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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.
Clearing & Post-Trade
Global Fund Association Calls on SEBI to Delay T+1 Implementation
By Editors | 25/10/2021
To support T+1 settlement, FPIs and their service providers would need to completely re-engineer the settlement and funding process, ICI says in a letter to SEBI.
Anti-Money Laundering
Inconsistent AML Approaches Cause Cross-border Payment Frictions
By Editors | 23/10/2021
The FATF says inconsistent implementation of AML/CFT requirements increases cost, reduces speed, limits access and reduces transparency in cross-border payments.
CBDCs
BOJ Seeks Simple CBDC Design That Promotes Competition
By Editors | 17/10/2021
While the BOJ still has no plan to issue CBDC, the inability to ensure interoperability with other countries could create issues for Japan.
Payments & Settlements
PBOC Tightens Rules on Use of Payment Acceptance Terminals
By Mark Johnston | 17/10/2021
The geographical location of bank card and barcode payment acceptance terminals must be established and monitored to ensure consistency with the merchant’s registered location.
Clearing & Post-Trade
JSCC Sets Date for Bulk Conversion of LIBOR Swaps
By Editors | 14/10/2021
Japan Securities Clearing Corporation will conduct a bulk conversion exercise during the weekend of 4–5 December to convert JPY LIBOR contracts to TONA contracts.
Payments & Settlements
More Than 100 Banks Sign On to Adopt ‘SWIFT Go’
By Editors | 14/10/2021
SWIFT Go is an instant cross-border payments service for SMEs and retail customers that was launched at seven banks in July.
Data Privacy
PBOC Vows to Fill Gaps in FinTech Regulation
By Mark Johnston | 14/10/2021
Governor Yi Gang says the PBOC will continue to strengthen its supervision of fintech companies, while also improving policy transparency and predictability.
Payments & Settlements
Cross-border Payments Roadmap Remains Firmly on Track: FSB
By Editors | 14/10/2021
The FSB has published a progress report on work to enhance cross-border payments as outlined in the G20 Roadmap last year.
Trading & Investment
SEBI Orders Mutual Funds to Direct More Trades to RFQ Platforms
By Editors | 13/10/2021
From 1 December, 25% of mutual funds’ corporate bond trades must be directed through RFQ platforms of stock exchanges.
Payments & Settlements
EBA Clearing, SWIFT, TCH Collaborate on Cross-Border Payments
By Mark Johnston | 12/10/2021
A POC has been completed that uses existing payment systems in the US and Europe to achieve synchronised settlements in cross-border payments.
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