Payments & Settlements

AI Risk & Governance

China Concludes Third Plenum With Release of Economic Blueprint

By Editors | 23/07/2024

The blueprint for the economy mostly reiterates policy priorities that have been announced over the last few years.

Payments & Settlements

Cambodia to Allow Tourists to Use Bakong Payment App

By Nithya Subramanian | 23/07/2024

Tourists visiting Cambodia will be able to download the Bakong app and use a credit card from their home country to top up the wallet.

Payments & Settlements

Indonesia, UAE Central Banks Enhance Payments Cooperation

By Sanday Chongo Kabange | 22/07/2024

BI and CBUAE will create a cross-border QR payment linkage that will use direct local currency exchange rate quotations from appointed dealer banks.

Cybersecurity

Global IT Outage: ‘Significant Number’ of Affected Devices Back Online

By Manesh Samtani | 22/07/2024

NAB, CBA, SGX, LSE, Amex, Barclays, Macquarie Capital, and TD Bank were among those impacted, along with some Indian and Philippine banks.

Structural Regulation

Visa Suspected of Violating Japan’s Antimonopoly Act – Reports

By Editors | 21/07/2024

The FTC is probing Visa’s local unit and plans to explore whether its US headquarters and Singapore unit played a role in the suspected violations.

Clearing & Post-Trade

FMSB Drafts Standard for Sharing Standard Settlement Instructions

By Editors | 20/07/2024

The draft standard aims to increase the adoption of electronic solutions for sharing SSIs and address errors and inefficiencies in current processes.

PEPs & Sanctions

China, Russia Exploring New Ways to Address Payment Problems

By Editors | 19/07/2024

A Chinese official said financial institutions from the two countries are exploring the possibility of cooperating using the Mir payment system.

Clearing & Post-Trade

Why UTIs are Critical for Accelerated Settlement

By Val Wotton | 18/07/2024

Firms should incorporate the UTI as a standard data point in post-trade processing workflows, says DTCC’s Val Wotton.

Structural Regulation

BSP Issues New Guidelines on FX Reporting and Penalties

By Sanday Chongo Kabange | 18/07/2024

The BSP says reporting entities have until 31 December to make the necessary preparations and adjustments to their systems and processes.