MARKET INFRASTRUCTURE

AML / KYC

FSB Publishes Roadmap on Enhancing Cross-Border Payments

By Editors | 13/10/2020

The roadmap seeks to address key challenges faced in cross-border payments including high costs, low speed, limited access and insufficient transparency.

Market Infrastructure

Japan Financial Hub Ambitions Centre on Three Cities – Report

By Editors | 13/10/2020

Prime Minister Yoshihide Suga reportedly plans to quickly address issues concerning taxation, residency requirements and language support to attract foreign talent.

Fintech / Regtech

FSB Calls on Authorities to Regulate BigTech in Financial Services

By Editors | 12/10/2020

Where financial services activities are undertaken by new types of actors, such as BigTech firms, the principle of ‘same risk-same regulation’ should apply, the report says.

Market Infrastructure

BIS Paper Presents Alternative to Forward-looking Term Rates

By Manesh Samtani | 12/10/2020

Many banks have adopted a “wait and see” approach to the LIBOR phase-out, waiting to forward-looking term rates based on RFR derivatives to become available.

Fintech / Regtech

BOJ to Commence CBDC Testing as Early as April 2021

By Editors | 12/10/2020

A proof of concept will take place over two phases, followed by a possible pilot programme involving private payment service providers and end-users.

Market Infrastructure

SWIFT Completes Another gpi Pilot with UK Faster Payments

By Editors | 11/10/2020

Over the past two years, SWIFT has run successful proof of concepts with payment infrastructures in Singapore, Australia and Europe.

Market Infrastructure

CSRC Forms Preparatory Group for Guangzhou Futures Exchange

By Editors | 11/10/2020

The establishment of a new futures exchange in Guangzhou was part of a policy blueprint for the GBA released earlier this year.

Market Infrastructure

GBA Regulators Advance Policy Work on Cross-border Mortgages

By Manesh Samtani | 11/10/2020

The HKMA’ Edmond Lau says encouraging progress has been made to allow Hong Kong banks to provide cross-border mortgage services in the Greater Bay Area.

Market Infrastructure

ISDA to Launch IBOR Fallbacks Supplement, Protocol on 23 Oct

By Editors | 11/10/2020

Widespread adoption is a tangible step financial and non-financial firms can take to avoid disruptions in derivatives markets and mitigate risks at a system-wide level, the FSB says.