MARKET INFRASTRUCTURE

Capital / Liquidity

RBI Adopts New Measures to Ease Covid-19 Financial Stress

By Editors | 06/08/2020

A new resolution framework will allow banks to continue to maintain the ‘standard’ classification for corporate borrowers in resolution rather than downgrade the account, among other measures.

Market Infrastructure

Australia Unveils Cyber Security Strategy for 2020

By Editors | 06/08/2020

Law enforcement will receive funding to bolster its ability to go after cyber criminals, complemented by the use of AUSTRAC’s financial intelligence expertise to target their profits.

Market Infrastructure

BCBS Proposes Principles to Promote Operational Resilience at Banks

By Manesh Samtani | 06/08/2020

The principles aim to increase bank resilience to operational risk shocks, such as those arising from pandemics, cyber incidents, technology failures and natural disasters.

Market Infrastructure

Westpac to ‘Proactively’ Switch Merchants to Least Cost Routing

By Editors | 06/08/2020

The RBA has signalled it was considering taking regulatory action to force banks to move faster in moving merchants from Mastercard and Visa to lower cost networks.

Securities / Derivatives

ASX Concludes Consultation on CHESS Replacement Timeline

By Editors | 05/08/2020

A four-week consultation on a new timeline for the CHESS replacement project has found that 91% of users can be ready by April 2022.

Market Infrastructure

MAS Announces New Initiatives to Support SORA Adoption

By Editors | 05/08/2020

The initiatives aim to catalyse greater activity in SORA markets, safeguard the benchmark’s integrity and enhance market confidence in SORA.

Market Infrastructure

APAC Firms Lag in IBOR Transition Preparation – Report

By Manesh Samtani | 05/08/2020

Apart from G-SIBs operation in the region, APAC firms are not prepared for the transition away from IBORs, according to a new report from Sia Partners.

Market Infrastructure

HKMA Defers Trade Facility Repayments by a Further 90 Days

By Editors | 05/08/2020

Banks have agreed to allow corporate customers who still face cash-flow pressures to further extend their trade facilities for a further 90 days, on top of the 90 days granted from May.

Big Picture

Regulatory Fragmentation in Markets Undermines Economic Recovery

By Manesh Samtani | 05/08/2020

Fragmentation introduces distortions and inefficiencies, undermining financing when it is needed to facilitate the recovery from Covid-19, ASIFMA says in a new report.