MARKET INFRASTRUCTURE

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.