The European Commission issued two legislative proposals aimed at (i) ensuring citizens and businesses can continue use of euro banknotes and coins and (ii) establishing a legal framework for a possible "digital form of the euro that the European Central Bank may issue in the future, as a complement to cash."
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The House Financial Services Committee considered bills related to Russian sanctions and testimony by Treasury Secretary Janet L. Yellen on the current state of the international financial system.
The Federal Reserve Board determined that the National Bank of Pakistan, through its New York branch, must take affirmative action to correct AML deficiencies.
Federal Reserve Board Vice Chair for Supervision Randal K. Quarles highlighted measures to promote efficiency in the financial system after the "Great Financial Crisis."
A Federal Reserve Board, FDIC, OCC, SEC and CFTC final rule amending the "covered funds" provisions of the Volcker Rule was published in the Federal Register.