HKMA's Eddie Yue said the combined power of the three infrastructures will pave the way for digitalising cross-border trade across APAC.
Former Deutsche Bank traders Matthew Connolly and Gavin Black were convicted in October 2018. Both have now been acquitted.
Chiyu Banking Corporation, Chong Hing Bank, Fubon Bank, Shanghai Commercial Bank, and China Everbright Bank can launch WMC services.
Once approved by the European Commission, EU banks will have to start making ESG disclosures in 2023, with full phase-in by June 2024.
New BIS paper says consent-based data governance systems with low transaction costs are key to promoting the development of virtual banking worldwide.
SEC chairman Viraj Dayaratne said "steady progress" is being made and the CCP is expected to launch by year end as planned.
Financial groups should promote a strong risk culture, put in place appropriate supervision and surveillance, and ensure fairness and transparency in trade execution.
The linkage will eventually be expanded to support real-time cross-border fund transfers. The 2nd phase of Malaysia's QR payment linkage with Thailand has also gone live.
The platform is expected to help wealth management companies expand and enhance their product sales channels - especially the WMC units of smaller-scale banks.
The change increases PESONet's daily batch settlement to two cycles, enabling better risk management for FIs and greater convenience for customers.
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