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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 Completes Another gpi Pilot with UK Faster Payments
By Editors | 11/10/2020
Over the past two years, SWIFT has run successful proof of concepts with payment infrastructures in Singapore, Australia and Europe.
Trade Based Money Laundering
Singapore Banks to Develop Trade Finance Registry to Combat Fraud
By Manesh Samtani | 06/10/2020
DBS and StanChart are leading a project to develop a central registry which will prevent borrowers from using the same collateral to secure loans with multiple banks.
Payments & Settlements
SWIFT, Singapore IMDA Join Forces to Digitalise Trade Documents
By Editors | 06/10/2020
The collaboration will pave the way for the seamless exchange of electronic trade documents around the world, shorter trade processing times, and opportunities for innovation.
Cloud & Infrastructure
Australia to Allocate A$800m to Digital Initiatives in Budget
By Editors | 02/10/2020
The plan includes the development of a digital identity system, modernisation of business registers, rollout support for the CDR, and regtech/fintech initiatives.
Payments & Settlements
SWIFT Developing Low-Value Cross-Border Payments Service
By Editors | 02/10/2020
The new initiative will improve the payments experience for consumers and SMEs, making them faster, more transparent, easier and competitively priced.
Payments & Settlements
SAFE Eases Administrative Burden of Bank Statistical Reporting
By Editors | 01/10/2020
Rule revisions relax requirements for banks to print foreign payment and collection vouchers, while also clarifying electronic forms and vouchers may be used in submissions.
Trading & Investment
DBS, ICBC Issue First Club Loan Pegged to SORA
By Editors | 01/10/2020
The SORA-pegged club loan coupled with a cross-currency swap, which provides added certainty on interest rates and swap SGD proceeds into USD.
Structural Regulation
Two More Virtual Banks Launch in Hong Kong
By Manesh Samtani | 01/10/2020
Ant Bank and Ping An OneConnect Bank launched virtual banks in Hong Kong. Fusion Bank is the only virtual bank that has not yet commenced operations.
Clearing & Post-Trade
DTCC Outlines Steps to Fully Dematerialise US Securities Market
By Editors | 01/10/2020
DTCC believes that the industry can achieve full dematerialisation of over 98 percent of all US physical certificates in the next three years.
Payments & Settlements
MAS Orders Wirecard Entities to Cease Singapore Payment Services
By Editors | 30/09/2020
Wirecard has informed MAS that it is unable to continue providing payment processing services to a significant number of merchants.
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