While the Fed hasn't joined the NGFS - a club of climate-conscious central bankers - it does have a top seat at the more consequential Basel Committee Taskforce on Climate-related Risk, the TFCR. We spoke to its co-chair the New York Fed's Kevin Stiroh risk.net/7655541

Formally withdrawing a prior commission's proposals is unusual, critics say. So was the CFTC justified in ditching Reg AT and are its new Electronic Trading Risk Principles fit for purpose? risk.net/7674886

Rumblings in DC that the CFTC is set to drop its proposed 48hr delay for swaps trading, which critics called a menace to transparent markets. We reported on its problems here risk.net/7661306

Litterman led the publication of last month's landmark report that declared climate change a major risk to the US economy. A respected bipartisan voice and risk manager, he's optimistic the US's climate change political deadlock will be overcome risk.net/7684436

President-elect Biden will find his policy agenda hobbled without control of the Senate, but that doesn’t mean Wall Street is off the hook. Expect fast action on climate risk and a slow reversal of Trump's Dodd Frank Act rollbacks... risk.net/7706131

Bank of England warns banks to start preparing for a higher carbon price, regardless of current government policy risk.net/7708411

The Fed also announced this week -finally- that it will measure and mitigate climate risk. Next prediction: the US will want a bigger say in setting climate risk standards

The scale of the red-blue ec divide underscores the scale of U.S. political-economic alienation Trump anti-system votes suggest many continue to feel no connection to the nation's core economic enterprise. Brookings Metro brook.gs/3nd6w5D

The Financial Stability Board The FSB has spelt out how climate risks could become financial stability risks -some in the "relatively short term"- so why has it not acted with greater purpose? risk.net/7721281

A minor tweak to the NSFR could mean a major change for banks. hubs.ly/H0FGB7F0

In light of the Nomura announcement, re-upping my feature on the amount of off-balance-sheet collateral at the bank, and its implications: risk.net/regulation/780…

SCOOP: Credit Suisse held just 10% margin against Archegos book Will Hadfield and Costas Mourselas with the receipts. risk.net/risk-managemen…

US forests that generate the carbon offsets bought by companies including BP and Microsoft are on fire on.ft.com/3jfGvCc

#Afghanistan 🇦🇫: The global community has a duty to acknowledge the vital work of journalists, media workers and other human rights defenders and do the utmost to protect them. We urge world governments to act and provide support to media workers and those who have fled

"Since the onset of the talibans’ offensive some 140 media outlets have closed... thousands of journalists have lost jobs... They only have us to feed them & their families, & guarantee their shelter & well-being. Please send a donation now." Jim Boumelha ifj.org/safety-fund.ht…

Would lower capital requirements for "green" assets help banks finance the transition to zero-carbon? Here's why experts think it could be a distraction from the crucial task of carbon pricing: risk.net/regulation/786…

Should the Fed's standing repo facility be opened up to non-bank participants, and if so, what's the best way to do it? Sharon Thiruchelvam takes a look: risk.net/regulation/787…

Nice scoop from Costas Mourselas. Clear there is a big divide among EU policy-makers between those saying it can't be done, and those saying: cancel UK equivalence for CCPs and let the market sort out the consequences. risk.net/risk-managemen…

NEW: Some staggering figures out of BlackRock's latest climate disclosures: 65% of its AUM accounts for 1% of global emissions. risk.net/risk-quantum/7…

Nice to see New York Fed reference Sharon Thiruchelvam reporting on US Treasuries trading and clearing: newyorkfed.org/medialibrary/m…