Market Infrastructure

HKMA Further Enhances RMB Liquidity Facility

25/07/2022

The enhancements will increase the size of the RMB Liquidity Facility, streamline its operation, and reduce the rates applicable to overnight repo.

Fintech / Regtech

ACCC Launches Free Sandbox for CDR Participants

25/07/2022

The CDR sandbox will reduce the time and cost firms spend trying to become active CDR participants and updating their CDR offerings.

Capital / Liquidity

China Authorities Work to Quell Mortgage Boycott Concerns

24/07/2022

A property developer bailout fund is being set up. Banks are told to raise capital and help finance the completion of property projects.

Big Picture

ECB Calls Out Crypto Assets for ‘Outsized Carbon Footprint’

24/07/2022

The ECB calls on investors and financial institutions to evaluate whether crypto undermines their ESG objectives and climate strategy.

Market Infrastructure

Fed Consults on Default Rules for Legacy LIBOR Contracts

24/07/2022

The rules would implement a law enacted earlier this year that provides a uniform solution for replacing LIBOR references in contracts without adequate fallback provisions.

Enforcement

UK FRC Scrutinises Audit Firms’ Exam Cheating Controls

24/07/2022

The UK Financial Reporting Council asked 7 audit firms to detail the controls that are in place to prevent and detect cheating in professional exams.

Capital / Liquidity

RBI Imposes Restrictions on Two Cooperative Banks

24/07/2022

The RBI said depositors of the two banks may not with funds, but they may use their deposits to set off loans.

ANZ Faces Regulatory, Industry Scrutiny Over Proposed Suncorp Deal

24/07/2022

ANZ will need approval from the ACCC, the Federal Treasurer and Queensland officials. The Finance Sector Union is calling for the deal for be rejected.

Crypto / Digital Assets

ISSA Finds ‘Major Upsurge’ in DLT Use in Financial Markets

24/07/2022

Over 30% of the industry using DLT in live production, finds ISSA survey, conducted by the ValueExchange with support from Accenture, Broadridge and VMWare.