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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
FSB Defines KPIs for Enhancing Cross-Border Payments
By Editors | 18/11/2022
The KPIs will help to measure progress towards achieving quantitative global targets for enhancing cross-border payments, the FSB said.
Fraud, Scams & Cybercrime
FTX’s “Complete Failure” of Corporate Controls, Worse Than Enron
By Manesh Samtani | 18/11/2022
Restructuring specialist John J Ray says FTX’s failure is the worst he has ever seen, citing control failures and the “complete absence” of trustworthy financial information.
PEPs & Sanctions
USCC Calls for Formation of China Sanctions Planning Committee
By Editors | 17/11/2022
Congressional advisory body USCC says a new committee should be formed to develop options to respond to possible hostile action by China against Taiwan.
Clearing & Post-Trade
ASX Pauses CHESS Replacement Project to Reassess Design
By Manesh Samtani | 17/11/2022
ASX will write off about A$250mn in capitalised software, in response to an independent review by Accenture. ASIC and the RBA express disappointment.
Data Privacy
New Zealand Confirms Plans to Roll-out Out Open Banking
By Editors | 16/11/2022
The banking industry will be the first sector in New Zealand to implement a Consumer Data Right mechanism, like in Australia.
Payments & Settlements
FSC Korea to Create Online Platform for Replacing Costly Loans
By Editors | 16/11/2022
The platform will allow borrowers to compare interest rates offered by lenders and transfer their loans based on repayment costs.
Payments & Settlements
China Launches New Platform for Personal Pension Investors
By Editors | 15/11/2022
The platform allows users to open accounts, view product information, and communicate with FIs offering pension and wealth management products.
Cloud & Infrastructure
MAS, UN to Jointly Develop Digital Finance in Pacific Island LDCs
By Editors | 15/11/2022
The collaboration includes measures to improve MSME access to financing and financial services, initially in Pacific Island LDCs.
Payments & Settlements
Five ASEAN Central Banks Sign MoU on Payments Connectivity
By Sanday Chongo Kabange | 15/11/2022
The MoU is the first that brings together multiple ASEAN central banks under a single multilateral agreement to enhance cross-border payments.
Credit Risk
Philippines Introduces Standard Forms for Business Loan Applications
By Editors | 13/11/2022
Lenders have 18 months to use the new standard form, which the BSP says will make credit more accessible to small businesses.
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