EUR/USD 1.17181
0.305%
Gold 4716.92
0.481%
Oil 93.244
-2.505%
USD/JPY 159.415
-0.194%
GBP/USD 1.35321
0.490%
GBP/JPY 215.732
0.299%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On April 25, Iranian President Pezechzian posted on his personal social media account that the day marked the anniversary of the "Tabas incident," and stated that a similar incident had occurred again this year in southern Isfahan. Pezechzian said he hoped these "historic setbacks" would "sound an alarm for hegemonists."On April 25, the Chinese Embassy in Mali issued a notice advising Chinese citizens against traveling to Mali. The notice stated that the General Staff of the Malian Armed Forces issued a statement on the 25th, saying that several military facilities and camps in Mali, including the capital Bamako, were attacked by unidentified terrorist organizations early that morning. Fighting is still ongoing. Bamako International Airport has been temporarily closed. The embassy reminds Chinese citizens in Mali to be vigilant, closely monitor the security situation, stay away from dangerous areas, and avoid unnecessary travel. In case of emergency, remain calm, prioritize personal safety, and contact the police and the Chinese Embassy in Mali immediately after ensuring your own safety.On April 25, Iranian President Peskov stated during a visit to the Ministry of the Interior and a video conference of provincial governors that the attacks and blockades targeting infrastructure by hostile forces in Iran are intended to incite public discontent, and Iran must prevent this from being achieved. In his speech, he thanked local officials for their work and called on the public to conserve electricity and reduce energy consumption. He stated that while other sacrifices may not be necessary at present, it is essential to strengthen control over electricity and energy use.On April 25, Irans Tasnim News Agency quoted a spokesperson for the central headquarters of the Iranian Armed Forces, Hatam Anbia, as saying that if the US military continues its blockade, looting, and piracy activities in the region, it will inevitably face a response from Irans powerful armed forces.According to Saudi Arabias Al Arabiya TV, Iranians prefer to negotiate with US Vice President Vance.

Banks should manage heightened risks from crypto firm deposits –Fed’s Barr

Skylar Shaw

Oct 13, 2022 16:00

微信截图_20221013112248.png


According to Michael Barr, the vice chair of supervision at the Federal Reserve, banks that accept deposits from cryptocurrency companies should be wary of increasing liquidity concerns, especially if enterprises are closely linked to other businesses that deal in digital assets.


According to Michael Barr, the vice chair of supervision at the Federal Reserve, banks that accept deposits from cryptocurrency companies should be wary of increasing liquidity concerns, especially if enterprises are closely linked to other businesses that deal in digital assets.


Barr stated that the Federal Reserve is collaborating with the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency to highlight the risks to banks of concentrating their deposits in the cryptocurrency industry and to warn that banks may experience deposit fluctuations linked to price fluctuations in the larger crypto market.


The degree of centralization and interconnection among crypto-asset businesses, which increases stress, has been made clear by the recent volatility in the cryptocurrency markets, he added.


Despite the fact that banks were not directly impacted by these events' losses, these incidents have brought attention to possible concerns for financial institutions.


Speaking at DC Fintech Week, Barr stated that the goal of the banking regulators' interactions with financial institutions regarding the dangers of accepting deposits from cryptocurrency firms is "not to discourage banks from providing access" to banking services for cryptocurrency companies, but rather to ensure that any risks are properly mitigated.


Since assuming the top regulatory position at the Fed in July, Barr hasn't spoken in detail on cryptocurrencies and fintech until now. In the address, Barr said that regulators must strike a balance between encouraging innovation and providing barriers to protect customers and prevent systemic dangers.


Barr also cautioned that misleading statements made by cryptocurrency businesses concerning deposit protection may mislead clients and encourage withdrawals from banks with a cryptocurrency slant who provide such services at times of high stress.


These remarks come after the FDIC ordered several other crypto businesses, including the cryptocurrency exchange FTX, to stop making what it deemed to be "false and deceptive" assertions about whether the company's assets are government-insured in August.

Suggestion