Crypto / Digital Assets

RBI to Make CBDC QR Codes Interoperable With UPI System

09/06/2023

The RBI issued the e-rupee as a pilot project late last year. Deputy governor T Rabi Sankar 1 million customers will be active on the CBDC by end-of-month.

Big Picture

FMSB Publishes Spotlight Review on “3 Lines” Model

09/06/2023

The FMSB review calls for the 3 Lines Model to be repositioned as a lens for examining risk management frameworks.

Fintech / Regtech

BIS Develops Smart Contract Prototype for SME Finance

09/06/2023

The prototype was developed as part of Project Dynamo, a collaboration between BIS Innovation Hub and HKMA to explore the use of digital tokens in supply chain finance for SMEs.

Market Infrastructure

KRX Derivatives to Start Trading 15 Minutes Earlier from 31 July

09/06/2023

Currently, the derivatives market opens at the same time as the stock market, which increases the volatility in the first 15 minutes of trading each day.

Capital / Liquidity

Chinese Banks Directed to Lower Deposit Rates – Reports

08/06/2023

Lower deposit rates are expected to enable banks to provide more credit support to the economy.

Securities / Derivatives

RBI Permit Banks to Offer Non-deliverable FX Derivatives to Resident Indians

08/06/2023

HSBC India executed its first non-deliverable FX derivative transaction with Reliance Industries just a day after the RBI’s policy change.

Fintech / Regtech

Cambodia, Thailand Launch Second Phase of QR Payments Link.

07/06/2023

Thais visiting Cambodia can use their mobile banking apps to make cashless payments by scanning KHQR codes displayed by merchants.

Market Infrastructure

OSTTRA Completes First Multilateral Conversions of SOR Currency Swaps

07/06/2023

DBS, OCBC and UOB participated in OSTTRA’s first multilateral conversion of USD/SGD swaps from SOR to SORA.

Sanctions

OFAC Sanctions Chinese and HK Firms in Iranian Procurement Network

07/06/2023

The sanctions came the same day Iran unveiled its first hypersonic ballistic missile, which cannot be detected and tracked by existing sensor systems.