ADVERTISEMENT
Reporting on regulatory developments, innovations, and risks in payment systems and settlement processes essential for the transfer of money and securities.
Structural Regulation
SAFE Revises Reporting Requirements for Banks’ Overseas Activity
By Editors | 15/12/2021
Banks will have to report new items related to the London Stock Connect and Wealth Connect, as well as additional details on their overseas subsidiaries.
Payments & Settlements
CPMI Reviews Developments in Retail Fast Payment Systems
By Editors | 14/12/2021
The implementation of retail FPS across the globe has risen from under a dozen jurisdictions in 2010 to around 60 in 2021.
Anti-Money Laundering
IMF, WB Propose Framework for Assessing Remittance Corridor Risk
By Sanday Chongo Kabange | 14/12/2021
Corridor risk assessments will help to simplify AML/CFT and CDD measures in lower-risk remittance transactions.
Payments & Settlements
SWIFT Message Translation to Facilitate ISO 20022 Migration
By Editors | 14/12/2021
New service translates ISO 20022 messages to MT for banks that are not ready to process ISO 20022, which goes live in November 2022.
Data Privacy
FSB Explores Impact of Data Regulation on Cross-border Payments
By Editors | 14/12/2021
The FSB seeks to better understand how data requirements relating to privacy, security, storage, sharing and retention impact cross-border payments.
Cryptocurrency
Australia Unveils Plans to Reform, Modernise Payments System
By Sanday Chongo Kabange | 14/12/2021
The government plans to establish a licensing regime for crypto exchanges, a custody regime for digital assets, and explore the feasibility of a CBDC.
Structural Regulation
RBI to Require LEI Use in Large Cross-border Transactions
By Editors | 14/12/2021
From 1 October 2022, AD Cat-I Banks will have to obtain LEIs from resident entities undertaking capital or current account transactions of INR 500 million and above.
Payments & Settlements
BIS Calls for Interoperability in Global Payment Systems
By Sanday Chongo Kabange | 14/12/2021
Failure to achieve interoperability between payment systems has material costs and risks fragmenting the global financial system.
Capital Adequacy
RBI Loosens Rules on Bank Management of Overseas Units
By Manesh Samtani | 13/12/2021
The RBI will also introduce new rules for how banks classify and value their investment portfolios, and how payment systems charge their customers.
Payments & Settlements
CPMI to Define Service Level Template for Cross-border Payments
By Editors | 13/12/2021
Agreed service levels will establish consistency and certainty for all cross-border payment stakeholders based on a common framework, CPMI says.
JOIN OUR NEWSLETTER
An exclusive weekly selection of top stories from the Regulation Asia editorial team.