Fintech / Regtech

SWIFT, HSBC to Define Common API Standard for Hong Kong

04/10/2019

The new standard will re-use ISO 20022 components to ensure interoperability with Hong Kong’s clearing and settlement systems, facilitating the next phases of open banking in the city.

Big Picture

Hong Kong Making Slow Progress on Open Banking: S&P

03/10/2019

S&P Global Ratings says Hong Kong’s approach to open banking makes it hard for third-party service providers to participate, limiting the potential of the new digital ecosystem.

Market Infrastructure

FMSB Issues Good Practice Statements on Information Confidentiality

03/10/2019

The FICC Markets Standards Board offers guidance to help fixed income and commodities market participants understand what information can be shared, internally and otherwise.

Capital / Liquidity

Basel III Monitoring Report Shows Shrinking TLAC Shortfalls

03/10/2019

Based on the 2022 requirements, two of 24 G-SIBs reporting TLAC data have a combined shortfall of €32.6 billion , less than half the shortfall reported six months earlier.

Fintech / Regtech

BSP Streamlines Rules for Payment System Operators

03/10/2019

The Philippine central bank has simplified the registration process for payment system operators, and created a new consolidated manual of regulations to facilitate compliance.

Securities / Derivatives

IOSCO Publishes Updates on MMF, Securitisation Regulation

03/10/2019

The reports describe progress by IOSCO members to adopt legislation, regulation and other policies covering MMF and securitisation, considered priority reform areas by the G20.

Capital / Liquidity

China to Cap Loan Loss Provisioning at Banks

03/10/2019

The move is aimed at preventing an accounting practice the Finance Ministry says banks use to hide profits and dodge taxes and dividends.

AML / KYC

APG Publishes Final Mutual Evaluation Report for Taiwan

03/10/2019

Taiwan has achieved very significant progress in a short period of time, and supervisors have significantly influenced compliance in a positive way, the APG says in its mutual evaluation report.

Market Infrastructure

Australia Commissions Review of Retirement Income System

02/10/2019

The review has sparked concerns about whether superannuation could be made voluntary, amid guarantee increases until 2025 that may end up squeezing workers’ wages.