Structural Regulation

ISDA Releases Final Report on Benchmark Fallbacks Consultation

24/12/2018

ISDA will proceed to develop fallbacks based on the ‘compounded setting in arrears rate’ and the ‘historical mean/median approach to the spread adjustment’.

Structural Regulation

S. Korea to Accept Internet-Only Bank Applicants in March

24/12/2018

Two new internet banks will be granted preliminary regulatory approval by May, allowing them to provide loans to consumers, households and SMEs, but not to corporates.

Clearing & Post-Trade

LSEG Technology Announces New Post-Trade Functionality at SGX

24/12/2018

The new settlement and depository system enables SGX and market participants to align to global market practices, messaging standardisation and T+2 settlement.

Clearing & Post-Trade

KRX May Face CFTC Penalty for Violating CCP Rules – Report

21/12/2018

Korean media reports indicate the CFTC may take action against KRX as early as this month in response to its failures to comply with regulations for CCPs.

Capital Adequacy

India Seeks Parliamentary Approval to Infuse More Capital into Banks

21/12/2018

The government plans to pump $11.8 billion into public sector banks to raise them out of the RBI’s PCA framework and increase the banking system’s lending capacity.

Conduct, Culture & Accountability

Licensees Should Avoid Employee Allocations in Equity Raising – ASIC

21/12/2018

Following a review of allocations practices in equity raising transactions, ASIC said allocations to employees should be avoided as they can present conflicts of interest.

Market Risk

S. Korea to Adopt IRRBB Standards in Mid-2019

21/12/2018

The FSS plans to revise banking supervision bylaws during Q1 2019, with implementation of IRRBB at domestic banks expected in mid-2019.

Payments & Settlements

All SWIFT Banks to Adopt gpi Payments by End-2020

20/12/2018

Over half of SWIFT’s cross border traffic now goes through as gpi payments, with full adoption by its 10,000 member banks expected by end-2020.

Conduct, Culture & Accountability

HKMA to Require Banks to Report on Culture Reform

20/12/2018

First phase of bank culture self-assessments will cover about 30 institutions, including all major retail banks and selected foreign bank branches.