Payments & Settlements

Fraud, Scams & Cybercrime

Australia Records Decline in Payment Fraud Rates

By Editors | 09/08/2019

AusPayNet’s latest data shows a decline in the overall rate of card fraud for 2018, alongside slower growth in online fraud.

Credit Risk

RBI Cuts Consumer Credit Risk Weight, Offers Boost to NBFCs

By Editors | 09/08/2019

The RBI will increase bank exposure limits for NBFCs, allow on-lending to priority sectors, and enable near-real-time tracking of payments fraud through the creation of a centralised registry.

Trading & Investment

China Allows Banks to Trade Bonds Via Stock Exchanges

By Editors | 08/08/2019

Currently, Chinese banks mostly trade bonds only in the interbank market. The move will increase their allowed scope for bond investments and improve the real economy’s access to financing.

Structural Regulation

RBNZ Consults on New Regulatory Regime for FMIs

By Editors | 07/08/2019

The RBNZ is consulting on a draft bill that sets out New Zealand’s new regulatory regime for financial market infrastructures.

Data Privacy

Australia Passes Consumer Data Right Legislation

By Manesh Samtani | 02/08/2019

The passage of the Consumer Data Right legislation clears the way for open banking to start in Australia in February 2020.

Payments & Settlements

NPP Australia Responds to RBA on Platform Access, Functionality

By Editors | 01/08/2019

Effective immediately, NPP Australia has established a mandatory compliance framework allowing it to designate core capability requirements and enforce compliance through non-compliance charges.

Payments & Settlements

RBA Policy Shift Opens Australian Payments Market to Tech Firms

By Manesh Samtani | 31/07/2019

An RBA policy update will make it easier for fintechs – and so-called BigTechs – to enter Australia’s payments system without having to obtain a banking licence.

Data Privacy

Australia to Re-Introduce Open Banking Legislation This Week

By Editors | 23/07/2019

The Australian Banking Association welcomes the re-introduction of the legislation, following a lapse earlier this year when the federal parliament was dissolved.

Payments & Settlements

SWIFT Completes Latest gpi Trial with Singapore FAST

By Editors | 21/07/2019

All cross-border payments in the trial, which involved 17 banks across 7 countries, settled end-to-end within 25 seconds. SWIFT gpi has also now been introduced for corporates.