MARKET INFRASTRUCTURE

Fintech / Regtech

SFA, Remittance Association to Jointly Strengthen SG Remittance Industry

By Editors | 22/03/2021

The SFA Remittance Sub-Committee has been launched to promote the adoption of technologies to strengthen Singapore’s money remittance industry.

ESG / Sustainability

Climate Change Will Threaten Financial Stability: PBOC

By Manesh Samtani | 22/03/2021

Climate change could impact monetary policy, credit risk, market risk and liquidity risk, and undermine the stability of the entire financial system, PBOC governor Yi Gang said.

Market Infrastructure

Japan Banks Finalise Decision to Lower Interbank Transfer Fees

By Editors | 22/03/2021

Effective from 1 October, interbank money transfer fees will be lowered to JPY 62 per transaction, the first reduction in 40 years.

Market Infrastructure

LCH Sets Dates for Conversion of SwapClear LIBOR Contracts

By Editors | 21/03/2021

Conversion of CHF, EUR and JPY LIBOR shall apply to SwapClear contracts outstanding on 3 December. Conversion of GBP LIBOR will apply to contracts outstanding on 17 December.

ESG / Sustainability

Absence of Term RFRs Could Impair Risk, Forecasting Functions

By Editors | 19/03/2021

Banking functions involving risk analytics and cash flow forecasting will need to change to accommodate risk-free rates, says Karen Moss at Moody’s Analytics.

Market Infrastructure

BOT to Continue THBFIX Publication until Mid-2023

By Editors | 18/03/2021

Banks should not undertake transactions using THBFIX from 1 July 2021 onwards. The BOT has started publishing fallback rates for THBFIX.

Market Infrastructure

RBA Keeping ‘Close Eye’ on LIBOR Transition Progress

By Manesh Samtani | 18/03/2021

Firms should not wait for a term RFR or credit-spread adjustments to reference in non-derivatives products, says RBA assistant governor Christopher Kent.

Market Infrastructure

Refinitiv to Publish Spread Adjusted SOFR for Cash Products

By Editors | 18/03/2021

Following an RFP process initiated in September, the ARRC has selected Refinitiv to publish spread-adjusted fallback rates for use in cash product contracts.

Market Infrastructure

HKMA Urges Continued Progress on LIBOR Transition Efforts

By Manesh Samtani | 18/03/2021

The HKMA’s Edmond Lau highlighted three essential elements for LIBOR transition: operational and system capabilities, effective coordination; commitment from top management.