MARKET INFRASTRUCTURE

Market Infrastructure

APRA Publishes Findings From Big Banks’ BEAR Implementation Review

By Editors | 11/12/2020

CBA had the most developed approach to implement the BEAR, benefitting from the execution of its remedial action plan associated with the Prudential Inquiry.

Market Infrastructure

Data Storage Rules: A Christmas Present From the SFC

By Derek McGibney | 11/12/2020

While the SFC’s new FAQs on the use of cloud storage make compliance more manageable, licensed corporations still need to weigh their options, says Derek McGibney at Cognitive GRC.

Market Infrastructure

Singapore Set Out Timelines for Full Discontinuation of SIBOR

By Manesh Samtani | 11/12/2020

The one-month and three-month SIBOR will be discontinued by end-2024. The discontinuation of the six-month SIBOR may depend on the timing of cessation of USD LIBOR.

ESG / Sustainability

China to Ease Foreign Access to Domestic Green Finance Market

By Manesh Samtani | 11/12/2020

PBOC governor Yi Gang also said China will work to enhance its green finance standards, and explore the introduction of mandatory reporting of environmental risks by FIs.

Market Infrastructure

SFC Provides Alternative for Compliance With Data Storage Rules

By Manesh Samtani | 10/12/2020

The SFC will accept an undertaking from core function MICs as an alternative means of satisfying the requirement for a countersigned notice or undertaking from an EDSP.

Market Infrastructure

Korea to Introduce Inspections of Personal Data Handling at FIs

By Editors | 10/12/2020

The routine inspections are aimed at ensuring consistency in data protection standards in the financial sector amid a changing data industry in Korea.

Market Infrastructure

PBOC, HKMA Explore Southbound Leg for Bond Connect

By Editors | 09/12/2020

The PBOC and HKMA will form a working group to study the framework for a southbound leg of Bond Connect. No timelines have been set.

Market Infrastructure

Australian Regulators Launch Cyber Resilience Testing Framework

By Manesh Samtani | 09/12/2020

The ‘CORIE’ framework will initially run as an industry pilot programme, consisting of a small number of systemically important FIs.

Market Infrastructure

India’s RTGS System to Be Available 24×7 from Monday

By Editors | 09/12/2020

RTGS members banks are directed to inform their customers of the change and to put in place necessary infrastructure to provide RTGS around the clock.