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Market Infrastructure
SWIFT Developing Low-Value Cross-Border Payments Service
By Editors | 02/10/2020
The new initiative will improve the payments experience for consumers and SMEs, making them faster, more transparent, easier and competitively priced.
ESG / Sustainability
HKMA Pushes Forward Green & Sustainable Banking Initiatives
By Manesh Samtani | 01/10/2020
A pilot climate stress testing exercise involving Hong Kong banks will commence early next year. A local green taxonomy is under development.
Market Infrastructure
CHESS Replacement ‘Critical’ to Manage Systemic Risk: RBA
By Editors | 01/10/2020
Replacing CHESS with more modern technology is critical to ASX’s ongoing management of systemic risk, said RBA assistant governor Michele Bullock.
Market Infrastructure
Hardware Failure Causes Full Day Closure at Tokyo Exchange
By Editors | 01/10/2020
The TSE apologised for inconvenience caused to investors and said it is replacing the faulty hardware. Trading is expected to resume Friday.
Market Infrastructure
SONIA Quoting Conventions to be Adopted in UK Swaps Market
By Editors | 01/10/2020
Interdealer brokers should base quotes in the sterling swaps market on SONIA rather than LIBOR from 27 October, the FCA and BOE say.
Market Infrastructure
DBS, ICBC Issue First Club Loan Pegged to SORA
By Editors | 01/10/2020
The SORA-pegged club loan coupled with a cross-currency swap, which provides added certainty on interest rates and swap SGD proceeds into USD.
Fintech / Regtech
MAS Orders Wirecard Entities to Cease Singapore Payment Services
By Editors | 30/09/2020
Wirecard has informed MAS that it is unable to continue providing payment processing services to a significant number of merchants.
Market Infrastructure
APRA Resumes Consultation on Confidentiality of ADI Data
By Editors | 29/09/2020
APRA proposes that ADI data related to capital adequacy, liquidity, asset quality, financial statements, and financial performance be determined non-confidential.
AML / KYC
The New Cold War Is Financial
By Tom Keatinge | 29/09/2020
Banks and financial infrastructure are emerging as an expanding front in geopolitics, writes RUSI’s Tom Keatinge.
Big Picture
IBOR Phase-out Plans on Track Despite Covid: Moody’s
By Manesh Samtani | 29/09/2020
But challenges remain, including limited liquidity in ARR markets, uncertainties on term rates and credit spread adjustments, and operational issues.
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