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Payments & Settlements
Reporting on regulatory developments, innovations, and risks in payment systems and settlement processes essential for the transfer of money and securities.
Data Privacy
China, Hong Kong Pilot Cross-boundary Credit Referencing
By Sanday Chongo Kabange | 01/07/2024
The MoU between the HMKA and PBOC on cross-boundary commercial credit data connectivity is “essential” for healthy development of the banking sector.
Payments & Settlements
HKMA, PBOC To Establish Cross-border Payment Link
By Sanday Chongo Kabange | 01/07/2024
The cross-boundary payment and settlement scheme will enhance economic activities between Hong Kong and the Mainland.
Clearing & Post-Trade
ASX to Deliver First Phase of CHESS Replacement in 2026
By Sanday Chongo Kabange | 29/06/2024
ASX has confirmed it will target delivery of the first phase of its CHESS replacement project in 2026.
Payments & Settlements
RBI Revises Framework for Currency Swap With SAARC Countries
By Ajoy K Das | 28/06/2024
The new window under this framework offers concessions to support swap in Indian rupees. The total corpus for this support amounts to USD 3 billion.
Tokenisation
MAS Expands Project Guardian Initiatives to Scale Asset Tokenisation
By Nithya Subramanian | 28/06/2024
The financial regulator has also released a whitepaper on the design principles, objectives, considerations and potential uses of Global Layer One Initiative.
Payments & Settlements
Hong Kong Launches New eMPF Platform
By Sanday Chongo Kabange | 27/06/2024
YF Life is the first MPF trustee to move to the new eMPF platform. The migration of all 12 trustees is set to be completed by the end of next year.
Payments & Settlements
China Asks Visa, Mastercard to Lower Fees on Domestic Transactions
By Editors | 24/06/2024
Visa and Mastercard were asked to reduce their fees so local merchants are more willing to accept card payments from foreign visitors to China.
Clearing & Post-Trade
HKEX Enhances Clearing Arrangement for Stock, Options Trades
By Manesh Samtani | 24/06/2024
Exchange participants that are not also clearing participants can now appoint more than one general clearing participant for stock and options trades.
Payments & Settlements
Malaysia, Thailand Commencing Procedures to Join BRICS
By Editors | 24/06/2024
Thailand has submitted a formal letter of intent to join BRICS. Malaysia has decided to join and will start work on the formal procedures “soon”.
Payments & Settlements
Indian Banks Delayed in Joining Bharat Bill Pay System
By Ajoy K Das | 21/06/2024
Several major banks have not yet gone live on the BBPS despite a 30 June deadline for credit card payments to be processed on the interface.
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