MARKET INFRASTRUCTURE

AML / KYC

Westpac Unveils Change Programme to Fix Risk Culture

By Editors | 19/07/2020

Westpac says aspects of its nonfinancial risk culture are “immature and reactive”, and that the bank is “overly complex”, resulting in unclear accountabilities and challenges in execution.

Market Infrastructure

Hong Kong Regulators Offer Assurances on National Security Law

By Editors | 19/07/2020

Financial Secretary Paul Chan has asked Hong Kong financial regulators to explain to their stakeholders that the national security law will not harm their operations.

Enforcement

ESMA Opens Probe Into Germany’s Wirecard Response

By Editors | 19/07/2020

ESMA’s fast track assessment will focus on whether BaFin and accounting watchdog FREP properly applied European guidelines on enforcing the reporting of financial information.

Capital / Liquidity

Indonesia Gives Deposit Insurer Powers to Prevent Bank Failures

By Editors | 19/07/2020

The Indonesia Deposit Insurance Corporation can now raise its own funding and provide temporary liquidity support to banks outside of resolution.

Market Infrastructure

Korea Credit Bureau to Integrate Pension Payments in Credit Scores

By Editors | 19/07/2020

Pension contributions data will be converged with KCB credit data using homomorphic encryption, technology which allows data analysis to be performed on encrypted data stored at different institutions.

Market Infrastructure

Optimising the Libor Switch with Portfolio Compression

By Editors | 17/07/2020

TriOptima’s multilateral approach to portfolio compression is helping the sell-side and buy-side alike to reduce Libor risk, optimise capital, and enhance operational efficiency.

Market Infrastructure

MAS Planning Ahead to Avoid ‘Cliff Effect’ of Relief Withdrawal

By Editors | 16/07/2020

“Bank loans and insurance policy premiums will eventually have to be paid,” MAS’ Ravi Menon said, pointing to a need to avoid the ‘cliff effects’ of sudden relief withdrawal.

Market Infrastructure

Australia Mulls Measures to Establish Regional Financial Hub

By Editors | 16/07/2020

Australian Senator Andrew Bragg wrote to Treasurer Josh Frydenberg suggesting reforms to capitalise on Hong Kong’s recent political changes.

Securities / Derivatives

The Role of Derivatives Markets in Sustainable Finance

By Editors | 16/07/2020

The derivatives market can contribute in the transition towards a low-carbon economy, due its ability to facilitate capital-raising via the hedging of risks related to sustainable investments.