Market Infrastructure

The failure was attributable to an error in Mizuho's system settings for transactions occurring at night and on holidays, impacting ATM and online banking operations.

The HKMA has also finalised its guidance on climate risk management, giving banks until end-2022 to implement the new measures.

A newly-formed committee will identify the CCP's operating model and propose the necessary procedures for its establishment, including procurement.

The draft rules cover governance arrangements, operational requirements, risk management and internal controls, and IT requirements.

Cross-border instant QR payments are now available for travellers between Malaysia and Thailand, including for online e-commerce transactions.

The CD rate has been actively replaced with Korea's new RFR, known as KOFR, since its introduction on 25 November, the FSC said.

SGX and SZSE have signed an MoU to establish an 'ETF Connect' mechanism. SGX is also in discussions with CFETS to establish bond market connectivity.

The work plan focuses on measures to maintain financial stability, reduce debt risks, promote financial innovation, and enhance the FSC's rules on network security.

The rules require banks to establish an Information Security Committee, chaired by the CEO, to assess the strategic and operational management of the technology risk.

A gap analysis and implementation plans must be submitted to BNM within six months from the issuance of the final policy document, expected on 1 June 2022.