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Treasury Participates In U.S.-EU Joint Financial Regulatory Forum – Finance and Banking


United States:

Treasury Participates In U.S.-EU Joint Financial Regulatory Forum


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At the U.S.-EU Joint Financial Regulatory Forum, Treasury and
the staffs of U.S. regulatory agencies exchanged views on topics of mutual interest
with EU participants.

The Forum focused on:

  • how to mitigate financial stability risks in the next phase of
    COVID-19 recovery;

  • sustainable finance, including the U.S. Administration’s
    efforts to tackle climate change and the EU’s implementation of
    its 2018 Action Plan on Financing Sustainable Growth;

  • multilateral engagement in banking and the implementation of
    Basel III reforms;

  • regulatory cooperation in capital markets and the progress in
    respective legislative efforts to ensure a smooth transition away
    from LIBOR, EU implementation of public country-by-country
    reporting, SEC-substituted compliance for EU-domiciled
    securities-based swap dealers in the United States, and the
    European Commission’s equivalent decision for SEC-registered
    central counterparties;

  • regulatory developments regarding financial innovation
    involving new forms of digital payments, such as crypto assets,
    stablecoins, and central bank digital currencies; and

  • AML / countering the financing of terrorism issues.

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