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Reporting on regulatory developments, innovations, and risks in payment systems and settlement processes essential for the transfer of money and securities.
Payments & Settlements
NPCI Extends UPI Market Cap Compliance Deadline to End 2024
By Mark Johnston | 07/12/2022
The NPCI has for the third time extended its compliance deadline for imposing a 30 percent market cap limit on UPI payment apps.
Trading & Investment
China Finalises New Rules to Encourage Panda Bond Issuances
By Editors | 05/12/2022
The rules do not impose restrictions on the retention of funds raised by panda bonds in China or remittances abroad.
Payments & Settlements
BSP Launches New, Free, Interoperable Bill Payment Facility
By Editors | 05/12/2022
Through Bills Pay PH, customers can make digital payments to almost 500 on-boarded billers for free even if they use different payment service providers.
Clearing & Post-Trade
Euroclear to Link Global Investors to Korea Treasury Bonds
By Editors | 05/12/2022
Euroclear Bank and Korea Securities Depository will collaborate to provide international investors post trade access to Korea treasury bonds and monetary stabilisation bonds.
Payments & Settlements
UK Regulator Fines Barclays Over Non Transparent Card Fees
By Editors | 04/12/2022
Barclays was fined by the PSR for failing to give retailers full information about the costs of its card services for three years.
Cryptocurrency
FTX Japan to Allow Withdrawals Starting in January
By Editors | 04/12/2022
Under Japanese law, crypto businesses are required to keep users’ assets segregated, shielding FTX Japan from the bankruptcy proceedings in the US.
PEPs & Sanctions
G7 Powers Set to Implement Oil Price Cap on Russian Crude
By Editors | 04/12/2022
EU ban on seaborne crude oil imports from Russia to take effect. G7 oil price cap will only insurers to cover vessels carrying Russian crude sold under USD 60.
Fraud, Scams & Cybercrime
US Banks Preparing to Accept More Liability for Zelle Frauds
By Editors | 04/12/2022
Under the planned rules, member banks would be responsible for certain fraudulent transactions made on the Zelle network, even if self-initated by the customer.
Liquidity Risk
BOJ Relaxes Terms of Securities Lending Facility
By Editors | 02/12/2022
The move is aimed at ensuring stability in the market and easing tight JGB liquidity in the repo market.
Payments & Settlements
MUFG Becomes First Japanese Bank to Join CLSNet
By Editors | 01/12/2022
MUFG says CLSNet will enable it to improve operational efficiency and reduce risk for currencies that are not currently eligible for CLSSettlement.
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