Market Infrastructure

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.

Market Infrastructure

IMF Offers Guidance on Offsetting Economic Impact of Covid-19

By Editors | 17/03/2020

Banks should be encouraged to undertake prudent renegotiation of loan terms for stressed borrowers, but loan classification and provisioning rules should not be eased.

Market Infrastructure

Singapore Banking Heads Discuss Independent Validation Function

By Shierly Mondianti | 17/03/2020

PwC spoke to DBS’s Sia Nam Chie and OCBC’s Simon Lavender about the challenges they faced setting up the independent validation function for BCBS 239 compliance.

Market Infrastructure

RBA Mulls First-Ever Quantitative Easing Programme

By Editors | 16/03/2020

The RBA says it stands ready to buy government bonds in the secondary market, while APRA and ASIC are tasked with ‘adjusting’ regulatory requirements to boost credit availability.

Market Infrastructure

BOJ, FSA Publish Findings on LIBOR Transition Progress

By Editors | 15/03/2020

About 50% of the 6.3 quadrillion yen in notional derivatives referencing LIBOR will mature after 2021, but “very few” contracts incorporate fallback provisions.