AI, Technology & Data

Climate Risk

Xi Jinping Pledges to Further Open China Market to Foreign Firms

By Editors | 20/11/2023

During Xi’s visit to the US, the two sides agreed to cooperate on addressing AI risks, climate change, and fentanyl trafficking.

Clearing & Post-Trade

ASX Picks TATA, Accenture To Deliver CHESS Replacement

By Sanday Chongo Kabange | 20/11/2023

ASX says it selected TCS and Accenture after extensive evaluation of potential solution options and product vendors.

Data Privacy

Hong Kong Launches Pilot Programme for Multiple-CRA Model

By Manesh Samtani | 20/11/2023

Participating individuals can obtain consumer credit reports from three CRAs, to review the accuracy of data and assess their overall service performance.

Cybersecurity

India’s UCO Bank Calls in Federal Investigators to Probe Payments Disruption

By Ajoy K Das | 19/11/2023

The CBI is being called in to investigate a possible cyber-attack or manipulation of the state-owned bank’s internal systems.

Cloud & Infrastructure

Regulatory Intervention Needed to Address Cloud Adoption Risks: BIS Paper

By Manesh Samtani | 18/11/2023

Indirect oversight of CSPs, i.e. requiring financial firms to manage the risks, “may not be sufficient from a systemic perspective”, the paper says.

Data Privacy

China Drafts New Data Security Rules for Auditors

By Editors | 18/11/2023

The rules require auditors to improve data security management, and store audit working papers only within China’s borders.

Anti-Money Laundering

MAS Issues Draft Requirements for Data Sharing Through COSMIC

By Manesh Samtani | 17/11/2023

The requirements cover the internal policies FIs must put in place to share information through COSMIC, and the appropriate use and safeguarding of information received.

AI Risk & Governance

AI To Enhance Central Banks’ Supervision: Deutsche Bundesbank

By Jill Wong | 16/11/2023

Joachim Wuermeling of the Deutsche Bundesbank says AI will help central banks do a better job in supervising banks.

Sustainable Finance

IFC, MAS, WEF Partner to Advance Digital Financial Inclusion

By Mark Johnston | 16/11/2023

The partnership will create and promote new financing instruments to promote digital financial inclusion in emerging and developing markets.