Big Picture

Much of today's post-trade process is still handled manually, resulting in greater risk, errors and costs, says DTCC in a new white paper, highlighting the need for a new approach.

Financial firms say public cloud projects are delivering better-than-expected cost reductions and enabling innovation, but data privacy and regulatory concerns are slowing adoption.

A new report from S&P says insurers’ high exposure to banks and cross-holdings between banks could heighten systemic risk.

Significant variations in reporting practices in some cases do not meet the disclosure objective of IFRS 9, Moody's says, describing  HSBC Hong Kong and Hang Seng Bank as best in class.

A JD Power survey has found that 65% of Singapore customers are interested in opening digital bank accounts. The survey ranked HSBC first, OCBC second and DBS third in customer satisfaction.

"Innovation which has the potential to present systemic risk or is allowed to operate in an unchecked or unregulated manner is detrimental to financial markets and investor interests."

IOSCO says early transition to risk free rates will help to mitigate potential financial stability and conduct risks associated with the transition away from LIBOR.

The FMA is prioritising governance, culture, systems and controls, as well as mechanisms to deter misconduct and facilitate informed decision-making by investors and customers.

Indigenous virtual banks, global digital-only banks, and digitised traditional banks are all vying for market share, says a new report from S&P Global Ratings.

The IMF says Singapore's financial system would continue to be resilient even under very adverse scenarios, but that foreign currency liquidity risk needs to be addressed.