Market Infrastructure

Central Bank to Discontinue Sri Lanka Inter-Bank Offered Rate

27/02/2020

This decision reflects the lack of SLIBOR’s usage of in benchmarking loan products in the domestic financial market, along with a global trend of phasing out IBORs.

Fintech / Regtech

FSC Korea Unveils Policy Initiatives to Promote Fintech, Digital Finance

27/02/2020

South Korea’s FSC has announced new policy measures in five key areas to promote fintech and digital finance, and establish a stronger foundation for financial sector innovation.

Enforcement

ASIC Reveals Sharp Increase in Investigations Involving Major FIs

27/02/2020

As of 1 January, ASIC had 316 investigations on foot related to misconduct. Cases involving CBA, NAB, Westpac, ANZ and AMP increased 52% from 12 months earlier.

Market Infrastructure

BOE to Increase Haircuts on LIBOR-linked Collateral from October

27/02/2020

The market need to see a decisive acceleration in effort in 2020 to ensure risk-free rates are adopted and LIBOR is left behind for good, the BOE’s Andrew Hauser said.

Market Infrastructure

RBNZ Launches New Payment Settlement System

27/02/2020

Replacing a 20-year old system, the new payment settlement platform comprises an RTGS system known as ESAS 2.0 and a central securities depository called NZClear 2.0.

Market Infrastructure

Australia Finalises ISO 20022 Migration Approach for Payment System

27/02/2020

From November 2021, all intermediaries for incoming cross-border payments must be able to receive ISO 20022 enhanced message content, and to pass on those messages in full.

Securities / Derivatives

HK FSDC Survey Highlights Regulatory Challenges in Wealth Management

26/02/2020

Survey and focus group participants highlighted KYC challenges, a lack of clarity on client suitability requirements, and overly onerous investor protection measures impeding professional investors.

Bangladesh Bank Caps Lending Rate at 9pc, Effective in April

26/02/2020

Bangladesh Bank has instructed banks to set a maximum 9 percent interest rate on all loan products except credit cards by 1 April.

Market Infrastructure

Myanmar Credit Bureau to Commence Operations in April

26/02/2020

It will take up to one year for the credit bureau to collect sufficient and meaningful credit data on local businesses before it will be provided to lenders.