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ESG / Sustainability
FINMA to Require Banks, Insurers to Disclose Climate Risks
By Editors | 02/06/2021
New disclosure rules will enter into force on 1 July, requiring large banks and insurers to disclose climate-related financial risks.
Market Infrastructure
CBIRC Issues Final Rules on Evaluating Bank Director Performance
By Sanday Chongo Kabange | 02/06/2021
The new rules, effective 1 July, will strengthen and standardise performance evaluations of directors and supervisors of banks and insurers, the CBIRC said.
Market Infrastructure
Hong Kong, Shanghai Announce First ETF Cross-Listings
By Editors | 02/06/2021
The ETF cross-listing mechanism provides Chinese investors another avenue to access the Hong Kong market besides Stock Connect.
Market Infrastructure
FSB Proposes Global Targets for Enhancing Cross-border Payments
By Editors | 01/06/2021
The FSB proposes quantitative targets for improving cost, speed, transparency and access for cross-border wholesale payments, retail payments and remittances.
Capital / Liquidity
PBOC Tightens FX Market Liquidity to Curb Speculation
By Manesh Samtani | 01/06/2021
The PBOC has raised the RRR for foreign currency deposits for the first time in 14 years and asked enterprise and FIs not to engage in FX speculation.
Market Infrastructure
MAS Issues Consultation Response on Credit Reporting Regulations
By Manesh Samtani | 01/06/2021
Licensed credit bureaus will be required to establish a Code of Conduct and comply with requirements on technology risk management and cyber security.
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.
Market Infrastructure
DBS, StanChart Execute First SORA Interbank Option Trade
By Editors | 31/05/2021
The interbank option trade was executed to manage market risk arising from a SORA interest rate option, which was also an industry first.
ESG / Sustainability
G7 to Agree Global Corporate Tax at July Meeting – Report
By Editors | 31/05/2021
A G7 draft communique said a global minimum corporate tax will be agreed to help alleviate the strain on public finances.
Market Infrastructure
Global Banks Form Steel Decarbonisation Working Group
By Editors | 31/05/2021
Six banks will define common standards of action for steel sector decarbonisation through a collective climate-aligned finance agreement.
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