Payments & Settlements

Payments & Settlements

BSP Urged to Regulate Away ‘Exorbitant’ Bank Transfer Fees

By Editors | 15/08/2022

Lawmaker Joey Salceda is calling on the BSP to set a cap on transfer fees charged by banks for the use of interbank payment systems.

Payments & Settlements

RBI Defers Deadline for Acquiring Banks to Purge Customer Card Data

By Editors | 09/08/2022

All entities in the transaction chain other than acquiring banks, card issuers and card networks must purge card-on-file data from 1 October 2022.

Payments & Settlements

FSB Gives Full Support to Wide LEI Use in Global Payments

By Clare Rowley | 09/08/2022

The FSB’s recommendation that the LEI should be used more widely in payments will catalyze increased global LEI adoption, says GLEIF’s Clare Rowley.

Payments & Settlements

NZBA Announces Expansion to Regional Banking Hubs Trial

By Editors | 08/08/2022

The first four hubs were opened in November 2020. The second phase of the regional banking hubs trial will see four more hubs open.

Payments & Settlements

Korea FSS Fines KakaoBank Over Remittance Service Failures

By Editors | 05/08/2022

The FSS said KakaoBank launched the new remittance service without proper testing, and provided prohibited loans to major shareholders.

Payments & Settlements

ECB Analyses Options for Enhancing Cross-Border Payments

By Manesh Samtani | 04/08/2022

Bitcoin and stablecoins are “unlikely” to be the “holy grail” of cross-border payments. Interlinked domestic payment systems and interoperable CBDCs show the most promise.

Trading & Investment

Moscow Exchange Commences Trading in First Yuan Bonds

By Editors | 03/08/2022

Yuan-denominated bonds will open up an additional source of FX liquidity for Russian borrowers, who have been cut off from the dollar, euro and other foreign currencies.

Clearing & Post-Trade

Guidance Issued for US Transition to T+1 Securities Settlement

By Editors | 02/08/2022

DTCC, SIFMA  and ICI have published guidance to help market participants prepare for the US transition to a T+1 securities settlement cycle in 2024.

Payments & Settlements

CPMI Explores Options, New Solutions to Increase PvP Adoption

By Editors | 02/08/2022

CPMI received “numerous promising proposals” for new solutions that may be capable of processing FX transactions that currently settle on a non-PvP basis.