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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.
Payments & Settlements
IFSCA Consults on Regulations for GIFT City Payment Firms
By Mark Johnston | 13/06/2023
The proposed regulations cover authorisation, supervision, governance arrangements, and risk management.
CBDCs
HKMA to Start ‘Paving the Way’ for e-HKD Implementation
By Manesh Samtani | 12/06/2023
The HKMA expects that it will take at least two to three years to build a wholesale layer of production grade for possible e-HKD implementation.
Payments & Settlements
SEBI Permits Mutual Funds Greater Participation in Repo Market
By Mark Johnston | 11/06/2023
Mutual funds can participate in repo transactions involving commercial papers and certificates of deposit.
CBDCs
RBI to Make CBDC QR Codes Interoperable With UPI System
By Editors | 09/06/2023
The RBI issued the e-rupee as a pilot project late last year. Deputy governor T Rabi Sankar 1 million customers will be active on the CBDC by end-of-month.
Payments & Settlements
Australia Issues New Strategic Plan for Payments System
By Manesh Samtani | 08/06/2023
A new licensing framework will be introduced, including for payment stablecoin issuers. RBA will explore fast payment links with other jurisdictions.
Fraud, Scams & Cybercrime
In Global First, UK to Require Banks to Reimburse Fraud Losses
By Karen Ng | 08/06/2023
The Payment Systems Regulator will make it mandatory for banks, building societies and payment firms to reimburse victims of APP fraud.
Payments & Settlements
RBI Unveils Plans to Enhance Payment Systems
By Sanday Chongo Kabange | 08/06/2023
The RBI will allow Indian banks to issuance RuPay prepaid forex cards and expand the scope and reach of e-RUPI digital vouchers.
Clearing & Post-Trade
SEBI Issues New Framework for Client Funds Upstreaming
By Mark Johnston | 08/06/2023
Stock brokers will have to upstream all client funds to clearing corporations by the end of each day.
Payments & Settlements
Cambodia, Thailand Launch Second Phase of QR Payments Link.
By Editors | 07/06/2023
Thais visiting Cambodia can use their mobile banking apps to make cashless payments by scanning KHQR codes displayed by merchants.
Clearing & Post-Trade
OSTTRA Completes First Multilateral Conversions of SOR Currency Swaps
By Editors | 07/06/2023
DBS, OCBC and UOB participated in OSTTRA’s first multilateral conversion of USD/SGD swaps from SOR to SORA.
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