IMF Rolls Out New Role for Itself, New Digital-Currency Principles
The IMF today announced a sweeping new digital-currency policy initiative designed not only to give itself a new job setting global policy in this already crowded arena, but also to focus on financial-inclusion considerations.

HFSC Advances LIBOR Fix as FRB, OCC Issue Transition FAQs
Continuing its mark-up, HFSC today considered Rep. Sherman’s (D-CA) bill (H.R. 4616) to provide federal clarity for legacy LIBOR contracts. Rep. Sherman offered a manager’s amendment to include Fed-drafted language making clear that, for contracts stipulating that the rate to be paid is the higher of either LIBOR or another rate, the contract defaults to the backup rate.