In a joint letter to the Basel Committee on Banking Supervision, ISDA, the Institute of International Finance, and the Global Financial Markets Association, among others, requested reconsideration of the 2014 standardized approach for measuring counterparty credit risk exposures.
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Federal Reserve Board Vice Chair for Supervision Randal K. Quarles questioned the value of developing a U.S. central bank digital currency, considering that (i) the U.S. dollar payment system operates very well, (ii) the potential benefits of a Federal Reserve CBDC are ambiguous and (iii) the development of a CBDC may pose substantial risks.
Shenzhen, an economically emerging city in southern China, issued 10 million digital yuan (or approximately $1.47 million) in a pilot program aimed at promoting the new form of currency.
The Bank of Japan reported that it will begin to "explore general purpose Central Bank Digital Currency in a more concrete and practical way by conducting experiments, rather than confining itself to conceptual research as before."
Technical corrections to an OCC, Federal Reserve Board and FDIC standardized approach to calculating the exposure amount of derivative contracts under the "regulatory capital rule'" were published in the Federal Register.