MARKET INFRASTRUCTURE

Fintech / Regtech

Now More than Ever: The Need for Reliable Conduct Risk Metrics

By Stephen Scott | 20/03/2020

The demands being imposed on the global banking system highlight the Achilles Heel of nonfinancial risk management and, particularly, misconduct risk, says Stephen Scott at Starling.

Market Infrastructure

FSC Korea Authorises KODIT to Develop New Credit Scoring System

By Editors | 20/03/2020

The new system will use non-financial and transaction information of SMEs and small merchants to generate credit scores, improving their ability to obtain financing and credit guarantees.

Market Infrastructure

Singapore Steering Committee Publishes SORA Transition Roadmap

By Editors | 19/03/2020

Banks aim to start active trading in SORA derivatives in the second half of the year, and SORA-based loans will launch by year-end.

Market Infrastructure

Fed Establishes FX Swap Lines with Nine Central Banks

By Editors | 19/03/2020

Temporary currency swap lines will be established with 9 central banks – including BOK, RBA, MAS and RBNZ – to lessen the strain on US dollar funding markets.

Market Infrastructure

ESMA Defers SFTR Start Date for Phase One Reporting Entities

By Editors | 19/03/2020

ESMA now expects trade repositories, credit institutions, investment firms to be ready for SFTR reporting from 13 July, alongside CSDs and CCPs.

AML / KYC

RBI Brings Payment Aggregators Under Regulatory Remit

By Editors | 19/03/2020

The capital requirement for payment aggregators has been reduced to 150mn rupees, down from 1bn rupees proposed in September.

Market Infrastructure

SWIFT Defers ISO 20022 Start Date for Cross-border Payments

By Editors | 18/03/2020

ISO 20022 messages for cross-border payments and cash reporting businesses will start from end 2022 instead of November 2021 as originally planned.

Market Infrastructure

CBIRC Approves First National Bad Debt Manager in 20 Years

By Editors | 18/03/2020

Jiantou Citic Asset Management will transition into a financial asset management company, making it the first new national distressed debt manager authorised since 1999.

ESG / Sustainability

A Review of Post-GFC Regulatory Approaches to Bank Boards

By Editors | 18/03/2020

Of the 19 jurisdictions surveyed, all prescribe ‘fit and proper’ criteria to assess bank board members, however some authorities have no regulatory powers to approve their appointments.