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Market Infrastructure
Shenzhen Granted Autonomy to Enact Market-based Reforms
By Editors | 19/10/2020
Shenzhen will be able to make its own laws on artificial intelligence and big data, start a stock futures index, and list companies on its stock market with depositary receipts.
Market Infrastructure
MAS Consults on New Rules for Licensed Credit Bureaus
By Sanday Chongo Kabange | 19/10/2020
Credit bureaus will be subject to similar technology risk management requirements and cyber security measures as required of other financial institutions in Singapore.
ESG / Sustainability
MAS Outlines Next Steps in Green Finance Action Plan
By Shruti Khairnar | 19/10/2020
As part of a vision to make Singapore the leading centre for green finance in Asia, MAS will incorporate climate-related scenarios in its annual stress tests “within the next two years”.
Market Infrastructure
FSB Publishes Cyber Resilience Toolkit for Financial Sector
By Editors | 19/10/2020
The financial system is only as strong as its weakest link, the FSB says, encouraging the use of the final toolkit to enhance cyber incident response and recovery activities.
Fintech / Regtech
China Pushes For Faster Launch of Digital Currency
By Sanday Chongo Kabange | 19/10/2020
The Shenzhen government is issuing 10 million yuan worth of digital currency for testing as part of ongoing DC/EP pilot tests.
Capital / Liquidity
PBOC Issues Draft Rules ‘Fully Revising’ Commercial Bank Law
By Editors | 18/10/2020
The revisions will enhance governance, improve board and senior management accountability, strengthen capital and risk management requirements, and raise penalties for violations.
Capital / Liquidity
PBOC Rules for Conglomerates to Limit Systemic Risk: Fitch
By Editors | 18/10/2020
Fitch Ratings says the new regulations for conglomerates with interests in financial services will help contain systemic risks by limiting irregular financial activities and misconduct.
Market Infrastructure
HKMA Expects Adherence to ISDA IBOR Fallbacks Protocol
By Editors | 18/10/2020
The HKMA expects authorised institutions to adhere to the Protocol before it takes effect and to encourage counterparties to do the same.
Market Infrastructure
FSB Sets Out Global Transition Roadmap for LIBOR Phaseout
By Editors | 18/10/2020
By end-2020, firms should be in a position to offer non-LIBOR loans to customers. By 25 January, firms should adhere to the ISDA fallbacks protocol.
Market Infrastructure
Australian Regulators Prescribe Open Access to ASX Clearing Services
By Manesh Samtani | 18/10/2020
According to sources, the guidance was issued to prevent ASX Clear from imposing requirements on NSX with respect to the standards of its listed companies.
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