Market Infrastructure

Market Infrastructure

Indonesian Regulators Publish LIBOR Transition Guide

By Editors | 28/12/2021

The guide recommends five steps for market participants with LIBOR exposures, to help them respond to and prepare for the transition.

Market Infrastructure

Hong Kong, Mainland Exchanges to Include ETFs in Stock Connect

By Editors | 28/12/2021

Eligible ETFs will be included in Stock Connect. Business and technical preparations are expected to take about six months to complete.

Fintech / Regtech

Bank Indonesia Launches New Fast Payments System, BI-Fast

By Sanday Chongo Kabange | 24/12/2021

BI-Fast lowers the interbank transfer fee, set at IDR 2,500 (USD 0.18) per transaction, down from the usual IDR 6,500 fee for interbank transfers. 21 banks have so far enrolled on BI-Fast.

Market Infrastructure

HKMA Moves to Reduce LIBOR-related Reporting Frequency

By Editors | 24/12/2021

The move from monthly reporting back to quarterly reporting means the next reporting position after December 2021 will be March 2022.

AML / KYC

HKMA Asks Banks for ‘Active Participation’ in CDI Initiative

By Editors | 23/12/2021

The HKMA is seeking to link the new CDI to the Commercial Credit Rating Agency and Companies Registry to enhance risk management in the banking industry.

Market Infrastructure

Taiwan Proposes New Framework for Authorising Internet-only Insurers

By Sanday Chongo Kabange | 23/12/2021

Sponsors of internet-only insurers can include financial institutions and fintech companies. Applications are expected to open in August 2022.

Market Infrastructure

HKMA Proposes New Guidance on Operational Resilience

By Manesh Samtani | 23/12/2021

Revisions to guidance on operational risk management and BCP have also been proposed to align with the operational resilience guidance.

Fintech / Regtech

Australian Treasury Confirms Plans to Expand Consumer Data Right

By Mark Johnston | 23/12/2021

Action initiation functionality will be applied first in the banking sector to enable the development of new, competitive and consumer-focused payment services.

ESG / Sustainability

RBA Warns of ‘Dire Consequences’ from Cyber and Climate Risks

By Mark Johnston | 23/12/2021

The RBA’s Jonathan Kearns said banks need to continue to address evolving risks, as they can morph into systemic risks with potentially dire consequences.