Cryptocurrency
Op risk data: Frank fiasco costs JP Morgan $175m
Also: Internal fraud burns fewer fingers, but flame is far from out. Data by ORX News
Metropolitan Commercial Bank crypto exit leads to higher funding costs
Withdrawals by exchanges and other clients deflates non-interest-bearing deposits
Isda’s fork provision gives crypto market plenty to chew over
Not everyone is happy with the discretion new digital definitions offer to calculation agents
Beyond trustless: strong governance in crypto is needed
To build trust, the crypto ecosystem can borrow proven governance principles from TradFi
Token effort is no blockchain boon for illiquid assets
Cash-like tokenised instruments find takers; initiatives based on less liquid assets struggle to take off
Crypto custody faces regulatory death-roll
New measures to safeguard digital assets threaten to squeeze the life out of custody business, insiders fear
LCH plans for Q4 bitcoin derivatives clearing launch
CCP will run segregated default fund; does not rule out following up with ether-based contracts
TMX eyes spot crypto trading launch next year
Exchange group would become first in North America to offer direct access to spot market in digital assets
CFTC chair gloomy over crypto legislation prospects
FIA Boca 2023: Behnam also asks Congress to grant more powers to regulate third-party tech providers
Tales from the crypto prompt calls for FX-style market structures
Demands for interdealers and prime brokers to be brought into crypto market in wake of FTX debacle
Top 10 operational risks: Focus on cyber risk
All firms fear data breach; smaller banks also concerned over IT disruption
Big investors undeterred by crypto failures – Goldman exec
Financial institutions are forging ahead with investment plans despite the sector’s recent troubles
Regulated UK crypto firms fear authorisation Groundhog Day
Industry wants grandfathering in new Treasury framework to avoid business continuity risk
Risk.net’s top 10 investment risks for 2023
Geopolitical frictions, sticky inflation and a hard landing are among the hazards cited by investors
Op risk data: Cerberus fight bites $850m off CIBC
Also: SEC targets dodgy disclosures; Commerzbank’s Wirecard hit. Data by ORX News
Crypto gets to grips with interest rate swaps
New derivatives provide synthetic access to staking yields and are being used in structured products
Stablecoins: good as the buck, or breaking the buck?
Collateral concerns and iffy auditing have raised fears of a ‘de-pegging’ event – and possible contagion across crypto and beyond
EBS ventures into crypto market with upcoming NDF
The move could be a big step forward for mainstream adoption of crypto NDF trading
Alameda’s mystery bank stake reignites Fed deposit debate
Crypto challenger Custodia accuses regulator of unlevel playing field over master accounts
Exchange of the year: CME Group
Risk Awards 2023: Group puts US Libor transition back on track with tens of millions in fee waivers
Why central banks shouldn’t ignore stablecoins
Rapid growth of stablecoins could impair monetary policy transmission
Review of 2022: Fighting on all fronts
Macro headlines unleashed micro-horrors, as margins soared, correlations cracked and crypto markets imploded
FTX’s Mifid licence exposes Europe’s regulatory gaps
Could Cyprus have spotted the warning signs before handing FTX the keys to European customers?
Law change set to make Fed reveal holders of master accounts
New database will make applications from fintechs and crypto firms public