Payments & Settlements

CPMI Reviews Developments in Retail Fast Payment Systems

14/12/2021

The implementation of retail FPS across the globe has risen from under a dozen jurisdictions in 2010 to around 60 in 2021.

Data Privacy

China MIIT Issues Plans for Expansion of Big Data Industry

14/12/2021

The plan includes measures to establish a market-oriented data pricing mechanism, strengthen data governance and security, and establishment data trading platforms.

Climate Risk

BOJ to Assess Market Functioning in Relation to Climate

14/12/2021

The BOJ will gather stakeholder views on how climate-related risks and opportunities are reflected in stock and bond prices and how to develop the ESG bond market.

Payments & Settlements

SWIFT Message Translation to Facilitate ISO 20022 Migration

14/12/2021

New service translates ISO 20022 messages to MT for banks that are not ready to process ISO 20022, which goes live in November 2022.

Resolution & Recovery

FSB Takes Stock of Approaches to Operationalising Bail-in

14/12/2021

In a new paper, the FSB provides an overview of practices, operational processes and arrangements as part of the bail-in process.

Data Privacy

FSB Explores Impact of Data Regulation on Cross-border Payments

14/12/2021

The FSB seeks to better understand how data requirements relating to privacy, security, storage, sharing and retention impact cross-border payments.

Structural Regulation

RBI to Require LEI Use in Large Cross-border Transactions

14/12/2021

From 1 October 2022, AD Cat-I Banks will have to obtain LEIs from resident entities undertaking capital or current account transactions of INR 500 million and above.

Liquidity Risk

PBOC Raises Forex Reserve Requirement for Banks

14/12/2021

The move will force Chinese banks to more foreign currency at the central bank, and help to contain the renminbi’s appreciation.

Stablecoins

Parallel Myanmar Government Recognises Tether as Official Currency

14/12/2021

The pro-democracy National Unity Government has reportedly begun using Tether as a proxy for the US dollar to raise funds for a campaign to topple the military regime.