MARKET INFRASTRUCTURE

Market Infrastructure

S. Korea to Implement Asia Region Funds Passport on 27 May

By Editors | 22/01/2020

To register passport funds that can be offered in overseas markets, fund managers in Korea must have at least $500mn under management and meet a $1mn minimum capital requirement.

ESG / Sustainability

BIS Calls on Central Banks to Coordinate Action on Climate Change

By Manesh Samtani | 21/01/2020

Without coordinated action, a new global financial crisis triggered by climate change would render central banks and financial supervisors powerless.

Fintech / Regtech

Former CFTC Chair Launches Digital Dollar Project with Accenture

By Editors | 20/01/2020

The Digital Dollar Project is a multi-stakeholder initiative to explore options for creating a US dollar CBDC, which would coexist with other Federal Reserve liabilities.

Market Infrastructure

China Launches Upgraded Credit Reference System

By Editors | 20/01/2020

The new system covers 5 years of financial records, compared to 2 previously, including information on borrowers’ employment status, co-borrowing records, and utility payment history.

Market Infrastructure

NBFI Posing Financial Stability Risk Grows at Slower Pace: FSB

By Editors | 20/01/2020

Non-bank financial intermediation posing bank-like financial stability risks grew by 1.7% in 2018, significantly slower than the 2012-2017 average annual growth rate of 8.5%.

Market Infrastructure

Benchmark Reform: HONIA Beckons but is Hong Kong Ready?

By CorporateTreasurer | 20/01/2020

TMA published feedback from market participants on HONIA as the successor to HIBOR in late December but unlike its US counterpart SOFR, Asian businesses are taking time to adapt.

Market Infrastructure

Japan to Allow Regional Banks to Expand Outside Core Business

By Editors | 17/01/2020

FSA commissioner Toshihide Endo wants struggling regional lenders to engage with customers and help them grow, as a way to boost bank profitability and regional economies.

Enforcement

Review Panel Offers Recommendations for Improving SFC Operations

By Editors | 17/01/2020

While welcoming the SFC’s front-loaded regulatory approach, the Process Review Panel says the regulator should be aware of its possible unintended effects and consider ways to minimise them.

Market Infrastructure

UK Regulators Set Key LIBOR Transition Deadlines

By Editors | 17/01/2020

Market makers have until 2 March to adopt SONIA as the market convention for issuing sterling interest rate swaps, and until Q3 to end all new issuances of LIBOR-based cash products.