Payments & Settlements

Payments & Settlements

FSC Korea to Expand Loan Switching Platform to More Loan Types

By Editors | 26/09/2023

The online loan transfer system launched in May for credit loans will become available for mortgage loans for apartments and jeonse loans for all housing types.

Payments & Settlements

FSB Identifies Data-related Challenges in Cross-Border Payments

By Mark Johnston | 26/09/2023

The FSB is developing recommendations to promote alignment and interoperability across data frameworks applicable to cross-border payments.

Payments & Settlements

WEF Paper Proposes Four Actions to Enhance Cross-Border Payments

By Mark Johnston | 26/09/2023

The paper says improving regulatory interoperability can improve the efficiency, security and inclusiveness of cross-border payments, benefiting businesses and individuals.

Clearing & Post-Trade

OCBC Joins LCH SwapClear and HKEX’s OTC Clear

By Sanday Chongo Kabange | 24/09/2023

Direct clearing membership with LCH SwapClear and OTC Clear will help lower costs and enable better hedging tools for investors.

CBDCs

HKMA Says More Central Banks Will Join mBridge Platform

By Editors | 23/09/2023

HKMA CEO Eddie Yue said an MVP will soon be launched to pave the way for the “gradual commercialisation of mBridge”.

Payments & Settlements

Korea to Relax Rules to Boost Offshore Lending and Trade Finance

By Editors | 23/09/2023

The changes will enable financial institutions, including foreign banks operating in Korea, to transfer foreign currency denominated debt to overseas entities.

Clearing & Post-Trade

JSCC Allows MTFs and SEFs to Clear Swaps Without Take-up Process

By Editors | 21/09/2023

Tradeweb said the decision to replace the “time-consuming and redundant” take-up process will enable clients to benefit from fully automated workflows.

Fraud, Scams & Cybercrime

Singapore to Consult on Scam Loss Sharing Framework Next Month

By Editors | 19/09/2023

Minister Alvin Tan said the government aims to publish a consultation paper on the “Shared Responsibility Framework” next month, focusing on phishing scams as a start.

Fraud, Scams & Cybercrime

EBA CLEARING Issues Specifications for New Anti-Fraud Functionality

By Editors | 18/09/2023

Nine banks are engaged in the data model training for the new fraud-fighting functionality in STEP2 and RT1.