The Financial Stability Board (FSB) has disclosed the publication of its "toolkit for financial authorities and financial institutions for their third-party risk management and oversight." This toolkit, a product of months-long consultations with members of the financial sector, aims to address the growing dependency on third-party providers within the industry.

The Central Bank of the Republic of Türkiye has announced that the E9 series version VII banknotes in denomination of TRY 200 will enter circulation on December 7, 2023. This decision aligns with Law No. 1211.

The Central Bank of Kuwait (CBK) has published its annual report for the fiscal year 2022-2023, providing insights into significant banking, economic and monetary developments over the period. The report also outlines the bank's efforts to maintain stability and includes an auditors' report on the bank's financial statements.

The Central Bank of the United Arab Emirates (CBUAE) recently revealed the winners of COP28 UAE TechSprint, a competition aimed at accelerating the development of sustainable finance solutions that can have a positive effect on global climate change. The event was held in collaboration with the COP28 Presidency, the Bank for International Settlements, and the Emirates Institute of Finance.

The Hong Kong Monetary Authority (HKMA) has embarked on an initiative that is set to improve the alert mechanism for Faster Payment System (FPS) users through the introduction of a notification message, designed to flag potential fraud risks before transactions are approved using proxy IDs. This new feature is referred to as the FPS Suspicious Proxy ID Alert.

A new report from the Bank of Canada evaluates Canadians' perspectives on a potential digital version of the Canadian dollar. The feedback provided by Canadians and other stakeholders indicates a greater number of concerns than excitement about the idea.

The House Financial Services Committee announced that Rep. Andy Barr (KY-06), chairman of the Financial Institutions and Monetary Policy Subcommittee, and Rep. Bill Huizenga (MI-04), chairman of the Oversight and Investigations Subcommittee, are demanding that Martin Gruenberg, Federal Deposit Insurance Corporation (FDIC) chair, recuse himself from the Committee on Financial Services’ independent investigation into alleged sexual harassment, misogyny and other misconduct at the agency.

The Central Bank of Ireland (CBI) announced a new report that highlights the resilience of Ireland’s economy in the midst of persistent inflation. However, it warns that the economy is still adjusting to high interest rates, and additional inflationary shocks may be down the road. The report was published in response to rising global economic concerns and increasing financial risks. Opening up on the contents of their recent report,

In a letter to Federal Deposit Insurance Corporation (FDIC) Acting Inspector General Tyler Smith, U.S. Sen. Sherrod Brown (D-OH), chairman of the Senate Committee on Banking, Housing and Urban Affairs, and nearly a dozen members of the Senate Banking and Housing Committee demanded an independent investigation into reports alleging the agency has failed to address a toxic culture of sexual harassment and misconduct, discrimination and misogyny. The formal request was sent in response to allegations raised in several media reports over recent years.

The Australian Securities and Investments Commission (ASIC) and the Reserve Bank of Australia (RBA) issued a joint announcement to acknowledge an announcement made by the Australian Stock Exchange (ASX) on its product-based solution design to replace the Clearing House Electronic Subregister System (CHESS). This announcement is pivotal in the financial sector as it signifies a significant change in stock exchange systems.

European Central Bank President Christine Lagarde on Friday, November 17 proposed the creation of a European equivalent to the U.S. Securities and Exchange Commission to advance the European Capital Markets Union (CMU). In a speech at the European Banking Congress, she urged a shift in Europe's financial strategy to address the continent's upcoming economic challenges.

During her prepared remarks at the 2023 Freedman's Bank Forum on October 25, Secretary of the Treasury Janet L. Yellen underscored the significance of creating a fair and inclusive economy. "All of us here know that the U.S. economy has not historically worked well for Black,...

Assistant Secretary for Financial Institutions Graham Steele delivered remarks before the Amazon Web Services (AWS) Gov2Gov Summit on Responsible Artificial Intelligence Innovation for the Public Sector. In his speech, Steele discussed the significant role of artificial intelligence (AI) in the financial services sector and highlighted both the opportunities and challenges associated with its adoption.

On Oct. 25, 2023, the Biden-Harris administration and the Economic Opportunity Coalition (EOC) announced a landmark commitment to bolster community lenders. According to a press release, the EOC, which consists of nearly 30 private sector companies and foundations, aims to secure $3 billion in deposits for community development financial institutions (CDFIs) and minority depository institutions (MDIs), community lenders with a proven record of reaching low-income, rural, and other underserved communities.

Reserve Bank of India (RBI) Deputy Governor Shri M. Rajeshwar Rao is calling for global cooperation in managing climate risks and promoting sustainable finance at an IMF panel discussion, urging central banks to take proactive measures.

U.S. Sen. Sherrod Brown, D-Ohio, and colleagues recently urged the Federal Reserve to reevaluate big bank merger policies, emphasizing a review on financial stability impact amid failures of several prominent banks.

In a recent address, Federal Reserve Bank of Richmond President Tom Barkin offered insights into the possibility of a recession, highlighting resilience in the face of inflation and economic challenges.

The Federal Reserve recently unveiled the FedNow® Service, an instant payment system that offers customers and businesses immediate money transfers anytime and on any day.

The House Financial Services Subcommittee on Financial Institutions and Monetary Policy on July 20 conducted the hearing "Climate-Risk: Are Financial Regulators Politically Independent?" Republican legislators introduced four bills intended to limit federal regulators' ability to connect climate change to financial security.

During a recent address, Adeyemo highlighted the transformative potential of State and Local Fiscal Recovery Funds (SLFRF) for workforce development. He emphasized the urgency of utilizing the funds and the nearing deadline.