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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.
Cybersecurity
RBI Orders MobiKwik to Investigate Alleged Data Breach
By Ranamita Chakraborty | 07/04/2021
The RBI has asked the payments provider Mobikwik to carry out an immediate forensic audit following allegations of a data breach.
Cloud & Infrastructure
Mizuho May Seek Compensation from Hitachi for System Glitch
By Editors | 07/04/2021
The delay of 263 transactions for corporate clients was said to be caused by a malfunction in a disk storage device made by Hitachi.
Clearing & Post-Trade
PBOC Optimises Interbank Bond Market Circulation Mechanism
By Editors | 06/04/2021
Bond registration, depository and clearing institutions will establish direct connections with the interbank bond market to enable electronic transmission of information.
Structural Regulation
Myanmar: Korean Banks Raise Vigilance After Employee Shooting
By Ranamita Chakraborty | 05/04/2021
A Shinhan Bank employee has died after being shot in the head by Myanmar’s military forces. Meanwhile, local private banks are being fined for remaining closed.
Clearing & Post-Trade
ISDA, CCDC Outline Barriers to Using RMB Bonds as IM Collateral
By Editors | 03/04/2021
China has to address questions around close-out netting enforceability, which restrict the use of Chinese government bonds as IM in global derivatives markets.
Payments & Settlements
Thailand, Vietnam Launch Cross-Border QR Code Link
By Sanday Chongo Kabange | 03/04/2021
The retail payment link will facilitate cross-border transactions between Thailand and Vietnam using local currencies.
Payments & Settlements
HKMA, BOJ Launch Cross-border DvP Link for JGBs
By Editors | 02/04/2021
The link supports DvP settlement of the HKD sale and repo transactions using JGB as collateral, eliminating settlement risk on such transactions.
CBDCs
PBOC Proposes Global Rules for CBDC Monitoring, Data Sharing
By Sanday Chongo Kabange | 01/04/2021
The PBOC suggests CBDC systems of different jurisdictions should be interoperable for monitoring and information sharing.
AI Risk & Governance
Central Banks Should Embrace Innovation: Jacqueline Loh
By Editors | 29/03/2021
MAS’ Jacqueline Loh outlined several central bank-led innovation initiatives underway, including a project that will help quantify the ESG impact of investments and loan portfolios.
Payments & Settlements
BPAY, eftpos, NPPA Seek ACCC Approval for Merger
By Ranamita Chakraborty | 28/03/2021
The three payment schemes say their merger will allow them to bring innovative products to market more quickly, and will not reduce competition.
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