Markets & Infrastructure

PEPs & Sanctions

China Should Reduce SWIFT Use in Case of US Sanctions – Report

By Editors | 30/07/2020

China should prepare for potential US sanctions by increasing the use of CIPS for cross-border transactions, and by developing legislation similar to the EU’s blocking statute.

Credit Risk

BSP Excludes Market-making Activities from Single Borrower Limit

By Editors | 29/07/2020

Debt securities acquired by banks from market-making activities will be excluded from the single borrower’s limit computation for 90 calendar days from the time of acquisition.

Structural Regulation

Singapore Industry Consultation Proposes to Discontinue SIBOR

By Manesh Samtani | 29/07/2020

Proposed reforms were found to display “noticeable differences in volatility and levels compared to SIBOR”, which will present challenges to industry adoption.

Clearing & Post-Trade

ESMA Set to Defer CSDR’s Settlement Discipline Regime

By Editors | 29/07/2020

The European Commission asked ESMA to consider a one-year deferral in light of operational pressures on firms and other market developments amid the Covid-19 pandemic.

Tokenisation

Philippines Launches DLT-based Distribution of Retail Treasury Bonds

By Sanday Chongo Kabange | 29/07/2020

The launch of ‘Bonds.PH’ paves the way for the unbanked to affordably and easily invest in retail treasury bonds, said National Treasurer Rosalia V. De Leon.

Trading & Investment

Tokyo Commodity Exchange Proposes Trading Rule Revisions

By Editors | 29/07/2020

TOCOM plans to revise its trading rules to coincide with the launch of a next-gen derivatives trading system known at J-GATE 3.0 in Q3 2021.

Structural Regulation

Bangladesh Relaxes Rules on Obtaining Credit for Foreign Firms

By Duruthu E Chandrasekera | 29/07/2020

Foreign-owned and controlled companies in Bangladesh will be able to obtain local currency loans using guarantees from overseas entities, the latest in a string of relaxations.

Trading & Investment

New Zealand FMA Warns Derivatives Issuers to Ensure Compliance

By Sanday Chongo Kabange | 29/07/2020

Self-assessments by derivatives issuers have identified risks stemming from the way they handle client money, provide advice to retail clients, and handle vulnerable customers.

Market Data & Technology

ISDA Launches New Indicator to Monitor RFR Adoption in Derivatives

By Editors | 28/07/2020

The indicator is intended to help derivatives market participants keep tabs on progress to shift to risk-free rates ahead of the end of 2021, when LIBOR is due to be discontinued.