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Market Infrastructure
Philippines Revises Framework Governing Bank Auditors
By Editors | 29/05/2019
The revised framework lays out criteria for banks to select external auditors as well as key guidelines for auditors in their assessment of banks.
Market Infrastructure
Indonesia Unveils Payment System Roadmap, Launches QR Code System
By Editors | 29/05/2019
Bank Indonesia’s roadmap for the payments system includes plans for open banking, real-time retail payments and a digital ID system.
Market Infrastructure
FSB Works to Develop Cyber Incident Best Practice Toolkit for FIs
By Manesh Samtani | 29/05/2019
In a progress update to the G20, the FSB said it is working to identify and develop effective practices for financial institutions to respond to and recover from cyber incidents.
Market Infrastructure
ISDA Proposes Further Definition Changes to Improve CDS Market
By Editors | 29/05/2019
The new proposal will amend the definition of “Outstanding Principal Balance”, which determines the principal amount of a bond or loan that must be delivered to physically settle a CDS contract.
Market Infrastructure
CFFEX to Set Aside 20pc of Fee Income as Risk Reserve
By Editors | 29/05/2019
Effective from 24 May, the CFFEX will set aside 20 percent of its service fee income as risk reserves, to be maintained in a special account and managed under separate accounting.
Market Infrastructure
Hong Kong, China Agree to Cooperate on Audit Regulation
By Editors | 28/05/2019
Hong Kong’s Financial Reporting Council will be able to access audit papers located in the mainland “through an effective mechanism and clear procedures”.
Market Infrastructure
Regulatory Change Aggravated the CITIC-CLSA Culture Clash
By Peter Guy | 28/05/2019
Though the CLSA-CITIC fallout was characterised as a cultural clash, this narrative frays against the other challenges facing stock brokers and investment bankers, says Peter Guy.
Market Infrastructure
Decline in Correspondent Banking is Universal – CPMI
By Editors | 28/05/2019
Over the last seven years, active relationships in the global correspondent banking network have declined by about 20%, and the number of active corridors has fallen by roughly 10%.
Market Infrastructure
S. Korea FSC Rejects Remaining Internet-Only Bank Applicants
By Editors | 27/05/2019
The FSC will accept applications again during Q3 this year. Kiwoom Bank and Toss Bank can address their shortcomings and resubmit their applications.
Capital / Liquidity
RBI Proposes Liquidity Risk Management Norms for NBFCs
By Editors | 27/05/2019
Under the draft rules, NBFCs will have to meet to a 60% LCR requirement from April 2020, increasing each year to the full 100% LCR in April 2024.
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