Market Infrastructure

HKMA Publishes Findings from Bank Culture Reform Initiative

24/05/2020

As a next step, the HKMA will conduct more focused reviews on retail banks’ front office in relation to the distribution of banking, investment and insurance products.

Capital / Liquidity

‘Now is the Time’ for Banks to Use Buffers: APRA, RBA

21/05/2020

APRA’s Wayne Byres and the RBA’s Philip Lowe said buffers were built up to be used in times of stress, and lower capital ratios are both expected and appropriate.

Securities / Derivatives

LCH Launches Central Clearing for Derivatives Referencing SORA

19/05/2020

The launch is heralded as a major milestone to deepen liquidity and catalyse the growth of the SORA market. StanChart was party to the first cleared derivatives trade referencing SORA.

Securities / Derivatives

HKMA, SFC to Jointly Review OTC Product Pricing at Intermediaries

19/05/2020

The thematic review will assess the spreads intermediaries charge for non-exchange traded investment products such as bonds and structured products.

AML / KYC

FSI Takes Stock of Official Sector Response to Rising Financial Crime

17/05/2020

There are trade-offs between expecting FIs to enhance or adjust their cyber resilience and AML frameworks, versus avoiding excessive burdens that could hinder the delivery of key financial services.

Market Infrastructure

EU Banking Bodies Request Delay of T2-T2S Consolidation Project

17/05/2020

The associations have cited impacts from Covid-19 and SWIFT’s decisions to delay ISO 20022 migration for cross-border payments as the primary reasons for the requested delay.

Big Picture

BIS Calls for Global Cooperation to Mitigate ‘Green Swan’ Risks

14/05/2020

More global coordination is needed to foster change in methodologies and mindsets to deal with global green swan risks, says a new BIS paper.

Big Picture

All Firms Are Taking Steps to Align Compensation With Risk: FSB

12/05/2020

Banks, insurers and asset managers are increasingly making use of non-financial metrics and better data to assess compensation policy effectiveness and align compensation with risk.

Securities / Derivatives

Japan’s New Foreign Investment Rules Take Effect

10/05/2020

While a series of exemptions for foreign financial institutions have been granted, the new requirements only allow 30 days for full implementation on 7 June.