Emerging Prudential Risks

FSB Highlights NBFI, Crypto and DeFi as Key Priorities for 2023

21/02/2023

In a letter to G20 ministers, FSB chair Klaas Knot discusses commodity market vulnerabilities and work to address DeFi/crypto risks and enhance cross-border payments.

Structural Regulation

Australia Proposes to Enshrine Superannuation Objective in Law

21/02/2023

The Treasury says legislating an objective will provide stability and confidence that policy changes will be aligned with the purpose of the superannuation system.

Payments & Settlements

CPMI Offers Guidance on Extending RTGS Operating Hours

21/02/2023

Extending RTGS system operating hours across jurisdictions would facilitate faster, cheaper, more accessible and more transparent cross-border payments.

Liquidity Risk

China Tightens Rules for ‘Major’ Money Market Funds

21/02/2023

Money market funds with over CNY 200 billion in net assets or over 50 million investors will have to meet additional regulatory requirements and enhance their ability to resist risks.

Structural Regulation

Financial Firms Must Keep Better Accounting Records: NZ FMA

21/02/2023

The guidance is designed to help financial service providers address “emerging and persistent issues” in financial reporting, the FMA said.

Conduct, Culture & Accountability

Australia Proposes Enhanced Protections for SACC Consumers

21/02/2023

The amendments are designed to ensure consumers of SACCs and consumer leases are not left unable to meet their basic needs or other financial commitments.

Payments & Settlements

Singapore, India Launch Real-time Payments Linkage

21/02/2023

The service is available in Singapore via DBS and Liquid Group, and in India via Axis Bank, DBS India, ICICI Bank, Indian Bank, Indian Overseas Bank and State Bank of India.

Supervision & Enforcement

CBIRC Imposes Fines on Five Banks for Regulatory Violations

21/02/2023

China Construction Bank, Bank of China, Standard Chartered China, China Minsheng Bank and China Bohai Bank were fined a combined CNY 387.9 million.

CBDCs

RBI Launches Second Global Digital Innovation Hackathon

21/02/2023

The problem statements relate to digital banking services, priority sector lending, CBDC transactions, and blockchain scalability.