The agreement promotes cooperation on cross-border data flows, fintech, cybersecurity, and mutual recognition of digital identity systems.
The SRCM framework sets out how the FSCC should intervene in the event of a potential systemic risk that could negatively affect the macroeconomy.
Allowing credit cards to link with the UPI will provide consumers more payment options and greater convenience, the RBI said.
The Central Moneymarkets Unit will be further commercialised and upgraded in phases over three years. A new platform will be launched in 2025.
The new platform introduces margin requirements based on individual stock volatility, instead of a flat margin rate across all securities.
The CSA says the proposed rules will enable market participants to harmonise their reporting systems across multiple global regulators.
UK and Japan participants agreed to establish an innovation working group to provide a space for collaboration on payments, cryptoassets and financial innovation.
The SC plans to make it a requirement for the majority of board members and the rating committee to be independent.
A third data gaps initiative has been proposed, to address data gaps relating to climate change, fintech and financial inclusion, among other things.
Guangzhou's financial regulator will seek to attract talent and capital to the city and promote it as a wealth and asset management centre.
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