Banks will be urged to enhance due diligence and do more to protect data confidentiality as BNM cites risks from outsourcing to shared services.
Measures will include enhanced risk management and governance requirements as well as increased use of cloud technology.
Report proposes that each UPI maps to reference data which indirectly describes an OTCD product without identifying transaction details.
Bank-owned NESL wins license to operate utility which shares information on financial contracts as part of efforts to clean up bad loans.
In addition to the enhanced sandbox, HKMA will also work on a new payment system, minimising regulatory friction in onboarding and other services.
Chairman Greg Medcraft expresses concern about regulatory fragmentation with increased use of technology, emergence of ICOs.
Market participants can't meet diverse regulatory requirements without using DLT to share back office and post-trade functions, report suggests.
Sandbox board includes ASEAN Bankers Association, Monetary Authority of Singapore and is being advised by Intel, Microsoft Asia Pacific and IBM Philippines.
Central bank and apex regulator says delegation is the largest it has ever put together, will meet London start-ups and accelerator programmes.
Panel on cybersecurity and resilience includes representatives from Accenture, JPMorgan, London Stock Exchange, PwC and Standard Chartered Bank.