Bank regulation

Jacobi Asset Management Receives Approval to Launch the World's First Tier One Bitcoin ETF

Retrieved on: 
Friday, October 15, 2021
Bitcoin, Financial technology, Sigma, Goldman Sachs, Technology, ETF, Intention, Credit Suisse, Guernsey Financial Services Commission, Financial News, FCA, GIFA, Investment, Cyprus Securities and Exchange Commission, Bank regulation, CEO, Jacobi, Guernsey, Financial Conduct Authority, U.S. Securities and Exchange Commission, Cryptocurrency

LONDON, Oct. 15, 2021 /PRNewswire/ -- Jacobi Asset Management  has received approval to launch the world's first tier one Bitcoin ETF. The Jacobi Bitcoin ETF is a centrally cleared crypto-backed financial instrument, authorised by the Guernsey Financial Services Commission (GFSC) and with custody provided by Fidelity Digital AssetsSM. It is Jacobi's intention to list the Jacobi Bitcoin ETF on Cboe Europe, one of the largest pan-European equity exchanges, subject to Financial Conduct Authority (FCA) listing approval.

Key Points: 
  • LONDON, Oct. 15, 2021 /PRNewswire/ -- Jacobi Asset Management has received approval to launch the world's first tier one Bitcoin ETF.
  • The Jacobi Bitcoin ETF is a centrally cleared crypto-backed financial instrument, authorised by the Guernsey Financial Services Commission (GFSC) and with custody provided by Fidelity Digital AssetsSM.
  • It is Jacobi's intention to list the Jacobi Bitcoin ETF on Cboe Europe, one of the largest pan-European equity exchanges, subject to Financial Conduct Authority (FCA) listing approval.
  • Prior to FCA listing approval, Jacobi Bitcoin ETF investments will be facilitated through Sigma Asset Management (Guernsey) Limited ("Sigma"), the fund manager providing management and administration.

Jacobi Asset Management Receives Approval to Launch the World's First Tier One Bitcoin ETF

Retrieved on: 
Friday, October 15, 2021
Bitcoin, Financial technology, Sigma, Goldman Sachs, Technology, ETF, Intention, Credit Suisse, Guernsey Financial Services Commission, Financial News, FCA, GIFA, Investment, Cyprus Securities and Exchange Commission, Bank regulation, CEO, Jacobi, Guernsey, Financial Conduct Authority, U.S. Securities and Exchange Commission, Cryptocurrency

LONDON, Oct. 15, 2021 /PRNewswire/ -- Jacobi Asset Management has received approval to launch the world's first tier one Bitcoin ETF.

Key Points: 
  • LONDON, Oct. 15, 2021 /PRNewswire/ -- Jacobi Asset Management has received approval to launch the world's first tier one Bitcoin ETF.
  • The Jacobi Bitcoin ETF is a centrally cleared crypto-backed financial instrument, authorised by the Guernsey Financial Services Commission (GFSC) and with custody provided by Fidelity Digital AssetsSM.
  • It is Jacobi's intention to list the Jacobi Bitcoin ETF on Cboe Europe, one of the largest pan-European equity exchanges, subject to Financial Conduct Authority (FCA) listing approval.
  • Prior to FCA listing approval, Jacobi Bitcoin ETF investments will be facilitated through Sigma Asset Management (Guernsey) Limited ("Sigma"), the fund manager providing management and administration.

PSEG Announces Redemption of All Outstanding PSEG Power Senior Notes

Retrieved on: 
Wednesday, September 8, 2021

NEWARK, N.J., Sept. 8, 2021 /PRNewswire/ -- PSEG (NYSE: PEG) announced today that it will redeem all remaining outstanding Senior Notes of PSEG Power totaling approximately $1.35 billion.

Key Points: 
  • NEWARK, N.J., Sept. 8, 2021 /PRNewswire/ -- PSEG (NYSE: PEG) announced today that it will redeem all remaining outstanding Senior Notes of PSEG Power totaling approximately $1.35 billion.
  • This includes $700 million in aggregate principal amount of 3.850% Senior Notes due 2023, $250 million in aggregate principal amount of 4.30% Senior Notes due 2023, and approximately $404.3 million in aggregate principal amount of 8.625% Senior Notes due 2031on Oct. 8, 2021 (collectively, the "Notes").
  • Following redemption of the Notes, PSEG Power will no longer have any bonds outstanding.
  • Headquartered in Newark, N.J., PSEG's principal operating subsidiaries are: Public Service Electric and Gas Co. (PSE&G), PSEG Power and PSEG Long Island.

BNG Bank update: results European stress test 2021

Retrieved on: 
Friday, July 30, 2021
Bank regulation, Systemic risk, Risk analysis, Stress test, BNG, Stress, European Union bank stress test

BNG Bank notes the announcements made today by the EBA on the EU-wide stress test and acknowledges the outcomes of this exercise.

Key Points: 
  • BNG Bank notes the announcements made today by the EBA on the EU-wide stress test and acknowledges the outcomes of this exercise.
  • The stress test leads for BNG Bank under the baseline scenario to a CET1 ratio of 33.7% at year-end 2020.
  • In contrast to previous years, the stress test methodology entailed also for BNG Bank stress results related to net trading income.
  • In the opinion of BNG Bank this is unjustified because the bank does not have a trading book.

DGAP-News: Commerzbank demonstrates resilience in EBA stress test

Retrieved on: 
Friday, July 30, 2021
Articles, Risk analysis, Branches of biology, Bank regulation, Stress test, Systemic risk, Psychological resilience, Stress, Psychological stress, Self, European Union bank stress test

- Chief Risk Officer Marcus Chromik: "The stress test result once again confirms Commerzbank's healthy risk profile"

Key Points: 
  • - Chief Risk Officer Marcus Chromik: "The stress test result once again confirms Commerzbank's healthy risk profile"
    Commerzbank has again demonstrated its resilience in this year's stress test conducted by the European Banking Authority (EBA).
  • In the adverse stress test scenario, the common equity tier 1 ratio (CET 1 ratio) came out at 8.2% at the end of the 2023 stress test horizon.
  • We've demonstrated our resilience in a very tough stress scenario despite a difficult starting point in the pandemic environment," said Marcus Chromik, Chief Risk Officer.
  • The stress test assumed a static balance sheet and therefore did not take account of any current or future business strategies or management initiatives.

Commerzbank demonstrates resilience in EBA stress test

Retrieved on: 
Friday, July 30, 2021
Articles, Risk analysis, Branches of biology, Bank regulation, Stress test, Systemic risk, Psychological resilience, Stress, Psychological stress, Self, European Union bank stress test

- Chief Risk Officer Marcus Chromik: "The stress test result once again confirms Commerzbank's healthy risk profile"

Key Points: 
  • - Chief Risk Officer Marcus Chromik: "The stress test result once again confirms Commerzbank's healthy risk profile"
    Commerzbank has again demonstrated its resilience in this year's stress test conducted by the European Banking Authority (EBA).
  • In the adverse stress test scenario, the common equity tier 1 ratio (CET 1 ratio) came out at 8.2% at the end of the 2023 stress test horizon.
  • We've demonstrated our resilience in a very tough stress scenario despite a difficult starting point in the pandemic environment," said Marcus Chromik, Chief Risk Officer.
  • The stress test assumed a static balance sheet and therefore did not take account of any current or future business strategies or management initiatives.

PayBito Installs Adverse Internet KYC/AML Investigation System

Retrieved on: 
Thursday, July 22, 2021
Bank regulation, Banking in India, Know your customer, Financial Action Task Force, Organizations, Financial crime, Palo Alto, California, Geography of California, International organizations

PALO ALTO, Calif., July 22, 2021 /PRNewswire-PRWeb/ --Global virtual currency exchange, PayBito to reinforce their KYC/AML investigation through their new SaaS project.

Key Points: 
  • PALO ALTO, Calif., July 22, 2021 /PRNewswire-PRWeb/ --Global virtual currency exchange, PayBito to reinforce their KYC/AML investigation through their new SaaS project.
  • This adverse internet research platform analyzes over 40 million news feeds across 15 languages to sort out relevant financial risks aligned to both FATF and national standards.
  • "The adverse internet research is the top and more often the earliest source of information on financial crimes.
  • Installation of this system should relieve the system of errors committed through manual processing of data and personnel-fatigue.

Republic First Bancorp, Inc. to Report Second Quarter Financial Results on July 23, 2021

Retrieved on: 
Friday, July 16, 2021
Banking, Financial services, Bank regulation, Deposit insurance, Federal Deposit Insurance Corporation, Forward-looking statement, Finance, Republic Bank & Trust Company, First Bancorp

Republic Bank, a subsidiary of Republic First Bancorp, Inc., is a full-service, state-chartered commercial bank, whose deposits are insured up to the applicable limits by the Federal Deposit Insurance Corporation (FDIC).

Key Points: 
  • Republic Bank, a subsidiary of Republic First Bancorp, Inc., is a full-service, state-chartered commercial bank, whose deposits are insured up to the applicable limits by the Federal Deposit Insurance Corporation (FDIC).
  • The Bank provides diversified financial products through its thirty-two stores located in the Greater Philadelphia, Southern New Jersey and New York market place.
  • The forward-looking statements contained herein, are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected in the forward-looking statements.
  • All such statements are made in good faith by the Company pursuant to the safe harbor provisions of the U.S.

FCAC releases Make Change that Counts: National Financial Literacy Strategy

Retrieved on: 
Wednesday, July 14, 2021
Articles, Academic disciplines, Bank regulation, Banking in Canada, Financial Consumer Agency of Canada, Financial literacy, Psychological resilience, Literacy

Today, FCAC released a renewed National Financial Literacy Strategya five-year plan to help Canadians build financial resilience.

Key Points: 
  • Today, FCAC released a renewed National Financial Literacy Strategya five-year plan to help Canadians build financial resilience.
  • Underpinning the National Financial Literacy Strategy is an evidence-based approach grounded in research, and collaboration across stakeholders in the financial ecosystem.
  • "As we emerge from the pandemic, the National Financial Literacy Strategy will generate positive change to enable Canadians to build greater financial resilience.
  • We, at FCAC, are proud to be a leader in financial literacy and the National Financial Literacy Strategy is a bold step forward.

UK Regulators Highlight Lack of Diversity in Financial Services

Retrieved on: 
Wednesday, July 14, 2021
Finance, Consulting, Banking, Professional services, Human resources, HM Treasury, United Kingdom banking law, Bank regulation, Bank of England, Finance, Financial Conduct Authority, Prudential regulation, Prudential Regulation Authority, Diversity, Money, Financial services

Financial services regulators in the United Kingdom (UK) have joined forces to tackle a lack of diversity within the sector.

Key Points: 
  • Financial services regulators in the United Kingdom (UK) have joined forces to tackle a lack of diversity within the sector.
  • Online assessment provider Questionmark has identified six ways that employers can build diversity and inclusion (D&I) among their workforce.
  • The Financial Conduct Authority (FCA), Prudential Regulation Authority (PRA) and Bank of England (BoE) have come together to explore how they can improve diversity and inclusion in the financial services sector.
  • Check that diversity training is working testing participants after D&I training reveals whether it is imparting the right knowledge.