Securities / Derivatives

WFE Highlights Challenges of Measuring CCP Margin Procyclicality

20/05/2023

The significant uncertainty in measurements means procyclicality mitigation tools can be miscalibrated, inefficient, or detrimental.

Sanctions

Price Cap Policy for Russian Oil is Working: US Treasury Report

20/05/2023

Oil revenues now account for 23 percent of the total Russian budget, compared to 30-35 percent before the war in Ukraine.

Sanctions

Australia Announces Expanded Sanctions Against Russia

19/05/2023

Entities affected include Russian state-owned atomic energy corporation Rosatom, and the country’s largest petroleum and gold companies.

AML / KYC

FATF President Calls on G7 to Act on Crypto Assets

19/05/2023

T Raja Kumar called on the G7 to “lead by example” in fully and effectively implementing the FATF Recommendations on crypto assets.

Big Picture

BSP Addresses GCash Service Disruption, Unauthorised Transactions

19/05/2023

Phishing attacks where users shared their OTPs with scammers were the root cause behind unauthorised transactions at GCash.

Fintech / Regtech

34 FIs Have Joined Swift Service for Addressing Settlement Fails

19/05/2023

The service leverages the UTI to link all Swift messages related to the same securities settlement flow in a transaction chain.

Fintech / Regtech

Korea Establishes Taskforce to Improve Data Regulations

19/05/2023

The taskforce was established to lay the groundwork for promoting “data-driven innovation” in the financial industry.

Market Infrastructure

China Inaugurates New National Financial Regulator

19/05/2023

The NFRA absorbs the CBIRC in its entirety, and takes over certain functions from the PBOC and CSRC.

Crypto / Digital Assets

NY Fed, MAS Publish Results from Cross-Border Payments Study

19/05/2023

Each simulated payment scenario achieved end-to-end settlement in under thirty seconds on average using wholesale CBDCs.