The Bank of England has removed individual and corporate holding limits for pound-backed stablecoins, responding to concerns that the original caps would hinder the UK's fintech competitiveness. The new guidance temporarily limits each UK stablecoin to £40 billion and increases the share of backing assets in short-term government debt to 70%. This move aims to manage stablecoin risk more effectively while allowing greater innovation and usage. The guidance, open for public comment until September, is expected to be finalized by the end of the year.

European Central Bank President Christine Lagarde stated that the ECB does not need to take a more forceful approach in response to the ongoing conflict involving Iran, citing confidence in inflation returning to target levels over the medium term. While acknowledging the fragile situation in the Middle East and the potential for further economic shocks, Lagarde emphasized that the ECB is prepared to adjust its response as circumstances evolve, but currently sees no evidence of inflation expectations becoming unanchored or of second-round effects that would require a stronger policy reaction.

The US Treasury temporarily waived sanctions to let Iran sell oil in dollars for the first time in decades, easing a core restriction on Tehran's crude exports as negotiations continue. The move could help Iran repatriate oil revenue and revive sanctioned tanker sales, but it risks criticism that Washington is granting financial relief before securing firm nuclear concessions.

ECB supervisory board member Sharon Donnery said European banks have remained resilient through recent shocks but must stay alert to geopolitical risks, cyber threats and other pressures on financial stability. Her comments come as policymakers examine ways to simplify banking regulation while preserving safeguards that support the sector's resilience.

Indonesia's plan to double minimum free floats and tighten shareholder disclosure rules could push some listed companies to go private rather than meet tougher market standards. Analysts said the reforms may improve transparency after MSCI raised concerns, but the extra share supply could pressure prices in a market heavily driven by short-term retail trading.

Federal Reserve Chair Kevin Warsh will give his first monetary policy testimony to Congress on July 14 before the House Financial Services Committee. The appearance comes after his debut policy meeting and follows months of scrutiny over the Fed's communications, rate outlook and the suspended DOJ probe into former Chair Jerome Powell.

Alan Greenspan, who served as Federal Reserve chair from 1987 to 2006, died yesterday from complications of Parkinson's disease, according to a statement from his wife, journalist Andrea Mitchell. He was 100. Greenspan's tenure as Fed chair was marked by major events such as the 1987 stock market crash and the dot-com bubble. Warning of "irrational exuberance," he has received praise for his handling of the 1990s economic boom and criticism over policies that some say contributed to the 2008 financial crisis.

Join the IA and ISDA to discuss the evolving regulatory framework governing the management of liquidity and leverage by Non-Bank Financial Institutions (NBFIs) and how this is impacting strategic collateral management operations and optimization. The event will also consider how developments in technology can be used to drive efficiencies in collateral management. Click here to register.

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ISDA has launched the ISDA-Actrix US Treasury Repo Market Clearing Indicators in collaboration with Actrix. The indicators illustrate central clearing adoption in the US Treasury repo market. Sponsored cleared repo volumes are used as a proxy to monitor client participation in central clearing, a key objective of the US Securities and Exchange Commission's (SEC) US Treasury clearing mandate. The report will be published on a monthly basis.