Bloomberg The UK’s withdrawal from the European Union poses a “substantial risk of disruption” to cross-border clearing of financial contracts, according to the Bank of England (BOE). The European Commission, the EU’s executive arm, has proposed supervision rules that could force foreign clearinghouses to locate the clearing of derivatives denominated in EU currencies inside the bloc. In response, some clearinghouses ...

Bloomberg Japan’s currency is taking a larger share of global foreign exchange reserves, in a pattern that’s coinciding with the International Monetary Fund (IMF) gradually incorporating China’s holdings into its published data. The yen is now at its highest proportion since the end of 2002. In the second quarter, it accounted for $429 billion out of the $9.26 trillion worth ...

Bloomberg Banks and regulators in Southeast Asia should strengthen financial-sector rules and guidelines to promote funding for environment-friendly projects in a region threatened by deforestation and climate change, the World Wildlife Fund (WWF) said. Measures to promote sustainable finance in the region are “high level,” and don’t involve the incentives or penalties which would get banks to properly integrate environmental ...