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Banking And Cannabis: Bank Lending, The Next Frontier - Finance and Banking
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Telkom Director Alphonzo Samuels Quits For Personal Resons
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China s antigraft agency unveils corruption cases involving banking regulators
Sun Online Desk
1st June, 2021 07:18:47
China s top antigraft agency, Central Commission for Discipline Inspection (CCDI) on Tuesday disclosed details of corruption cases involving five former banking regulators in the Inner Mongolia autonomous region.
As per the CCDI report, the regulators took more than 700 million Yuan (USD 109 million) in bribes, mostly connected with scandal-hit Baoshang Bank, a failed local lender taken over by the state in 2019, reported Nikkei Asia.
The officials, including Xue Jining, former head of the Inner Mongolia branch of the now-defunct China Banking Regulatory Commission (CBRC), abused their power to seek benefit for those who paid them bribes related to establishing institutions, approving new businesses and loans, project construction and personnel appointments, said the CCDI report.
Fed s Vice Chair for Supervision Calls on Bank Regulators to Pay More Attention to Cryptocurrency
The Federal Reserve’s top supervisory official has called on bank regulators to pay more attention to cryptocurrencies and stablecoins. His comments followed a number of major banks announcing that they will be offering products based on cryptocurrencies, particularly bitcoin, to their clients.
Bank Regulators Should Focus More on Cryptocurrency, Says Fed Supervisor
The Federal Reserve’s vice chairman for supervision, Randal Quarles, talked about cryptocurrency last week at a conference hosted by the Options Clearing Corporation. He urged bank regulators to pay more attention to stablecoins and cryptocurrencies.
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