International

New paper highlights the impact of incoming securities finance trade reporting obligations on the industry including collateral supply, liquidity and operations.

Optimising settlement and moving beyond T+2 will enable firms to reduce capital requirements, systemic risk and operational costs while preserving resiliency of existing infrastructure.

The FSB submitted a report to the G20 detailing a framework to monitor potential contagion risks and wealth effects arising from crypto-assets.

ISDA proposes adjustment options that will be applicable to fallback rates in the event a derivative references an IBOR that has been permanently discontinued; FSB cautions on the use of overnight RFR to replace term IBORs.

In intragroup transactions involving a third country entity, ESMA is seeking to extend its temporary clearing exemption for derivatives transactions.

At the RISE conference in Hong Kong this week, industry participants called for regulation in the crypto sector "earlier rather than later", to avoid backlash which could set the industry back.

Guidance aimed at assisting to countries, competent authorities, providers of securities products and services, and intermediaries in risk-based design and implementation of applicable AML/CFT measures.

The 'J5' will three global tax enforcement initiatives: cybercrime and virtual currencies, enablers of offshore tax crime, and data platforms; new alliance includes Canada, US, UK, Netherlands.

New framework builds upon consultation last year and provides further guidance on the G-SIB assessment, reporting and higher loss absorbency surcharge. It will be adopted by 2021.

Report by Quinlan & Associates suggests potential for digital transformation to deliver 10-15% boost in top-line revenues and 30% reduction in operating costs, with tail clients a key opportunity.