K. Treppides & Co Limited - ICAS Newsletter - Issue 38

ICAS
September Newsletter - Issue 38/2021

Announcements

EBA
Sees rapid growth in the use of digital platforms in the EU’s banking and payments sector and identifies steps to enhance the monitoring of market developments

21 September 2021
The European Banking Authority (EBA) published a Report on the platformisation of the EU banking and payments sector. The EBA identifies a rapid growth in the use of digital platforms to ‘bridge’ customers and financial institutions, a trend expected to accelerate in line with the wider trend toward the digitisation of the EU financial sector. Platformisation presents a range of potential opportunities for both EU customers and financial institutions. However, new forms of financial, operational, and reputational interdependencies are emerging and the EBA identifies steps to strengthen supervisory capacity to monitor market developments. For more information please press here.

Market News

Bloomberg
Evergrande Payment Grace Period Opens a Month of Uncertainty

24 September 2021
"China Evergrande Group’s unusual silence about a dollar-bond interest payment that was due Thursday has put a focus on what might happen during a 30-day grace period. The world’s most indebted developer has given no signs of having met the $83.5 million coupon payment, which has the grace period before any default could be declared." For more information please press here.

Bloomberg
ECB Is Lonelier Than Ever After a Hawkish Turn Led by Fed

23 September 2021
"With central banks from Washington to London this week signaling more alarm over faster inflation, the ultra-stimulative path of the euro zone and some of its neighbors appears lonelier than ever. A collective move to look beyond the pandemic slump and toward the risk rising of accelerating prices emerged with a warning from the U.S. Federal Reserve that it may taper bond-buying soon, the prospect of higher interest rates as early as this year from the Bank of England and at least five other hikes from central banks around the globe." For more information please press here.

Reuters
U.S. oil refiners pick Iraqi, Canadian crudes to replace storm losses - traders

24 September 2021
"U.S. oil refiners hunting to replace crude lost after a storm hit the U.S. Gulf of Mexico last month have been turning to Iraqi and Canadian oil, while Asian buyers have been pursuing Middle Eastern and Russian grades, analysts and traders said. Royal Dutch Shell (RDSa.L), the largest producer in the U.S. Gulf of Mexico, this week said damage from Hurricane Ida to an offshore transfer facility will limit Mars sour crude supplies into early next year. The grade is used heavily by U.S. Gulf refiners and companies in South Korea and China, the top two export destinations for Mars." For more information please press here.

Cryptocurrencies

Bloomberg
Bitcoin’s Decline Could Lead to a Test of Major Support

23 September 2021
"Wall Street-esque regulation is coming to the cryptocurrency industry, so it pays to play nice. That’s the message from Marco Santori, chief legal officer of the Kraken Digital Asset Exchange. While Coinbase head Brian Armstrong -- and Santori’s boss, Kraken founder and chief executive Jesse Powell -- have taken an adversarial tone toward agencies such as the U.S. Securities and Exchange Commission, it’s clear that more stringent regulation is in the offing, Santori said. “You’re just living in a fantasy world if you don’t believe that this industry is going to face heavier, more Wall Street-like regulation from governments in the U.S. and abroad, and Kraken has simply been practical about that future,” Santori said on Bloomberg’s “QuickTake Stock” broadcast Thursday." For more information please press here.

Regulatory Reporting Solutions

Treppides Regulatory Reporting offers extensive reporting solutions under EMIR, MIFID, CRD IV, FATCA, CRS, REMIT towards MiFID II / MiFIR and CRS in all EU/ESMA jurisdictions like Cyprus (CySEC) and UK (FCA) and soon will also comply with foreign jurisdictions such as ASIC DTR.

Contact us directly at info@treppidesrr.com to discuss your tailor made solution.

Nicosia

Treppides Tower
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Aglantzia
Nicosia, CY 1642
Cyprus
P.O.Box 27142

Tel: +357 22 678944
Fax: +357 22 681887
Web: www.treppides.com

London

Treppides Advisers Ltd
Milner Street,
London, SW3 2QA,
United Kingdom

Tel: +44 20 7569 6756
Fax: +44 20 7569 6757
Web: www.treppidesadvisers.co.uk Email: info@treppidesadvisers.co.uk

Limassol

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Ayios Athanasios
Limassol, CY 4102
Cyprus

Tel: +357 25 822722
Fax: +357 25 822723
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Malta

Finanz Audit Ltd
Level 1, Somnium
Tower Road, Swatar
Birkirkara, BKR 4012
Malta

Tel: +356 2010 8080
Fax: +356 2546 6103
Web: www.finanz-audit.com
Email: info@finanz-audit.com

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