Payments & Settlements

Operational Risk

Singapore’s DBS Experiences Digital Payment Service Disruption

By Editors | 21/10/2023

The 20 October disruption to the bank’s PayLah service came less than a week after a weekend outage that lasted more than 12 hours.

Structural Regulation

Hong Kong Gazettes Commencement Notice for Bankruptcy Legislation

By Sanday Chongo Kabange | 20/10/2023

The Commencement Notice seeks to appoint 29 December 2023 as the commencement date for amendments to the Bankruptcy and Companies Legislation.

Payments & Settlements

RBNZ to Amend ESAS Access Policy, Eligibility Criteria

By Editors | 20/10/2023

RBNZ consultation revealed “considerable demand” for access to ESAS by non-banks for payments and settlements, access to HQLA, and interest income.

Clearing & Post-Trade

Canada to Allow T+1 Settlement Cycle for Mutual Funds

By Mark Johnston | 20/10/2023

CSA seeks feedback on amendments to allow mutual funds to voluntarily adopt T+1 settlement for subscription and redemption.

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.

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.

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.

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.

Payments & Settlements

CPMI Publishes Harmonised Data Requirements for ISO 20022

By Mark Johnston | 18/10/2023

The BOE, ECB and RBA have committed to aligning with the new requirements and call on other market infrastructures and payment service providers to do the same.