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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.
Emerging Prudential Risks
Korea: FSC Financial Sector Focus to Include Risk, Competition, Innovation
By Sanday Chongo Kabange | 07/02/2021
The FSC’s 2021 policy agenda for the financial sector will include measures to bolster risk management while also strengthening competitiveness and facilitating digital innovation.
Payments & Settlements
Cambodia Officially Launches New Retail Payments System
By Ranamita Chakraborty | 05/02/2021
The development of the new system, known as Retail Pay, was backed by a $8mn grant from the Korea International Cooperation Agency.
Structural Regulation
LINE Bank Taiwan Granted Digital Bank Operating Licence
By Editors | 04/02/2021
LINE Bank could launch trial operations as soon as mid-March, with a view to launching full operations within the first half of the year.
Structural Regulation
Taiwan to Impose Tighter FX Rules to Curb Currency Speculation
By Ranamita Chakraborty | 04/02/2021
The move follows a probe into dubious currency practices at eight major grain merchants in Asia, facilitated by six foreign banks.
Payments & Settlements
SWIFT Forms Majority-owned Joint Venture with PBOC
By Editors | 04/02/2021
The venture will be able to obtain necessary licences for network management activities, for compliance with local regulations.
Payments & Settlements
Hong Kong MPFA Awards eMPF Contract to PCCW Solutions
By Ranamita Chakraborty | 02/02/2021
PCCW Solutions will build, implement, operate and maintain Hong Kong’s new eMPF Platform, with Singapore’s iFAST as its prime subcontractor.
Trading & Investment
MAS Outlines 2021 Plans to Continue Transitioning to SORA
By Manesh Samtani | 02/02/2021
SOR will now end 18 months later to reflect the IBA’s plans, but the transition to SORA in cash products and derivatives markets will continue at pace.
Clearing & Post-Trade
SGX-Temasek JV to Digitalise Bond Issuance Workflows
By Editors | 31/01/2021
The JV will partner with Covalent Capital to streamline the listing, straight-through processing and settlement of bonds and activities in bond lifecycle management.
Structural Regulation
HSBC Inaugurates IBU Branch at India’s GIFT City
By Editors | 29/01/2021
HSBC was the first global bank to obtain a licence from the IFSCA, set up in April 2020 as a unified authority for GIFT City financial services.
Payments & Settlements
PBOC Tightens Rules on Managing Customer Funds for Payment Firms
By Editors | 27/01/2021
Customer reserve funds must be deposited either at the PBOC or with an eligible commercial bank, and transferred only through a clearing institution.
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