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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.
CBDCs
PBOC Partners with Didi Chuxing to Test Digital Currency
By Editors | 10/07/2020
The PBOC has established a partnership with ride-hailing firm Didi Chuxing to test its digital currency in payments.
Clearing & Post-Trade
HKEX Launches Master SPSA Service for Fund Managers
By Editors | 10/07/2020
The new service allows pre-trade checking of China A shares for northbound Stock Connect trading at the fund manager or aggregate level.
Clearing & Post-Trade
HKEX Clears First HONIA-based Interest Rate Swaps
By Manesh Samtani | 09/07/2020
The first centrally cleared HONIA interest rate swap contract was between BOCHK and HSBC, marking a significant step to promote HONIA’s adoption in the financial industry.
Payments & Settlements
16 Banks Announce Initiative to Digitalise Payments Across EU
By Editors | 06/07/2020
The unified payment solution for consumers and merchants across Europe will encompass a payment card, digital wallet, and online and P2P payments.
Trading & Investment
PBOC Announces Planned Enhancements to Bond Connect
By Editors | 06/07/2020
The enhancements will include measures to reduce fees, extend trading hours, expand Bond Connect trading platforms; and enhance primary market service offerings.
Payments & Settlements
BSP On Course to Issue Central Bank Securities in Q3
By Editors | 05/07/2020
February 2019 amendments to the Central Bank Act restored the BSP’s authority to issue debt paper as part of its regular operations to manage liquidity and monetary policy.
Payments & Settlements
BSP Approves New Payment System Oversight Framework
By Editors | 02/07/2020
The BSP will be empowered to designate a payment system as systemically important, and replace its operator for a failure to satisfy regulatory obligations.
Clearing & Post-Trade
ASX Proposes April 2022 Go-Live of CHESS Replacement
By Editors | 30/06/2020
The revised timetable accounts for Covid-19 related disruptions, accommodates functionality changes, and provides more time to ensure user readiness.
Payments & Settlements
BOT Opens Applications for New FX E-Money Licences
By Editors | 30/06/2020
Non-bank operators can apply for a new licence to issue e-money in foreign currencies for customer payments for cross-border goods and services.
Fraud, Scams & Cybercrime
UPDATED – Wirecard Fraud: A Timeline of Events
By Editors | 30/06/2020
Wirecard has filed for insolvency amid multiple probes. BaFin faces scrutiny for mishandling clear red flags. EY faces lawsuits for failing to catch the improprieties earlier.
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