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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.
Cloud & Infrastructure
DLT Projects in Trade, Trade Finance Have Matured: WTO, TFG
By Editors | 05/11/2020
Research from the WTO and TFG suggests a material acceleration of projects, consortiums and companies using DLT and blockchain within trade and trade finance.
CBDCs
HKMA Seeks ‘Multi-CBDC Platform’ to Enhance Cross-border Payments
By Manesh Samtani | 04/11/2020
Project Inthanon-LionRock with the BOT is entering its second phase, which will have participation from HKEX, 19 banks, and five corporates.
Payments & Settlements
Hong Kong, China Successfully Connect Trade Finance Platforms
By Manesh Samtani | 03/11/2020
Seven banks have already used the connection to conduct cross-border trade financing transactions, with the total trade value exceeding HK$26mn.
Emerging Prudential Risks
RBA Cuts Cash Rate to Record Low, Confirms More Bond-buying
By Editors | 03/11/2020
The official cash rate is expected to remain at 0.1 for three years. The RBA will also buy A$100bn of government bonds over the next six months.
Structural Regulation
New York to Provide Safe Harbour from LIBOR-related Litigation
By Editors | 30/10/2020
The legislation provides a safe harbor under New York law from litigation for the use of the recommended benchmark replacement.
Clearing & Post-Trade
ASX Extends Go-live of CHESS Replacement to April 2023
By Manesh Samtani | 29/10/2020
The one-year extension over what was proposed in June reflects a need for more post-trade processing capacity, highlighted by March’s extreme increases in trading volumes.
CBDCs
BIS, Swiss National Bank to Issue CBDC Proof of Concept by Year-End
By Sanday Chongo Kabange | 27/10/2020
CBDC research provides an “essential opportunity” to pool knowledge and resources and help enhance cross-border payments, says Benoît Coeuré, head of the BIS Innovation Hub.
Payments & Settlements
Australian Treasury Orders Review of Domestic Payments Regulation
By Shruti Khairnar | 27/10/2020
The review comes after two decades of the regulatory architecture of the domestic payments system being largely unchanged.
Structural Regulation
Singapore Publishes Timelines, Guidance to Support Transition to SORA
By Manesh Samtani | 27/10/2020
Under the timelines, all lenders and borrowers will stop issuing SOR-linked loans and securities that mature after 2021 by end-April 2021.
Structural Regulation
FSC Korea Designates KFTC to Manage P2P Financing Data
By Sanday Chongo Kabange | 26/10/2020
The Korea Financial Telecommunications and Clearings Institute will start operating a central registry for P2P transaction data from 1 May 2021.
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