Market Infrastructure

Market Infrastructure

Hong Kong FSDC Proposes to Allow Tax Offsets Within Group Structures

By Sanday Chongo Kabange | 10/08/2020

The proposed reforms would allow financial services groups operating in Hong Kong to offset the profits of one group company against losses in another.

Market Infrastructure

Japan Proposes Mid-2021 Cut-off on New LIBOR Loans, Bonds

By Manesh Samtani | 10/08/2020

Feedback is sought on fallbacks for cash products referencing JPY LIBOR. Under the plan, issuance of new LIBOR based loans and bonds will cease by mid-2021.

Fintech / Regtech

FSC Designates Korea’s First ‘Data Specialising Institutions’

By Editors | 09/08/2020

Korea Credit Information Services and the Financial Security Institute will be allowed to perform convergence of pseudonymised data originating from different financial businesses.

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.