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Recent Editions

Risk Channel
North America
The Office of the Comptroller of the Currency (OCC) has reintroduced a streamlined process for bank mergers, reversing a previous policy that mandated closer scrutiny for larger deals. This interim final rule eliminates the requirement for more deliberate consideration of mergers involving banks with assets exceeding $50bn, a policy established under President Joe Biden. Acting Comptroller of the Currency Rodney Hood said: "The OCC's actions today reduce burden and uncertainty for banks and supports a regulatory framework for bank mergers that is effective and not excessive." The new rule aims to encourage economic growth by reducing government intervention in the banking sector. The OCC also confirmed banks and federal savings associations under its jurisdiction can trade crypto on behalf of customers and outsource bank-permissible crypto activities, including custody and execution services, to third parties.
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Risk Channel
UK/Europe
In his first remarks to parliament on last week’s Iberian power cut, Spain’s Prime Minister Pedro Sánchez has said he will not deviate “a single millimetre” from his commitment to renewable energy, in a response to critics who blamed the blackout on the country’s dependence on wind and solar power. “There is not empirical evidence telling us that the incident was caused by an excess of renewable energy sources or from a lack of nuclear power,” he said to parliament on Wednesday. Responding to calls for his administration to reverse course on scrapping nuclear power stations, Sánchez said advocates of nuclear power were using the blackout as an excuse for a “gigantic manipulation exercise.” He said: “Not a single serious study says nuclear power is essential for Spain . . . In Spain, the future of energy lies in other sources such as hydroelectric, solar, wind and green hydrogen. Renewables are not only the future; they are our only choice.”
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