MARKET INFRASTRUCTURE

Market Infrastructure

USD Cross-currency Derivatives to Use SOFR from 13 December

By Editors | 06/12/2021

Under part two of the second phase of SOFR First, interdealer brokers are asked to use SOFR instead of LIBOR in the USD leg of all newly-executed cross-currency derivatives.

Market Infrastructure

FSB Reports Further Progress on OTC Derivatives Reforms

By Editors | 05/12/2021

15 out of 24 FSB member jurisdictions have implemented higher capital requirements for non-centrally cleared derivatives, compared to just 8 in 2020.

ESG / Sustainability

Taiwan Issues Climate Risk Disclosure Guidelines for Banks, Insurers

By Manesh Samtani | 05/12/2021

The first disclosures are expected to be published by the end of June 2023, covering governance, strategy, risk management, and metrics and targets.

Market Infrastructure

Thai SEC to Enhance Capital Market Resilience to Cyber Risk

By Editors | 04/12/2021

Under revised rules, market participants are required to and enhance cybersecurity control measures, vulnerability assessments, penetration testing and third-party access controls.

ESG / Sustainability

BOJ Outlines Three ‘Essential’ Elements of Climate Response

By Mark Johnston | 03/12/2021

BOJ governor Haruhiko Kuroda discussed scenario analysis, sustainable finance, and enhanced disclosures.

Capital / Liquidity

CBIRC Issues Clarification on Close-out Netting Enforceability

By Manesh Samtani | 02/12/2021

The CBIRC seeks to clarify the enforceability of close-out netting in China, saying the labelling of the country as a “non-netting jurisdiction” has harmed its financial institutions.

Capital / Liquidity

FSB Offers Guidance on Enhancing G-SIB Crisis Preparedness

By Editors | 01/12/2021

The FSB identifies good practices to help authorities enhance their preparedness for the management and resolution of a crisis affecting a G-SIB.

Market Infrastructure

Refinitiv Launches USD IBOR Institutional Cash Fallbacks

By Editors | 01/12/2021

Fallbacks for institutional cash products are now production benchmarks. Prototype fallbacks for consumer cash products will be launched on 3 January 2022.

Market Infrastructure

Wealth Connect to be Refined, Expanded Over Time: HKMA

By Mark Johnston | 01/12/2021

Account opening by attestation is expected to be piloted for the WMC’s Northbound scheme, allowing Hong Kong investors to participate without having to travel.