Market Infrastructure

Market Infrastructure

Australian Regulators Urge Adherence to ISDA IBOR Fallbacks

By Editors | 14/10/2020

The ISDA IBOR fallbacks protocol and supplement were informed by extensive consultation with industry, including in Australia.

AML / KYC

G20 Ministers Extend DSSI Debt Relief, Welcome FSB, FATF Efforts

By Manesh Samtani | 14/10/2020

The G20 finance ministers and central bank governors have agreed to extend debt relief for low-income countries for six months, and welcomed efforts by the FSB and FATF.

Fintech / Regtech

RegTech Asia 2020: LIBOR Transition Progress

By Editors | 14/10/2020

How has LIBOR transition been progressing in Asia Pacific, and how is technology helping to facilitate transition efforts?

ESG / Sustainability

FSB Publishes Letter to G20 Ahead of Virtual Meeting

By Manesh Samtani | 14/10/2020

The letter describes the FSB’s work to address issues of financial innovation and technology, promote a resilient and integrated global financial system, and address market fragmentation.

AML / KYC

FSB Issues Final Recommendations on Regulating Global Stablecoins

By Editors | 13/10/2020

Global stablecoin arrangements are expected to adhere to all applicable regulatory standards and address risks to financial stability before commencing operation, the FSB says.

Market Infrastructure

BSP Amends Operational Risk Guidelines to Include ‘People Risk’

By Sanday Chongo Kabange | 13/10/2020

The BSP wants banks and NBFIs to embed in their ERM framework measures to identify, measure, monitor, and control human resource related risks.

Fintech / Regtech

Wirecard Service Halt Disrupts Singapore Merchants – Report

By Editors | 13/10/2020

Singapore merchants were caught off guard when Wirecard services stopped functioning this month. Many have been accepting payments via bank transfer, cash or digital platforms.

Market Infrastructure

PBOC Scraps Risk Reserve Requirement on FX Forwards

By Editors | 13/10/2020

The risk reserve ratio previously made it more expensive to bet against the yuan by forcing FIs to set aside extra cash when buying FX forwards for clients.

AML / KYC

FSB Publishes Roadmap on Enhancing Cross-Border Payments

By Editors | 13/10/2020

The roadmap seeks to address key challenges faced in cross-border payments including high costs, low speed, limited access and insufficient transparency.