Global regulators push ahead with crypto bank capital rules

31/5/2022 7:12:00 PM

Global regulators push ahead with crypto bank capital rules

Global regulators push ahead with crypto bank capital rules

LONDON : Global regulators said on Tuesday they will complete work by year end on how much capital banks should hold to cover cryptoassets on their books.Last June the committee proposed that banks set aside enough capital to cover losses on any bitcoin holdings in full.Certain tokenised traditiona

LONDON : Global regulators said on Tuesday they will complete work by year end on how much capital banks should hold to cover cryptoassets on their books.Last June the committee proposed that banks set aside enough capital to cover losses on any bitcoin holdings in full.

Certain tokenised traditional assets and stablecoins could, however, come under existing capital rules and be treated like bonds, loans, deposits or commodities.Earlier this month TerraUSD, a stablecoin tied to the U.S. dollar, collapsed."Recent developments have further highlighted the importance of having a global minimum prudential framework to mitigate risks from cryptoassets," the Basel Committee said in a statement.

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LinkedIn LONDON : Global regulators said on Tuesday they will complete work by year end on how much capital banks should hold to cover cryptoassets on their books.LinkedIn TOKYO :Japan's Toyota Motor Corp on Monday said it missed its global production target for April as COVID-19 outbreaks and a parts shortage slowed its post-pandemic recovery.Copy to clipboard https://str.LinkedIn The World Health Organization said on Sunday (May 29) that monkey pox constitutes a"moderate risk" to overall public health at global level after cases were reported in countries where the disease is not typically found.

Last June the committee proposed that banks set aside enough capital to cover losses on any bitcoin holdings in full. Certain tokenised traditional assets and stablecoins could, however, come under existing capital rules and be treated like bonds, loans, deposits or commodities.1 per cent drop from the same month last year, and falling short of an earlier plan of making about 750,000 vehicles worldwide. Earlier this month TerraUSD, a stablecoin tied to the U. As of May 26, a total of 257 confirmed cases and 120 suspected cases have been reported from 23 member states that are not endemic for the virus, the health agency said in a statement.S. Toyota last week downgraded its global production plan for June to around 800,000 vehicles due to the impact of COVID-19 containment measures in China and signalled the possibility of lowering its full-year output plan of 9. dollar, collapsed. The agency added that it expects more cases to be reported as surveillance in endemic and non-endemic countries expands.

"Recent developments have further highlighted the importance of having a global minimum prudential framework to mitigate risks from cryptoassets," the Basel Committee said in a statement. The automaker on Monday also said global sales dropped 11. The agency added that it expects more cases to be reported as surveillance in endemic and non-endemic countries expands. "Building on the feedback received by external stakeholders, the Committee plans to publish another consultation paper over the coming month, with a view to finalising the prudential treatment around the end of this year." Countries which are members of Basel are committed to applying its agreed principles in their own national rules. Domestic sales, excluding sales of units Daihatsu and Hino Motors Ltd, tumbled almost 17 per cent to 103,143 vehicles. The committee also said it has agreed to a finalised set of principles for supervising climate-related financial risks at banks. Most of the cases reported so far have been "The vast majority of reported cases so far have no established travel links to an endemic area and have presented through primary care or sexual health services," the UN agency said. "The principles, which will be published in the coming weeks, seek to promote a principles-based approach to improving risk management and supervisory practices to mitigate climate-related financial risks," Basel said.

The committee has also agreed that the euro zone is one domestic jurisdiction when it comes to calculating an extra capital buffer for large, globally systemic banks which are based there. Treating their intra-euro zone exposures as domestic, which attracts lower capital charges than non-domestic exposures, should reduce the size of the extra capital buffer requirements for some euro zone lenders. The European Central Bank, which regulates big euro zone lenders, said it was a step toward a more integrated banking sector in Europe and the creation of a truly domestic market. Fitch Ratings said last December the change could see some banks like BNP Paribas drop out of the extra global buffer requirement altogether. Source: Reuters .