Market Infrastructure

BIS Paper Presents Alternative to Forward-looking Term Rates

12/10/2020

Many banks have adopted a “wait and see” approach to the LIBOR phase-out, waiting to forward-looking term rates based on RFR derivatives to become available.

AML / KYC

AUSTRAC Publishes Financial Crime Guide on Illegal Wildlife Trade

11/10/2020

The guide offers indicators FIs can use in profiling and transaction monitoring to target, identify and stop financial transactions associated with illegal wildlife trafficking.

Market Infrastructure

GBA Regulators Advance Policy Work on Cross-border Mortgages

11/10/2020

The HKMA’ Edmond Lau says encouraging progress has been made to allow Hong Kong banks to provide cross-border mortgage services in the Greater Bay Area.

Fintech / Regtech

BSP Revises Minimum Capital Requirement for Digital Banks

08/10/2020

The BSP will no longer consider a distinction between a basic and advance digital bank, according to a revised circular issued for industry review and feedback.

Market Infrastructure

Tradition Executes First HONIA-SOFR Cross Currency Basis Swap

08/10/2020

The trade provides a foundation for the structure of cross-currency swaps that use SOFR and the local ARR, in this case HONIA.

ESG / Sustainability

SGX to Migrate MSCI Taiwan Contracts to FTSE Early

07/10/2020

The move is reportedly aimed at avoiding potential operational issues as market uncertainty persists into the end of the year.

ESG / Sustainability

Singapore Banks to Develop Trade Finance Registry to Combat Fraud

06/10/2020

DBS and StanChart are leading a project to develop a central registry which will prevent borrowers from using the same collateral to secure loans with multiple banks.

Market Infrastructure

APRA Commences Roll-out of New Risk Supervision Model

06/10/2020

The move to the new Supervision Risk and Intensity Model could lead to a change in the intensity of supervision that APRA applies for some entities.

Fintech / Regtech

Fusion Bank Kicks Off Virtual Banking Soft Launch

05/10/2020

Under the HKMA’s sandbox, Fusion Bank will provide savings and time deposits, local fund transfers, payments, and become the first virtual bank to offer FX services.