The BCBS consultation will likely give an indication of the banking industry's mindset towards holding cryptoassets in the future, says Douglas Cheung at Wolters Kluwer.
APRA may have delayed planned reforms to the Economic and Financial Statistics reported by banks, but banks can’t afford to be complacent, says Douglas Cheung, examining how banks should best prepare for the reforms.
Banks should still devote time to correctly budget, resource and plan technology projects for EFS based on the new timelines.
Trying to compile all the new reports at the last minute should be avoided at all costs.