BIG PICTURE

Big Picture

Credit Stress Tests Critical to Safeguarding CCPs

By Editors | 03/08/2020

Stress testing is a crucial tool within a CCP’s toolbox for ensuring the stability, safety, and resilience of the financial market, says a new paper from CCP12.

Big Picture

Third Global Financial Crisis May Be Imminent: ex-HKMA Chief

By Sanday Chongo Kabange | 30/07/2020

Former HKMA head Joseph Yam worries that the world may slip into a third financial crisis due to insufficient liquidity and dwindling spending caused Covid-19.

AML / KYC

China Should Reduce SWIFT Use in Case of US Sanctions – Report

By Editors | 30/07/2020

China should prepare for potential US sanctions by increasing the use of CIPS for cross-border transactions, and by developing legislation similar to the EU’s blocking statute.

Big Picture

FMSB Examines Remote Working Risks in FICC Markets

By Editors | 28/07/2020

FMSB has published a Spotlight Review on the risks of undertaking financial services activities through new working arrangements, and measures to mitigate these risks.

Big Picture

Institute of Internal Auditors Offers Update to 3LoD Model

By Editors | 26/07/2020

The new ‘Three Lines Model’ is aimed at improving organisational structure to achieve better alignment, collaboration, and accountability among key players.

AML / KYC

New Report Highlights Ineffectiveness of Global AML/CTF Systems

By Manesh Samtani | 25/07/2020

A lot of countries may have strong AML/CTF systems in place, but in practice they are not working, says a new report from the Basel Institute on Governance.

Big Picture

Singapore Financial Sector Sees Increased Cyber Attack Frequency

By Editors | 23/07/2020

In a VMware Carbon Black report, financial services firms cited a rise in attack frequency and sophistication, with custom malware the most frequently experienced attack.

Securities / Derivatives

The Role of Derivatives Markets in Sustainable Finance

By Editors | 16/07/2020

The derivatives market can contribute in the transition towards a low-carbon economy, due its ability to facilitate capital-raising via the hedging of risks related to sustainable investments.

Big Picture

Financial System Still Vulnerable in Recovery: FSB Chair

By Manesh Samtani | 15/07/2020

Funding markets remain at risk of liquidity stress, volatility in markets may return, and assets are at risk of a “sudden and sharp” repricing.