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Friday, 27 May 2016

Regulation

Puerto Rico rescue bill advances

IFR 2135 28 May to 3 June 2016

US lawmakers last week backed a plan to help Puerto Rico escape crippling debt and expand its economy, a move that could shortly put a rescue before the House of Representatives.

SWIFT plans new tools to spot cyber theft

IFR 2135 28 May to 3 June 2016

The SWIFT secure messaging service, which banks use to transfer money around the world, last week outlined areas in which it hopes to improve security, following attacks in which hackers stole millions of dollars from banks in Bangladesh and Ecuador.

The Commodity Futures Trading Commission building in Washington, DC

CFTC closes cross-border loophole

IFR 2135 28 May to 3 June 2016

The US derivatives regulator has adopted a final rule on margins for uncleared swaps that cross national boundaries, as it aims to shield the country from risks created when offshore deals go sour.

European Central Bank (ECB) headquarters

ECB credit buying to start small, betting on issue boom

25 May 2016

(Reuters) The European Central Bank will aim to start small when it begins buying corporate debt in June, seeking first to lure new issuers and then slowly raise the monthly pace of purchases to €5bn–€10bn, several central bank sources have told Reuters.

Citi sign

Citigroup to pay US$425m over attempted benchmark manipulation

25 May 2016

(Reuters) - Citigroup and its affiliates have agreed to pay a collective US$425m to resolve civil charges the bank attempted to manipulate several key benchmarks, including the US dollar ISDAFIX, the Yen Libor and the Euroyen TIBOR, the Commodity Futures Trading Commission said.