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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
Sri Lanka: CBSL Collaborates with Industry on Inward Remittances
By Duruthu E Chandrasekera | 12/10/2021
The central bank is working with banks, mobile operators, and government agencies to launch a new mobile app for inward remittances.
Emerging Prudential Risks
FSB Reports Progress on NBFI Risks, Cross-border Payments
By Editors | 12/10/2021
A letter to the G20 ministers from the FSB focuses on work to develop a more resilient NBFI sector and address challenges in cross-border payments.
Payments & Settlements
SEBI to Stop Use of Pool Accounts for Mutual Fund Transactions
By Editors | 10/10/2021
From 1 April 2022, investor money should be directly credited to the bank account of the mutual fund scheme when an investor purchases units.
Operational Risk
Mizuho Experiences Eight System Glitch for the Year
By Editors | 08/10/2021
The system failure affected 387 transactions for foreign exchange trades. Mizuho is required to submit a report on its IT systems to the FSA by 29 October.
Payments & Settlements
CPMI Calls for Solutions to Expand PvP Settlement
By Editors | 08/10/2021
Banks and fintechs are invited to share their views on potential solutions to expand PvP settlement to further mitigate FX settlement risk in global markets.
Trading & Investment
Hong Kong Announces Initiatives to Bolster Financial Hub Status
By Manesh Samtani | 07/10/2021
Chief Executive Carrie Lam announced measures to improve the stock market listing regime and enable RMB-denominated securities in Hong Kong.
Stablecoins
PFMI Applies to Global Stablecoins, CPMI & IOSCO Confirm
By Editors | 07/10/2021
The transfer function of a stablecoin arrangement is “comparable” to the transfer function performed by other types of financial market infrastructures.
Liquidity Risk
CBSL Roadmap Outlines Six Month Plan to Stabilise Sri Lanka
By Duruthu E Chandrasekera | 06/10/2021
Export proceeds must be repatriated and converted to local currency. The loan moratorium will be unwound gradually. Liquidity support will be provided to banks.
PEPs & Sanctions
SWIFT Publishes Guidelines for Screening ISO 20022 Messages
By Editors | 06/10/2021
Richer data in ISO 20022 messages allow financial institutions to potentially reduce false positives in sanctions screening, SWIFT says.
CBDCs
HKMA Seeks Input on Technical Design for Retail CBDC
By Manesh Samtani | 05/10/2021
The technical architecture proposed in a new whitepaper includes a privacy preservation arrangement that also allows for transaction traceability.
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