This paper analyses how retail CBDCs and fast payment system compare with each other and why some jurisdictions have opted for a retail CBDC, while others have chosen to introduce a fast payment system or both.

The following has been published in the Official Journal: Commission Implementing Regulation (EU) 2024/2984 of 29 November 2024 laying down implementing technical standards for the application of MiCAR with regard to forms, formats and templates for the cryptoasset white papers.

IAIS has published its 2024 report, which provides the results of this year’s global monitoring exercise, the’ risk assessment framework to monitor key risks and trends and detect the potential build-up of systemic risk in the global insurance sector.

ESMA has written to IASB and EFRAG with regard to IASB’s exposure draft.

The SI sets out HMT’s determination that Singapore’s regulatory and supervisory regime for trading in derivatives is equivalent to the UK’s and allows UK counterparties to fulfil their Derivatives Trading Obligation when they trade derivatives instruments on trading venues in Singapore,  (Date in force: 31 December 2024)

The Committee has now published transcripts of the hearings held on 27 November 2024 attended by the former HMT Economic Secretaries, Andrew Griffiths and Bim Afolami.

EBA has published amendments to its final draft implementing technical standards on the supervisory reporting and disclosures of investment firms. The amendments cover supervisory reporting requirements on counterparty credit risk, market risk and credit valuation adjustment risk.

TSC has now published the text of a letter from Nikhil Rathi which was sent to it ahead of the publication of CP24/2, Part 2.

Text of this speech of 2 December 2024 follows in which Lee Foulger sets out conclusions from the recent system-wide exploratory scenario exercise, including with regard to the way in which firms are often not able to anticipate how their counterparties, investors, or the markets they operate in, behave under severe market stress.

BoE is consulting on a proposal to revoke the retained EU law Technical Standard 2019/348 on Simplified Obligations, noting that it found that the assessment prescribed in the SO UKTS identifies the same firms as the process that results in the setting of a preferred resolution strategy of modified insolvency.  Responses are required by 2 February 2025.