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Market Infrastructure
Market Infrastructure
PBOC to Reduce ‘High Risk’ Institutions in Financial System
By Sanday Chongo Kabange | 16/03/2023
The PBOC will defuse “bombs” by reducing the number of high-risk institutions especially small and mid-sized financial institutions.
Market Infrastructure
US SEC Proposes New Requirements to Address Cyber Risks
By Editors | 16/03/2023
The proposals will enhance cyber and technology risk management requirements for key entities that underpin the US securities market.
Fintech / Regtech
US Announces July Launch Date for FedNow Service
By Editors | 16/03/2023
The Federal Reserve said it will begin the formal certification of participants for launch of the FedNow Service in the first week of April.
Fintech / Regtech
DTCC Offers New Tool to Facilitate LIBOR Transition
By Editors | 16/03/2023
Widespread usage of the tool will be “an important component to help ensure a successful transition,” said Tom Wipf, who chairs the ARRC.
Market Infrastructure
Singapore Consults on Adjustment Spreads for Legacy SIBOR Contracts
By Editors | 15/03/2023
Steering Committee proposes to have a period of active transition until 30 April 2024, before banks initiate an industry-wide automatic conversion process around June 2024.
Market Infrastructure
FSC to Ease Rules to Help Korean FIs Expand Overseas
By Editors | 15/03/2023
New FSC taskforce will work on measures to help FIs expand and invest overseas and address issues that prevent global firms from entering the Korean market.
ESG / Sustainability
European Banks to Undergo Climate, Cyber Stress Tests
By Mark Johnston | 15/03/2023
European regulators have been asked to conduct a one-off climate risk scenario analysis. The ECB separately plans to launch a thematic stress test on cyber resilience.
Fintech / Regtech
ICMA Releases New Bond Data Taxonomy
By Editors | 14/03/2023
The Taxonomy will enable firms to more easily leverage new technologies, streamline issuance and post-trade operations, and exchange data.
Big Picture
IMF Proposes Global Marketplace for Trading Between CBDCs
By Mark Johnston | 14/03/2023
A global marketplace for trading tokenised money such as CBDCs would reduce the need for bilateral trust relationships and improve cross-border payments.
Market Infrastructure
Cuban Banks Have Adopted Russia’s Mir Card Scheme
By Editors | 14/03/2023
ATMs now display the logo of the Mir payment system and provide an option to withdraw funds in Cuban pesos from cards issued by Russian banks.
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