Amit Agrawal

Financial services exec passionate about intelligent automation. Views expressed are my own and do not necessarily reflect the views of my employer

[Amit Agrawal @agrawalamit]

"A good archer is not known by his arrows, but his aim." - Thomas Fuller

[Amit Agrawal @agrawalamit]

📢 Big News :The U.S. Treasury Department, in partnership with the Financial Services Sector Coordinating Council (FSSCC), has issued a comprehensive set of guidelines to help financial institutions (FIs) securely implement cloud services.

https://t.co/yltIX0NWPr

[Amit Agrawal @agrawalamit]

🚀 Exciting News from Singapore! 🚀
The Monetary Authority of Singapore (#MAS ) has committed up to S$100 million to bolster #QuantumComputing and #ArtificialIntelligence (AI) capabilities in the financial sector.
https://t.co/zXvtsIrObN

[Amit Agrawal @agrawalamit]

The Basel Committee on Banking Supervision (BCBS) has approved a finalized disclosure framework for banks' cryptoasset exposures. The unveiling plan is set to be released later in July 2024, with a start date of January 1, 2026.
https://t.co/Y7wlDlLuiS

[Amit Agrawal @agrawalamit]

According to a recent report by FloQast, only 28% of CFOs consider #AI to be a critical component of financial transformation.
https://t.co/JndEPxTf9Y

[Amit Agrawal @agrawalamit]

The International Sustainability Standards Board (ISSB) has recently announced several initiatives to standardize sustainability reporting, focusing on climate transition plans and greenhouse gas (GHG) emissions governance mechanisms
https://t.co/NW1etoFeTw

[Amit Agrawal @agrawalamit]

The 2024 stress test results by the Federal Reserve show that large U.S. banks are well-prepared for a severe economic downturn with slightly increased losses compared to the previous year.
https://t.co/JwXnWbx79E

[Amit Agrawal @agrawalamit]

According to the latest McKinsey Global Survey on AI, generative AI (gen AI) adoption and usage have significantly increased (72% in 2024, up from about 50% in previous years )in 2024 compared to 2023.
https://t.co/S1vVo79Znx

[Amit Agrawal @agrawalamit]

Munich Re Climate Risk Preparedness Survey 2023/24 findings indicate that pure property damage is not the primary concern for any group or region. Instead, business interruption and loss of revenue are seen as the most serious risks.
https://t.co/jLx5drcKJz

[Amit Agrawal @agrawalamit]

MAS and BIS have developed a blueprint called "Project Viridis" for a platform that integrates regulatory and climate data to aid financial authorities in identifying, monitoring, and managing climate risks in the financial system.
https://t.co/Gectc0m7L1

[Amit Agrawal @agrawalamit]

The OSFI's proposed changes to liquidity rules for Canadian banks include:
1-> Intraday Liquidity Monitoring
2-> New Monthly Regulatory Returns
3-> Updates to Bankers' Acceptances:
Implementation will be starting from April 1, 2025
https://t.co/f6aqaLz1f9

[Amit Agrawal @agrawalamit]

CDP launched a new sustainability reporting platform aligned with ISSB, highlighting Global Standards, Expanded Scope, Efficiency, and Partnerships for support.
https://t.co/lFHUlaZHbs

[Amit Agrawal @agrawalamit]

The ESAs are advocating for increased supervision and data access to address greenwashing risks in finance. such as 26% increase in EU greenwashing cases in 2023, while EIOPA observed a rise in cases reported by national supervisors in 2024.
https://t.co/AMcURFljNd

[Amit Agrawal @agrawalamit]

The Biden administration issues guidelines for the "Voluntary Carbon Markets Joint Policy Statement and Principles" to enhance fair participation, trust, and effective involvement in decarbonization efforts. #ClimateAction #CarbonMarket.
https://t.co/EJ5MMgw7kV

[Amit Agrawal @agrawalamit]

The gas sector in the EU undergoes transformations with new rules to cut carbon emissions and boost the hydrogen market by integrating it into gas networks and building infrastructure to promote sustainable gas use and reduce environmental impact.
https://t.co/D2iNcli9Ig

[Amit Agrawal @agrawalamit]

87% of ESG professionals struggle with adapting reporting to new regulations, yet 81% of non-CSRD businesses plan to comply. Challenges include meeting requirements, adopting new methods, and fostering collaboration across departments. (Source: https://t.co/DFgyPlroQx)

[Amit Agrawal @agrawalamit]

The ISSB has introduced a new IFRS Sustainability Disclosure Taxonomy to facilitate digital reporting of sustainability-related financial information, aiding investors in accessing and comparing disclosures as ISSB establishes global Standards.
https://t.co/fANirBL0jS

[Amit Agrawal @agrawalamit]

The EU has finalized three sets of anti-money laundering legislation that will impact cryptocurrencies. Crypto asset service providers will need to follow AML rules similar to banks for transactions over €1,000.
https://t.co/Ri4reMHZcC

[Amit Agrawal @agrawalamit]

In 2024, CDP will introduce a new integrated format merging all existing questionnaires on climate, forests, and water security into one to promote multi-environmental management and a unified approach to tackling climate change and nature loss.
https://t.co/44afzf9KMP

[Amit Agrawal @agrawalamit]

Fiscal policy has been the top concern (13.9% in Q1 2024 from 12.5% in Q3 2023)for financial leaders for three consecutive https://t.co/0CNC0H3EQk the fourth quarter of 2023, CFOs expressed growing worries about fiscal policy and the quality of the workforce.

[Amit Agrawal @agrawalamit]

A study by InfluenceMap found that Canada's "Big Five" banks (RBC, TD, Scotiabank, BMO, CIBC) are undermining their own net-zero commitments through their financing portfolios and policy engagement.
https://t.co/OnomnhHDZj