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Markets & Infrastructure
CBDCs
ECB Launches Two-Year Preparation Phase for Digital Euro
By Mark Johnston | 20/10/2023
The ECB said its Governing Council will decide after the two year preparation phase whether to proceed to the next stage.
Cryptocurrency
ESMA Calls on NCAs, Crypto Firms to Start Preparing for MiCA
By Manesh Samtani | 20/10/2023
ESMA is concerned that MiCA’s optional grand-fathering period might allow some crypto firms to continue operating without a full licence all the way until July 2026.
Payments & Settlements
India to Add More Banks to Singapore Payments Linkage – Report
By Sanday Chongo Kabange | 19/10/2023
India and Singapore are planning to expand the number of Indian banks participating in the PayNow-UPI linkage launched in February.
Trading & Investment
NDRC, HKMA to Promote Mainland Bond Issuance in Hong Kong
By Manesh Samtani | 19/10/2023
The MoU was signed at the Belt and Road Forum, where 100-plus other agreements were also signed and Xi Jinping unveiled further plans to support the initiative.
Cybersecurity
Lloyd’s Simulates $3.5tr Cyber Attack on Financial System
By Mark Johnston | 19/10/2023
Lloyd’s published a scenario that simulates a cyber attack that would cause $3.5tr in global economic losses over five years.
Trading & Investment
Korea: Registration for Trading FX Market Opens for Foreign Firms
By Manesh Samtani | 19/10/2023
Bank of Korea said about 30 overseas FIs have expressed interest in participating in the domestic FX market when access opens in January.
Trading & Investment
SSE to Transition All Bond Bookbuilding to Centralised System
By Editors | 18/10/2023
The Shanghai exchange said bond issuers can use the centralised system voluntarily until 31 December, then it will become mandatory.
Trading & Investment
More Chinese SOEs Move to Support Stock Market
By Mark Johnston | 18/10/2023
SOEs are buying back shares and withdrawing share sale plans. Goldman expects a recovery rally towards year-end.
PEPs & Sanctions
US Tightens Export Controls on Advanced Computing Chips
By Editors | 18/10/2023
The Commerce Department said changes are needed to maintain the effectiveness of the export controls imposed in October 2022 and close loopholes.
Payments & Settlements
CPMI Seeks Feedback on Governance of FPS Interlinking Arrangements
By Editors | 18/10/2023
The interlinking of fast payment systems is “one of the most promising solutions” for enhancing cross-border payments, CPMI says.
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