Big Picture

AML / KYC

Financial Crime Compliance Costs to Reach $213.9bn for 2021

By Editors | 12/06/2021

KYC for onboarding and customer risk profiling were cited as the biggest challenges for APAC financial institutions in a LexisNexis Risk Solutions study.

Big Picture

WEF Publishes ‘Policy-maker Toolkit’ for Decentralised Finance

By Sanday Chongo Kabange | 10/06/2021

The report offers a range of policy actions that can be adopted for DeFi, ranging from the introduction of new licence types and imposing prohibitive measures to doing nothing at all.

Capital / Liquidity

IMF Reaffirms Hong Kong Stability, Identifies Pockets of Risk

By Manesh Samtani | 10/06/2021

The IMF recommends enhancing monitoring of lending to Mainland China, increasing oversight over banking groups, and regulating mortgage lending by non-banks.

Big Picture

MAS Sets Out Climate Strategy in Inaugural Sustainability Report

By Manesh Samtani | 09/06/2021

Five asset managers have been appointed to manage S$1.8bn of Singapore’s official foreign reserves under new mandates focused on climate change and the environment.

Big Picture

BOE Issues Paper Exploring New Forms of Digital Money

By Sanday Chongo Kabange | 09/06/2021

The BOE seeks feedback on the discussion paper as it examines how CBDCs and stablecoins could impact the financial system and wider economy.

AML / KYC

Addressing Sanctions Risk in Maritime Trade

By Manesh Samtani | 02/06/2021

Banks facilitating transactions involving maritime trade must put in place systems and processes to detect illicit activity that could result in a breach of sanctions regulations.

Capital / Liquidity

CCP12 Calls for Global Coordination on Basel III Timelines

By Editors | 01/06/2021

Divergences of local implementation timelines could have unintended knock-on effects on certain bank and bank-affiliated clearing members.

Big Picture

NGFS Publishes Preliminary Findings on Climate-related Data Gaps

By Editors | 26/05/2021

The availability of reliable climate-related data requires swift progress on disclosures, global taxonomy, and transparent and quality-assured metrics, the NGFS says.

Big Picture

IIF, ISDA Release Study on Financial Sector Support During Pandemic

By Manesh Samtani | 26/05/2021

The report recognises the actions of central banks, financial authorities and regulatory agencies amid the pandemic, saying they were critical in stabilising markets.