Payments & Settlements

    Reporting on regulatory developments, innovations, and risks in payment systems and settlement processes essential for the transfer of money and securities.

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    Supervision & Enforcement

    Australia to Align Timing of Super Payments With Wages

    By Editors | 04/05/2023

    Currently, employers pay superannuation quarterly, even though employees are paid in fortnightly or monthly pay cycles.

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    Payments & Settlements

    Indonesia, Korea to Use Local Currency in Bilateral Transactions

    By Editors | 02/05/2023

    BI and BOK will enable direct exchange rate quotations between the Korean won and the Indonesian rupiah in interbank trading.

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    Payments & Settlements

    Australia to Ban Use of Credit Cards for Online Gambling

    By Editors | 02/05/2023

    Bank Identification Numbers (BINs) will be used to identify and block credit card payments. The ACMA will enforce the ban.

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    Payments & Settlements

    India, Russia to Explore Cross-border Payment Linkages

    By Editors | 02/05/2023

    India agreed to explore the acceptance of Russian Mir cards, a link with Russia’s Faster Payments System, and adoption of Russia’s financial messaging system.

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    Liquidity Risk

    US Regulators Conclude Reviews into SVB, Signature Failures

    By Manesh Samtani | 01/05/2023

    The Fed, FDIC and NYDFS say SVB and Signature Bank were mismanaged, but that regulatory and supervisory lapses also contributed to their failures.

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    Payments & Settlements

    China Uses CNY Cross-border More than USD for First Time

    By Editors | 30/04/2023

    The yuan was used in 48.4 percent of China’s cross-border transactions in March, compared to 46.7 percent for the dollar.

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    CBDCs

    China to Start Using CBDC in Cross-Border Trade

    By Sanday Chongo Kabange | 28/04/2023

    Xuzhou will use the e-CNY for payment of Belt and Road trade costs; Changshu City will use it to pay civil servants.

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    Sustainable Finance

    Japan: Reforms Needed to Boost Digital Green Bond Market

    By Editors | 28/04/2023

    Expert panel finds that the technology used in JPX’s digitally tracked green bond has other applications, but some challenges need to be addressed first.

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    Structural Regulation

    RBI Eases Restrictions on Funds Held in GIFT City by Indians

    By Editors | 27/04/2023

    The RBI removed a requirement for Indian residents to repatriate funds that lie idle for 15 days in GIFT City bank accounts. Restrictions on interest-bearing accounts also relaxed.

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    Payments & Settlements

    New York Fed Tightens Rules on Access to Reverse Repo Facility

    By Editors | 26/04/2023

    The tighter requirements are said to be aimed at preventing stablecoin issuers from parking their reserves at the Fed.

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