Top international central bankers and regulators have struck a long-awaited deal on bank capital rules that Mario Draghi hailed as the final step of post-financial crisis reforms and which resolves a transatlantic rift on the treatment of the industry.
- Global Bank Battle Over Basel III Finally Concludes – Wall Street Journal (subscription)
- Banks Emerge Winners from Final Post-Crisis Capital Rules – Bloomberg
Basel Committee ready to release new accord but patchy adoption of internal model floor and FRTB expected.
Bitcoin tumbled more than 12 percent in volatile Asian trading, dropping below the $15,000 level after touching a record high above $16,000 earlier in the session.
The dollar rose against a trade-weighted basket of its rivals, on track for its biggest weekly rise in nearly six weeks as optimism grows that a US tax bill will pass.
Sterling soared to a six-month high against the euro, on relief that Britain and the European Union had managed to strike a deal to move on to talks about post-Brexit trade and a transition period.
As the UK and the European Union announced they had secured a divorce deal, the pound rose – and its gains all but evaporated in a fleeting few seconds.
Year-end demand by European banks for dollar funding has been flagged as one reason for the euro’s weakness in recent days.
The complexity of ERP and remote systems could leave treasurers exposed to FX risks.
New report findings show that FX investors can find significant cost savings – upward of 75% in some cases – by trading futures rather than executing a trade in the OTC markets.
Bitcoin price is following thse classic pattern of an investment mania.
The rapid surge in bitcoin has prompted Washington to take a closer look at digital currencies and the rise of initial coin offerings – a method used by internet entities to raise capital in exchange for a new cryptocurrency.
- Open Letter to CFTC Chairman Giancarlo Regarding the Listing of Cryptocurrency Derivatives – FIA
- Union Official’s Grilling of Bitcoin Expert Draws Rebuke from SEC Commissioner – Wall Street Journal (subscription)
Indonesia’s central bank will bar financial technology companies from using digital currencies on their platforms as a global frenzy around bitcoin continues to lure more investors.
Some states won’t have adopted directive before June, making rule-imposition difficult, say lawyers.
It would give a Dodd-Frank agency powers that even the Obama administration thought too dangerous.
JPMorgan, Bank of America Merrill Lynch and Citigroup won’t offer clients access to first bitcoin futures market when it goes live Sunday.
Theft prompts shutdown of NiceHash, which markets itself as the largest cryptomining marketplace.
One of the major codes of conduct developed around the turn of the century is being retired following the successful launch of the FX Global Code of Conduct.
Crédit Agricole CIB Global Markets Division has announced that Robert Valdes-Rodriguez is joining the bank as head of financial institutions foreign exchange sales for North America.
Most emerging Asian currencies traded flat to marginally easier as the dollar gained on the passage of a bill to temporarily extend US government funding, raising investors’ optimism that a tax reform bill would also pass.
The Russian rouble weakened, dragged down by falling oil prices and pressure from increased state purchases of foreign currencies.