Payments & Settlements

Structural Regulation

FSTB to Introduce ‘Corporate Rescue’ Bill for LegCo Deliberation

By Sanday Chongo Kabange | 21/10/2020

The FSTB also plans to introduce bills to provide targeted tax relief for private equity funds, enable a paperless securities market in Hong Kong, and progress work on the new eMPF platform.

Payments & Settlements

Tokyo Stock Exchange Faces FSA Probe Over System Outage

By Manesh Samtani | 20/10/2020

Based on an on-site investigation and findings from JPX’s own investigative committee, the FSA will consider issuing a business improvement order.

CBDCs

China Pushes For Faster Launch of Digital Currency

By Sanday Chongo Kabange | 19/10/2020

The Shenzhen government is issuing 10 million yuan worth of digital currency for testing as part of ongoing DC/EP pilot tests.

Payments & Settlements

PBOC to Establish Consumer Protection Fund for Payments

By Editors | 15/10/2020

The new regulations are aimed at establishing a long-term mechanism for resolving and disposing of risks at non-bank payment institutions, the PBOC said.

Payments & Settlements

About Half of Global FX Market Exposed to Settlement Risk

By Margaret Law | 15/10/2020

Without immediate action, FX settlement risk will continue to accumulate and introduce vulnerabilities into the global financial system, says Margaret Law at CLS.

Emerging Prudential Risks

G20 Ministers Extend DSSI Debt Relief, Welcome FSB, FATF Efforts

By Manesh Samtani | 14/10/2020

The G20 finance ministers and central bank governors have agreed to extend debt relief for low-income countries for six months, and welcomed efforts by the FSB and FATF.

Emerging Prudential Risks

FSB Publishes Letter to G20 Ahead of Virtual Meeting

By Manesh Samtani | 14/10/2020

The letter describes the FSB’s work to address issues of financial innovation and technology, promote a resilient and integrated global financial system, and address market fragmentation.

Payments & Settlements

Wirecard Service Halt Disrupts Singapore Merchants – Report

By Editors | 13/10/2020

Singapore merchants were caught off guard when Wirecard services stopped functioning this month. Many have been accepting payments via bank transfer, cash or digital platforms.

Payments & Settlements

FSB Publishes Roadmap on Enhancing Cross-Border Payments

By Editors | 13/10/2020

The roadmap seeks to address key challenges faced in cross-border payments including high costs, low speed, limited access and insufficient transparency.