Synthetic JPY LIBOR may be used if the contracting parties agree to do so, as well as in "exceptional cases" where it is difficult to proceed with negotiations.
The FSB says transition should be "primarily to overnight RFRs" and that it is closely watching market developments regarding credit-sensitive rates.
Banks may not share customers' personal data with third parties including their own group companies for direct marketing purposes.
The FSA published the principles to catalyse further development of model risk management practices in the industry and prevent risk.
Preliminary observations from the review show that banks are increasingly considering both financial and non-financial factors when designing incentive systems.
OCBC's Aditya Gupta says digital assets will be mainstreamed into the financial ecosystem "before we know it", creating new growth opportunities and revenue streams for banks.
From 1 January 2022, overseas issuers without WVR structures will have lower minimum market cap requirements to secondary list in Hong Kong.
The initiative, known as #financing4ESG, will promote sustainable finance in Malaysia and accelerate ESG adoption among listed companies.
The programme includes work around the response to Covid-19, NBFI resilience, crypto/stablecoin/DeFi risks, climate risk, and the post-2008 crisis reforms.
The FSDC says allowing SPACs to list in Hong Kong will help to bolster the city's status as a fundraising hub for the healthcare and biotech sectors.