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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.
Cybersecurity
RBI Allows Banks to Introduce Card Token Facilities
By Editors | 09/10/2023
Card token creation has until now only been available through merchant applications or websites, not issuer banks.
Clearing & Post-Trade
Don’t Delay the Inevitable: T+1 Settlement is Imminent
By Val Wotton | 09/10/2023
DTCC’s Val Wotton discusses what the US move to a shorter settlement cycle means for Asia and beyond.
Payments & Settlements
India, UAE Sign Agreement to Interlink Payment Systems
By Editors | 09/10/2023
India will interlink the UPI with the UAE’s Instant Payments Platform. The RuPay switch and UAESWITCH card switches will also be interlinked.
Clearing & Post-Trade
ESMA Consults on Potential Move to Shorter Securities Settlement Cycle
By Editors | 08/10/2023
ESMA said it is looking to consider “all the possibilities for a shortened settlement cycle, including both T+1 and T+0”.
CBDCs
China Establishes CBDC Connectivity with Hong Kong FPS
By Editors | 07/10/2023
Members of the Hong Kong delegation at the Asian Games in Hangzhou are able to download the e-CNY mobile app and recharge their accounts via FPS.
Payments & Settlements
APAC Central Banks Explore Common Protocol for Regulatory Policy
By Manesh Samtani | 05/10/2023
Project Mandala will be run by BIS Innovation Hub Singapore Centre, along with the RBA, BOK, BNM and MAS, with collaboration from FIs.
Clearing & Post-Trade
HKEX Sets Launch Date for New Stock Connect Settlement Platform
By Editors | 04/10/2023
The settlement acceleration platform, known as HKEX Synapse, will launch on 9 October 2023 and improve post-trade efficiencies.
Cryptocurrency
MAS Grants Major Payments Institution Licence to Ripple
By Editors | 04/10/2023
Ripple received its in-principle approval from MAS just four months ago in June 2023. Singapore is the company’s Asia Pacific headquarters.
Structural Regulation
China, Germany to Strengthen Cooperation on Market Access
By Editors | 03/10/2023
Consensus was reached on 25 different topics, including on strengthening regulatory cooperation in the banking and insurance sectors.
Payments & Settlements
MAS Querying DBS Regarding Disruption of Payment Services
By Mark Johnston | 03/10/2023
MAS is following up with DBS to identify the root cause of a disruption to the bank’s FAST and PayNow services last week.
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