Market Infrastructure

Market Infrastructure

China to Develop Digital Trade, Cross-border Payments

By Darien Choong | 25/10/2021

Under a new five-year plan for trade in services, China will upgrade CIPS and further develop cross-border payments and financing.

Market Infrastructure

Global Fund Association Calls on SEBI to Delay T+1 Implementation

By Editors | 25/10/2021

To support T+1 settlement, FPIs and their service providers would need to completely re-engineer the settlement and funding process, ICI says in a letter to SEBI.

ESG / Sustainability

New Zealand Passes Climate Reporting Legislation in World First

By Sanday Chongo Kabange | 24/10/2021

Mandatory climate disclosures will be required from early 2024, for annual reporting periods that start on or after 1 January 2023.

AML / KYC

Inconsistent AML Approaches Cause Cross-border Payment Frictions

By Editors | 23/10/2021

The FATF says inconsistent implementation of AML/CFT requirements increases cost, reduces speed, limits access and reduces transparency in cross-border payments.

Market Infrastructure

MAS Consults on Revisions to BCM Guidelines

By Manesh Samtani | 23/10/2021

The guidelines emphasise the need for FIs to take an end-to-end view in ensuring the continuous delivery of critical business services and functions.

Market Infrastructure

AFMA Calls for Removal of ‘LIBOR Cap’ Imposed on Foreign Banks

By Editors | 22/10/2021

AFMA is concerned that the LIBOR Cap will be replaced with a capping mechanism to be determined solely by the ATO.

ESG / Sustainability

UPDATED – Chinese Banks Declare Support for Biodiversity Protection

By Editors | 21/10/2021

36 Chinese banking and financial institutions, 24 foreign banks and international organisations have jointly signed a biodiversity protection declaration.

Market Infrastructure

US Regulators Publishes Guidance on ‘Orderly’ LIBOR Transition

By Sanday Chongo Kabange | 21/10/2021

A draw on an existing agreement that is legally enforceable, such as a committed credit facility, would not be viewed as a new contract.

Market Infrastructure

BSE India to Offer T+1 Settlement from 3 January 2022

By Sanday Chongo Kabange | 21/10/2021

BSE has told members and vendors to make necessary changes to their trading applications to ensure T+1 is supported.