#financialrisk — Public Fediverse posts

Financial Boffins are calling out issues/gaps/concerns re the recently passed GENIUS Act that pose RISKS! Here are a few ...

1. financial regulators need to write capital, liquidity, and risk management requirements for the Act
2. permissible reserve assets can include uninsured deposits in banks and shares of credit unions
3. does not prohibit payment stablecoins from being counted as a cash or cash-equivalent asset on a corporate balance sheet
4.allows for both Treasury repo and Treasury reverse repo transactions to meet liquidity needs
5. nonfinancial companies can be permitted to issue stablecoins
6. input from regulators is needed to address risks of stablecoins being used for illicit activities
7. no reference to maintaining par-value exchange in the secondary markets
8. no definition of what interoperability actually means
9. does not address if stablecoins from different issuers should be fungible
10. lacks requirements for transparency, accountability, and enforcement of technical infrastructure used for stablecoins
11. prohibits issuers from paying interest or yield to holders, but does not ban third parties from paying interest

https://www.brookings.edu/articles/stablecoins-issues-for-regulators-as-they-implement-genius-act/ #Crypto #Stablecoins #GENIUSAct #Congress #Risk #FinancialRisk #MonetarySystem #Money #Cryptocurrencies #MonetaryRisk

OCA Credit Control revolutionizes financial risk management! Discover how to block sales and invoice confirmations in Odoo ERP and secure your business today. #OdooERP #CreditControl #FinancialRisk #BlockSalesInvoices

https://teguhteja.id/oca-credit-control-assess-financial-risk/

Ensuring Compliance: CFO Perspectives on Third-Party Risk Management https://thecyberexpress.com/cfo-perspective-on-third-party-risk-management/ #ThirdPartyRiskManagement #TheCyberExpressNews #CybersecurityNews #VendorManagement #CyberEssentials #Vulnerabilities #TheCyberExpress #RiskAssessment #RiskManagement #FirewallDaily #cybersecurity #FinancialRisk #BusinessNews #DataSecurity #Compliance #CFO

Macroeconomics Expert Predicts Hard Landing for US Economy - Despite recent positive economic indicators, investor and macroeconomics expert Ge... - https://news.bitcoin.com/macroeconomics-expert-predicts-hard-landing-for-us-economy/ #economicforecast #federalreserve #bankingsector #financialrisk #georgegammon #u.s.economy #economics #gdpgrowth #inflation #recession

This is HUGE:
"#CreditRating agencies (Moody’s Investors Service, Standard and Poor’s, and Fitch Ratings) have moved almost 180 degrees in their perspective on #FossilFuels during the last 20 years. A consensus has emerged. At one time, the agencies considered fossil fuels to be “credit positive.” Now, individually and in the aggregate, the three major credit rating agencies are issuing clear, specific warnings about the #FinancialRisk of fossil fuels."

https://energypost.eu/credit-rating-agencies-downgrading-coal-oil-gas-climate-change-is-now-a-clear-risk-category/

Nature loss is a financial risk, and businesses need to act now. A new report warns that the loss of biodiversity and ecosystem services could cost the global economy $10 trillion by 2050. The report also provides a framework for businesses to measure and manage their impacts and dependencies on nature.

#NatureLoss #FinancialRisk #Biodiversity https://www.weforum.org/agenda/2023/06/nature-loss-financial-risk-biodiversity/?utm_source=flipboard&utm_content=HariTulsidas%2Fmagazine%2FArchetypes

#UK-based environmental #LawFirm ClientEarth is suing Shell’s 11-member board, saying they are failing to properly manage the business risks associated with #ClimateChange. The lawsuit, filed in England’s high court, claims that the company’s current climate strategy is inadequate, which puts Shell at a #FinancialRisk as the world works to move away from #FossilFuels. https://gizmodo.com/shell-sued-failing-to-prepare-for-climate-change-1850098944