Market Infrastructure

Market Infrastructure

IMF, MAS Offer Guidance on Assessing Cyber Risk

By Manesh Samtani | 12/02/2020

A new IMF-MAS paper presents data sources and methods that can be used to analyse and assess cyber risk, illustrated with applications to Singapore.

Market Infrastructure

RBI Proposes Authorisation of New Retail Payment Systems

By Editors | 12/02/2020

The draft framework is said to be aimed at addressing concerns that the NPCI has become ‘too big to fail’ and presents increased concentration risk.

Enforcement

US Charges 4 Chinese Military Officers for Equifax Hack

By Editors | 12/02/2020

The four Chinese nationals are charged for breaking into Equifax’s computer systems to steal US citizens’ personal data and sensitive trade secrets.

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.