Market Infrastructure

ARRC Issues Transition Guidance for Legacy LIBOR Cash Products

11/07/2022

The LIBOR Legacy Playbook will help market participants transition legacy LIBOR cash products. Refinitiv will publish fallback rates based on the CME Term SOFR rates in September.

ESG / Sustainability

Bangladesh Infrastructure Loans to Require E&S Assessments

11/07/2022

Environmental and social impact assessments will have to be arranged by borrowers and submitted with their loan applications.

Crypto / Digital Assets

US Treasury Outlines Approach to International Engagement on Crypto

11/07/2022

The US will promote the adoption and implementation of international standards while ensuring a “coordinated message” and limiting duplication of work.

Capital / Liquidity

ECB Climate Stress Test Finds Bank Practices Lacking

11/07/2022

60% of banks don’t have a climate risk stress testing framework. Only 20% of banks consider climate risk when granting loans.

FSC Korea to Boost Interest Rate Transparency in Banking Sector

11/07/2022

Banks will be required to publicly disclose their lending rates, deposit rates, and net interest spreads, to allow consumers to make quick comparisons.

AML / KYC

RBNZ Issues Formal Warning to BNZ Over AML Rule Breaches

11/07/2022

A coding error caused NAB-owned Bank of New Zealand to report incorrect locations to the FIU for around 50,000 domestic physical cash transactions.

Market Infrastructure

FSB Urges Adoption of LEI in Cross-border Payments

10/07/2022

Using the LEI in cross-border payments could facilitate straight-through processing, reduce costs, increase transaction speeds, and facilitate KYC compliance.

Capital / Liquidity

RBI Announces Measures to Cushion Falling Rupee

09/07/2022

The RBI has exempted FPIs from a cap on investments in government securities and corporate bonds. FPIs can also buy short-duration corporate debt.

AML / KYC

Chinese Phonemaker Vivo Accused of Evading Tax in India

09/07/2022

Vivo is alleged to have made remittances via Hong Kong to China to disclose losses in India and avoid domestic tax payments.