All cross-border payments in the trial, which involved 17 banks across 7 countries, settled end-to-end within 25 seconds. SWIFT gpi has also now been introduced for corporates.
An alternative compliance regime will be provided for non-US DCOs registered with the CFTC, while exempt DCOs will be allowed to offer clearing through foreign intermediaries.
The survey will inform the FSB's development of a toolkit of effective practices for responding to and recovering from cyber incidents.
The guidance provides good approaches, relevant information sources and practical examples for practitioners to consider when assessing terrorist financing risk at the jurisdiction level.
Policymakers are facing a balancing act between keeping up with the pace of fintech development and trying to ensure risks are well understood and mitigated.
The FSB says further efforts are needed to ensure that TLAC will be available in the right amounts at all locations within a group during a crisis.
Most financial institutions say coordination among regulators is not sufficient to effectively promote sustainable finance globally, according to a GFMA survey.
Financial crime, culture & conduct risk, personal liability and technology are some of the other top compliance challenges cited in the latest Thomson Reuters Cost of Compliance report.
The BIS Innovation Hub will foster collaboration between central banks and, by extension, help the private sector fully realise 'new economy' opportunities.
FICO's chief analytics officer Scott Zoldi discusses his patent work aimed at achieving the explainability, transparency and auditability regulators demand of AI models.