Market Infrastructure

Market Infrastructure

Continued LIBOR Use Presents ‘Safety and Soundness’ Risks

By Manesh Samtani | 25/03/2021

ARRC will not be able to recommend a forward-looking SOFR term rate by mid-2021. New York has approved legislation to facilitate transition for tough legacy contracts.

Market Infrastructure

PBOC, SWIFT to Establish Cross-border Payment Stability

By Editors | 25/03/2021

The PBOC’s joint venture with SWIFT will build a localised messaging network to provide Chinese FIs with a more stable connection to the main SWIFT network.

Enforcement

DOJ to Probe Visa Over Debit Card Routing Practices

By Ranamita Chakraborty | 24/03/2021

Visa is alleged to have engaged in anti-competitive practices by preventing merchants from routing payments through other card networks.

Market Infrastructure

SEBI Issues Guidelines for MIIs on Handling Disruptions

By Sanday Chongo Kabange | 24/03/2021

The new guidelines follow last month’s trading halt at the NSE. The exchange has submitted a root cause analysis to SEBI.

ESG / Sustainability

IFRS Foundation Forms Working Group to Converge Standards

By Editors | 23/03/2021

The working group will provide a forum for structured engagement with standard-setting bodies to converge their various sustainability reporting standards.

Fintech / Regtech

SFA, Remittance Association to Jointly Strengthen SG Remittance Industry

By Editors | 22/03/2021

The SFA Remittance Sub-Committee has been launched to promote the adoption of technologies to strengthen Singapore’s money remittance industry.

ESG / Sustainability

Climate Change Will Threaten Financial Stability: PBOC

By Manesh Samtani | 22/03/2021

Climate change could impact monetary policy, credit risk, market risk and liquidity risk, and undermine the stability of the entire financial system, PBOC governor Yi Gang said.

Market Infrastructure

Japan Banks Finalise Decision to Lower Interbank Transfer Fees

By Editors | 22/03/2021

Effective from 1 October, interbank money transfer fees will be lowered to JPY 62 per transaction, the first reduction in 40 years.

Market Infrastructure

LCH Sets Dates for Conversion of SwapClear LIBOR Contracts

By Editors | 21/03/2021

Conversion of CHF, EUR and JPY LIBOR shall apply to SwapClear contracts outstanding on 3 December. Conversion of GBP LIBOR will apply to contracts outstanding on 17 December.