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Market Infrastructure
Indian Banks Association Pushes for LIBOR Transition Readiness
By Editors | 12/02/2020
The IBA has written to companies asking them to assess the impacts that the LIBOR phase-out will have on their businesses, and to prepare accordingly.
Market Infrastructure
Hong Kong Considers Reforms to Data Privacy Laws
By Editors | 12/02/2020
Key recommendations include higher penalties for breaches, mandatory data breach notifications, and a requirement for clear personal data retention policies.
Market Infrastructure
China Green Lights Mastercard JV to Enter Bank Card Clearing Market
By Editors | 12/02/2020
The approval follows a commitment from China to expedite pending licence applications from US payments providers as part of the phase one trade deal.
Fintech / Regtech
Federal Reserve Explores Feasibility of US Dollar CBDC
By Editors | 11/02/2020
The Fed is exploring policy and design issues, legal considerations, and financial stability and resilience implications, governor Lael Brainard says.
Market Infrastructure
Sri Lanka Should Start LIBOR Transition ‘Immediately’ – ICRA
By Editors | 11/02/2020
The central bank, financial institutions, and companies must assess the impact, and the LIBOR transition should start “immediately”, says ICRA Lanka, a Moody’s group company.
ESG / Sustainability
FSAP Stress Tests to Prioritise Climate Risk Assessments: IMF
By Manesh Samtani | 08/02/2020
The IMF is adding climate-related factors to its existing stress-testing methodology to help government and private-sector leaders prepare for potential financial shocks.
Market Infrastructure
RBA Considers Mandating ‘Least Cost Routing’ – Reports
By Editors | 07/02/2020
Forcing banks to route payments through EFTPOS rather than Visa or Mastercard could save retailers an estimated A$500mn a year.
Market Infrastructure
US, Singapore Jointly Declare Opposition to Data Localisation
By Editors | 06/02/2020
The US and Singapore support allowing financial service suppliers to transfer data across borders and oppose generally applicable data localisation requirements.
Fintech / Regtech
ACCC Publishes Final Data Sharing Rules for Open Banking
By Editors | 06/02/2020
The Consumer Data Right Rules give legislative force to consumer requests for banks to share their data with accredited data recipients.
Market Infrastructure
ISDA to Re-consult on Pre-cessation Fallbacks This Month
By Editors | 06/02/2020
ISDA will consult on a single protocol that would allow participants to include both pre-cessation and permanent cessation fallbacks in derivatives trades.
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