Payments & Settlements

Cambodia Establishes Common National Standard for QR Payments

12/07/2022

NBC intends to use the new KHQR system to facilitate cross-border payments within the region in future.

Structural Regulation

Australia to Explore Unintended Impacts of Super Reforms

12/07/2022

In light of the upcoming review, the government will pause a planned extension of APRA’s performance tests beyond MySuper products for 12 months.

CBDCs

New Report Offers Guidance to Central Banks on CBDC Design

12/07/2022

A report from CPMI, BISIH, IMF and World Bank assesses the options for access to and interoperability of CBDCs, to ensure they improve cross-border payments.

Fraud, Scams & Cybercrime

Crypto Firm Celsius Network Accused of Running Ponzi Scheme

12/07/2022

A lawsuit filed by a former Celsius money manager says the company mismanaged customer funds, failed to perform basic internal auditing, and manipulated crypto-assets.

Capital Adequacy

HKMA Issues Revised Capital Adequacy Ratio Return

12/07/2022

The changes are mainly to cater for banks’ reporting of equity investments in funds in accordance with the requirements that came into effect on 1 July.

Payments & Settlements

India Enables Rupee Settlement Mechanism for International Trades

12/07/2022

The mechanism allows international trades to be invoiced and settled using the rupee, enabling India to buy Russian oil without US sanctions exposure.

Payments & Settlements

CPMI Offers Global Framework for Interlinking Payment Systems

12/07/2022

The growing use of APIs and the adoption of ISO 20022 have opened up new possibilities for facilitating payment system interlinking, CPMI says.

Conduct, Culture & Accountability

FSC Korea to Strengthen Financial Consumer Protection Act

12/07/2022

The FSC intends to amend the Act to allow only exceptional cases of consumer solicitation, where consent is obtained from the customers in advance.

Conduct, Culture & Accountability

HKMA Issues Bank Guidance on Selling Protection Linked Plans

12/07/2022

Banks should discuss their plans for selling PLP with the HKMA and the details of pre-implementation reviews conducted by an independent party.