business Leader Bootcamps here: http://bit.ly/blockchainattheden ✗ STAY CONNECTED: www.facebook.com/dennexus www.twitter.com/dennexus www.instagram.com/dennexus https://medium.com/the-decentralized-education-nexus ✗ BLOCKCHAIN RESOURCES: For more resources and guides on Blockchain development and decentralization, visit: http://bit.ly/den-resources Get your questions answered and interact with the community on our Telegram channel here: http://bit.ly/dennexus-telegram ✗ WHAT IS THE DEN? The Decentralized Education Nexus is a community of creators and innovators who are willing to share their knowledge and expertise in distributed systems as the technological landscape continues to evolve. Our mission? To become the de facto vehicle for widespread adoption and explosive growth of the Blockchain and Distributed Ledger Ecosystem. With a focus on hands-on, career-transformative education and real world solutions, we provide courses, bootcamps, and events to share our vision for the Decentralized future.

#CryptoCorner: Crypto Could "Raise Financial Stability Concerns" According to Basel Committee, Coinbase Pro Adds XLM Support

Today's cryptocurrency and blockchain news. Stellar Lumens Listed on Coinbase Pro Basel Committee Warns Banks About Crypto Risk Tether Untethered from Dollar?

#CryptoCorner: Crypto Could "Raise Financial Stability Concerns" According to Basel Committee, Coinbase Pro Adds XLM Support

Jesse McWaters speaks about analyzing the impact of blockchain technology on industry and society at the World Economic Forum, disruption vs. collaboration in the financial sector, why blockchain technology gives people a license to image a future without constraint, the role of established financial institutions in the cryptoasset space, why the road of blockchain entrepreneurs differs from those in the FinTech space, how the blockchain narrative changed in recent years, blockchain regulation, checks and balances, code of conduct in ICOs, why blockchain technology might become less of a binary idea in the future, and much more. Jesse leads the World Economic Forum's exploration of fintech and financial innovation where he works with financial executives, regulators and a global network of innovators to analyze the implications of open banking, blockchains, digital identity, and AI on the financial sector and society. Jesse is a frequent speaker and media commentator on CNBC's Closing Bell, in the Financial Times, The Wall Street Journal, Wired, and the New York Times and he has presented his analyses to financial institutions and global policymakers such as the Financial Stability Board, the Basel Committee on Banking Supervision, the Federal Reserve Board, the Peoples Bank of China, the European Parliament, and the FDIC. Jesse McWaters: https://www.weforum.org/agenda/authors/jesse-mcwaters/, https://twitter.com/rjmcwaters Previous interview with Jesse for my blockchain documentary (2017): https://blockchain-documentary.com/jesse-mcwaters-wef/ The Blockchain and Us newsletter To stay up to date about what blockchain pioneers, innovators and entrepreneurs from all around the world think about the future of this space, sign up for the newsletter.

Glenn Hubbard, the dean of Columbia University Business School, discusses Richard Thaler's "great" Nobel Prize win. Andreas Dombret, a board member at Deutsche Bundesbank, says the Basel Committee is moving closer and closer to a deal. Yale University's Robert Shiller says behavioral economics is the most important thing to happen in economics in the last 20 years. Finally, Randall Kroszner, a professor of economics at the University of Chicago's Booth School of Economics, says adding humanity into economics has been a transformation in recent years.  Learn more about your ad-choices at https://www.iheartpodcastnetwork.com

Glenn Hubbard, the dean of Columbia University Business School, discusses Richard Thaler's "great" Nobel Prize win. Andreas Dombret, a board member at Deutsche Bundesbank, says the Basel Committee is moving closer and closer to a deal. Yale University's Robert Shiller says behavioral economics is the most important thing to happen in economics in the last 20 years. Finally, Randall Kroszner, a professor of economics at the University of Chicago's Booth School of Economics, says adding humanity into economics has been a transformation in recent years. 

The 2008 global financial crisis exposed the vulnerability of banks that do not hold enough capital. The Basel Committee on Banking Supervision has since revised capital requirements for banks. In this podcast, we ask IMF economist Lev Ratnovski, how much capital banks need to hold to avert another crisis. Contributors: Lev Ratnovski, Senior Economist in the IMF’s Research Department.

[[{“type”:”media”,”view_mode”:”media_large”,”fid”:”1576″,”attributes”:{“alt”:””,”class”:”media-image”,”height”:”173″,”style”:”display: block; margin-left: auto; margin-right: auto;”,”width”:”480″}}]] The Basel Committee’s proposed consultation on the Fundamental Review of the... The post BCBS 265 – the Impact on Treasury Operations and Risk appeared first on Derivsource.

Martin Arnold is joined by Daniel Schäfer for the latest at Barclays, which has shifted £400bn of assets out of its investment arm, and has come under scrutiny from the UK Serious Fraud Office over a 2008 cash call that saw Qatari investors paid fees equivalent to more than 7 per cent of the capital invested. Sharlene Goff takes a look at Standard Chartered, whose protest vote last week over pay proposals was the biggest of its kind this year. Finally, Sam Fleming has news that banks are bracing for a new fight over capital requirements as the Basel Committee moves to tighten regulations on risks linked to interest rate shocks See acast.com/privacy for privacy and opt-out information.

Mark Carney began his new role at the helm of the Bank of England last week. In this week’s podcast, Patrick Jenkins, banking editor, is joined by Chris Giles, economics editor and Brooke Masters, chief regulation correspondent, to review Mr Carney’s first few days in the job, and what his top priorities will be as governor. Also discussed is the Basel Committee on Banking Supervision’s latest blow to the credibility of the main measure of bank safety, core tier one capital ratios, and Tobias Buck, Madrid bureau chief, joins to examine why Spanish banks are preparing for Basel III by attempting to get deferred tax assets changed into tax credits See acast.com/privacy for privacy and opt-out information.

This episode contains the audio of an Australian Securitisation Forum lunch series panel held on 28 February 2013 at Ernst & Young in Melbourne. The subject was the Basel Committee on Banking Supervision's consultative document on revisions to the securitisation framework issued in December 2012. Submissions are due by 15 March 2013. A panel made up of David Addis, from Cygnus Advisory and Dennis Craig from National Australia Bank discussed the consultative document.

Episode 2 contains the audio of an Australian Securitisation Forum evening series panel held on 12 February 2013 at Clifford Chance in Sydney. The subject was the Basel Committee on Banking Supervision's consultative document on revisions to the securitisation framework issued in December 2012. Submissions are due by 15 March 2013. A panel made up of David Addis, from Cygnus Advisory, Stephen Maher, from Macquarie Bank and Dom Di Gori from ANZ discussed the consultative document.

After talking about human failures and foibles in the last lecture, this lecture is concerned with regulation to minimize the impact of human errors. Professor Shiller outlines five different levels of regulation: Regulation on the firm level, on the level of trade groups, on the regional, the national, and the international level. Concerning the first level, he emphasizes the role of the board of directors as the regulators of a company, its duties of care and loyalty, and its responsibilities in the face of tunneling. On the level of trade groups, Professor Shiller presents the history of the New York Stock Exchange from the signing of the Buttonwood Agreement until today. The subsequent description of regional regulation centers on Blue Sky laws during the progressive era of the U.S. in the late 19th and early 20th century. On the national level of regulation, he covers the founding days of the Securities and Exchange Commission, its regulation of hedge funds, as well as its efforts against the trading of insider information and stock price manipulation. He complements his coverage of national regulation with the regulatory efforts in the aftermath of the financial crisis from 2007-2008, i.e. the creation of the Financial Stability Oversight Council and of the Consumer Financial Protection Bureau by the Dodd-Frank Act from 2010, paired with the European efforts in the course of the European Supervisory Framework, also from 2010. With respect to the fifth and final level of regulation - international regulation - Professor Shiller talks about the Basel Committee on Banking Supervisionand the G-20. Complete course materials are available at the Open Yale Courses website: http://oyc.yale.edu This course was recorded in Spring 2011.