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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
SWIFT’s Enhanced Platform Endorsed by Six Global Banks
By Editors | 29/06/2021
Bank of China, BNY Mellon, BNP Paribas, Citi, Deutsche Bank and Standard Chartered have confirmed their preparations for the enhanced platform ahead of the November 2022 go-live.
Clearing & Post-Trade
HKEX Names Firms Piloting New Stock Connect Settlement Platform
By Sanday Chongo Kabange | 28/06/2021
BNP Paribas, Citibank, CSOP Asset Management, Invesco, Northern Trust, State Street, Standard Chartered, BNY Mellon and HSBC will join the HKEX Synapse pilot.
Custody & Infrastructure
Industry Cooperation is Key to Trade Finance Innovation
By Henry Roxas | 27/06/2021
R3’s Henry Roxas discusses the prevalence of paper-based methods in trade finance and the need for broader industry efforts to digitise practices.
Payments & Settlements
Malaysia, Thailand Establish Cross-border QR Payment Link
By Manesh Samtani | 21/06/2021
The first phase of the project, now complete, allows Thai users to make QR code payments to merchants in Malaysia, including for online e-commerce transactions.
Tokenisation
Indian Banks to Develop Blockchain System for LCs
By Ranamita Chakraborty | 21/06/2021
The initiative will eliminate paperwork, reduce transaction processing time and offer a secure environment for processing LCs.
Payments & Settlements
MAS to Migrate MEPS+ to ISO 20022 in June 2022
By Manesh Samtani | 21/06/2021
MAS is adopting a two-phased approach to migrate to ISO 20022, beginning with payments on MEPS+ in June 2022.
Liquidity Risk
US Fed Extends Swap Lines with Nine Central Banks
By Sanday Chongo Kabange | 20/06/2021
The Fed has extended facilities provided to the central banks of Australia, Korea, Singapore and New Zealand, among others.
Structural Regulation
China Passes Law Establishing Hainan as Free Trade Port
By Sanday Chongo Kabange | 15/06/2021
The law states that Hainan will implement a “minimalist” investment approval system and create an “open, transparent, and predictable investment environment”.
Payments & Settlements
BNM Sets Out New Draft Policy for E-Money Issuers
By Manesh Samtani | 14/06/2021
The exposure draft proposes to impose additional requirements including on capital for e-money issuers that have “substantial market presence”.
Payments & Settlements
Sri Lanka Central Bank Asks Private Sector to Borrow Offshore
By Ranamita Chakraborty | 12/06/2021
A zero cost swap facility is being made available for private forms to convert foreign currency borrowings into domestic currency.
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