Basel Refrains from New Standards, Advances Crypto Consultation
The Basel Committee’s release on its Friday meeting signalled continuing confidence in bank resilience and ongoing queries into why banks failed to make use of the buffers Basel again reminds them to draw under stress.

G7 Finance Ministers Endorse Climate, Beneficial Ownership Disclosures
As part of a major new stand on climate-risk mitigation and disclosures, the G7 financial-ministerial communique now supports mandatory climate disclosures.

NGFS Updates Scenarios, But Stress Testing Remains TBD
In concert with endorsement from the G7 finance ministerial, the central banks’ Network for Greening the Financial System (NGFS) today released a new set of climate scenarios updated to account for national commitments to reach net-zero carbon emissions and include more granular country-level data.

Bank of England Goes Fast on Stablecoin Rules, Slow on CBDC
Anticipating a Federal Reserve CBDC discussion draft later this summer, the Bank of England today not only laid out its current CBDC thinking, but also that germane to broader digital-currency initiatives.

Daily060721.pdf