BIS/World Bank Advance Payment-System Inclusion
The BIS Committee on Payment and Market Infrastructure along with the World Bank Group today released tools nations can deploy to enhance payment-system inclusion.
Agencies Formalize More IFRs
The banking agencies today finalized four more interim final rules providing relief during the pandemic, rejecting GOP calls when Chairman Powell was on the Hill last week (see Client Reports COVID15) to make these and other IFRs permanent.
Fintech Task Force Dems Urge Statutory Response to OCC Charters
As expected, Acting Comptroller Brooks’ proposed special purpose payment charter was front and center at today’s HFSC Fintech Task Force hearing.
FinCEN Raises Crypto-Risk Profile
In remarks today, FinCEN Director Blanco emphasized emerging AML risks related to cryptoassets, stating that these are not unique to exchanges and must be addressed also at banks.
Treasury Considering Structural MMF Rewrite
Deputy Treasury Secretary Muzinich today emphasized that Treasury has concluded that the MMF breakdowns in March of this year warrant additional and likely structural reform.