The Federal Reserve Board has announced the appointment of four new members to its Community Depository Institutions Advisory Council (CDIAC). The Board also disclosed the names of the council president and vice president for 2024.
The European Central Bank (ECB) has announced the release of experimental statistics on Distributional Wealth Accounts (DWA). These statistics provide quarterly household distributional information in alignment with national accounts.
Belize Bank Limited has been granted an interim injunction against the enforcement of Practice Direction No. 7 – Regulation of Fees and Charges (PD No. 7) by the Central Bank of Belize. This injunction temporarily suspends the implementation of PD No. 7 until a court ruling is made on its applicability.
The Federal Reserve Board has unveiled the appointment of chairs and deputy chairs for the 12 Federal Reserve Banks for 2024, along with updates to the board’s website.
The Central Bank of Solomon Islands (CBSI) has announced an update to the Solomon Islands’ $100 and $50 banknotes, incorporating a new security feature in the form of a stripe. This enhancement is aimed at combating the increasing instances of counterfeiting and will be integrated into the latest reprints of these banknotes.
The European Central Bank (ECB) has revealed plans to carry out a cyber resilience stress test on 109 directly supervised banks in 2024. The primary objective of this test is to assess the banks' capacity to respond and recover from a potential cyberattack.
The Federal Reserve Bank of New York has announced the implementation of a new common policy for bank records disclosure by the 12 federal reserve banks. The objective of this policy is to enhance transparency by simplifying and standardizing the process of information requests from the public and news media.
The Hong Kong Monetary Authority (HKMA) has announced plans to initiate its Interbank Account Data Sharing (IADS) pilot program in the early part of next year. The scheme will allow customers, upon their agreement, to share their bank account data securely and efficiently with other banks.
The Reserve Bank of New Zealand has issued a warning to Citibank NZ for failing to provide originator information in thousands of international wire transfers to beneficiary institutions. This is a requirement under the Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) Act 2009.
The European Central Bank (ECB) and the European Systemic Risk Board (ESRB) have released a report titled "Towards macroprudential frameworks for managing climate risk." The document delves into the potential risks that climate change poses to the financial system of the European Union (EU), and proposes a macroprudential strategy aimed at mitigating these impacts on the sector.
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.