Market Infrastructure

The COVID-19 pandemic is an additional catalyst for financial institutions to generate fundamental structural change as they seek to implement Basel reforms, says AxiomSL’s Mahim Mehra.

An "overwhelmingly large share" of BCBS members have conducted research related to the measurement of climate-related financial risks.

The deadline extension for lenders is a response to Covid-19, as the FCA seeks to avoid disrupting the flow of loans to help companies stay afloat during the pandemic.

Some banks have changed their BCBS 239 implementation strategies to comprehensively improve data quality, but this will take considerable time to resolve.

The findings suggest that government policy to promote electronic payments may have to address fundamental concerns about privacy and confidence in financial institutions.

The new regulations, jointly released by 12 government agencies, are not intended to restrict or discriminate against foreign products or services, an official said.

The time taken to pass on announced interest rate reductions to customers varied across the big four banks, with revenue being a key motivator. CBA consistently had the longest lag period.

The assessment commends Korea for its continued efforts to enhance prudential, legal and supervisory frameworks, while also pointing to growth-related uncertainties and household debt risks.

About HK$1.4tr in assets, HK$0.5tr in liabilities, and HK$14.7tr in derivatives still referencing LIBOR will mature after end-2021 and don't have fallbacks in place.

The rulebook's final methodology, rules and conventions are based on the results of four market-wide consultations ISDA conducted between 2018 and 2020.