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ESG / Sustainability
BOJ to Assess Market Functioning in Relation to Climate
By Editors | 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.
AML / KYC
IMF, WB Propose Framework for Assessing Remittance Corridor Risk
By Sanday Chongo Kabange | 14/12/2021
Corridor risk assessments will help to simplify AML/CFT and CDD measures in lower-risk remittance transactions.
Market Infrastructure
SWIFT Message Translation to Facilitate ISO 20022 Migration
By Editors | 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.
Market Infrastructure
SAFE Issues Conduct Guidelines for Foreign Exchange Market
By Darien Choong | 14/12/2021
The guidelines require market participants to process customer transactions in a “fair, transparent and honest” manner and guard against conflicts of interest.
ESG / Sustainability
Bangko Sentral’s ‘Deliberate Approach’ to Sustainable Finance
By Mark Johnston | 14/12/2021
Deputy governor Chuchi Fonacier explains the BSP’s policy approach to sustainability, highlighting the central bank’s role as an ‘enabler’, ‘mobiliser’ and ‘doer’.
Market Infrastructure
FSB Explores Impact of Data Regulation on Cross-border Payments
By Editors | 14/12/2021
The FSB seeks to better understand how data requirements relating to privacy, security, storage, sharing and retention impact cross-border payments.
Crypto / Digital Assets
Australia Unveils Plans to Reform, Modernise Payments System
By Sanday Chongo Kabange | 14/12/2021
The government plans to establish a licensing regime for crypto exchanges, a custody regime for digital assets, and explore the feasibility of a CBDC.
Market Infrastructure
RBI to Require LEI Use in Large Cross-border Transactions
By Editors | 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.
Big Picture
BIS Calls for Interoperability in Global Payment Systems
By Sanday Chongo Kabange | 14/12/2021
Failure to achieve interoperability between payment systems has material costs and risks fragmenting the global financial system.
Capital / Liquidity
RBI Loosens Rules on Bank Management of Overseas Units
By Manesh Samtani | 13/12/2021
The RBI will also introduce new rules for how banks classify and value their investment portfolios, and how payment systems charge their customers.
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