Big Picture

As part of an ecosystem approach to fintech development, HKMA chief Eddie Yue wants to work with FIs, end users and technology firms to drive innovation in financial services.

Tokenised securities will impact traditional finance and act as a bridge between legacy finance and the new digital world, taking benefits from each system, ASIFMA says in a new white paper.

Banks that draw down on their buffers in times of stress are not deemed to be in breach of their minimum regulatory capital requirements.

Regulators can help to mitigate the cyber threat by promoting contingency planning in banking and enabling information sharing among banks and regulators.

Regulators should lead by example to promote the timely, full and consistent implementation of remaining reforms to support a level playing field and avoid regulatory arbitrage, the FSB says.

In a letter to the G20 finance ministers and central bank governors, the FSB says the development of post-crisis reforms is “nearly complete”, but implementation progress remains uneven.

China and Indonesia have demonstrated pioneering policy actions and regulatory initiatives, resulting in changing practices at financial institutions, the Sustainable Banking Network says.

S&P Global Ratings says Hong Kong’s approach to open banking makes it hard for third-party service providers to participate, limiting the potential of the new digital ecosystem.

ISDA and EU banking associations are calling for equivalence decisions to be prioritised for Australia, Hong Kong, Singapore and South Korea, among others.

CLO losses experienced by non-bank investors such as hedge funds and insurance companies could present risks to banks, the BIS says in its quarterly review.