Payments & Settlements

BIS Innovation Hub Completes Project Nexus Proof-of-Concept

23/03/2023

The next phase of Nexus will connect the instant payment systems of Singapore, Indonesia, Malaysia, Philippines and Thailand.

Climate Risk

IASB to Explore How Financial Statements Could Better Reflect Climate Risks

23/03/2023

The IASB will ensure any proposals work well with the IFRS Sustainability Disclosure Standards due to be issued by the end of Q2 2023.

Trading & Investment

Korea to Launch Online Deposit Product Brokerage Service in June

23/03/2023

The service will allow consumers to compare and receive recommendations for deposit products from various FIs.

Liquidity Risk

Yellen Not Considering ‘Blanket Insurance’ for US Bank Deposits

23/03/2023

Regulators are reviewing banking risks on a case-by-case basis. The FDIC would only step in to protect all depositors if there are systemic or contagion risks.

Reporting & Disclosures

Biden Blocks Anti-ESG Bill; Texas to Divest from HSBC

23/03/2023

HSBC was added to a list that will requires state governmental entities in Texas to divest from all of the bank’s publicly traded securities within 360 days.

Cryptocurrency

Eurex to Launch Europe’s First Bitcoin Futures Contract

23/03/2023

The contract, developed in partnership with FTSE Russell and Digital Asset Research, will launch on 17 April 2023.

Structural Regulation

SFC Publishes “Quick Reference” Licensing Guides

23/03/2023

The quick reference guides are intended to encourage more family offices and private equity businesses to operate in Hong Kong.

Cryptocurrency

US Authorities Consider Taxing NFTs as Collectibles

23/03/2023

Under the US tax code, collectibles are subject to a 28% capital gains tax rate, compared to 20% for stocks, bonds and cryptocurrencies.

Reporting & Disclosures

Malaysia to Launch Sustainability Reporting Platform in April

23/03/2023

UMW Corp and Maybank will be early adopters of the platform, which was developed by Bursa Malaysia in collaboration with LSEG.