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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.
Liquidity Risk
Singapore Can Withstand Severe Adverse Shocks: IMF
By Manesh Samtani | 17/07/2019
The IMF says Singapore’s financial system would continue to be resilient even under very adverse scenarios, but that foreign currency liquidity risk needs to be addressed.
Clearing & Post-Trade
Japan Completes Migration to T+2 Securities Settlement Cycle
By Editors | 16/07/2019
Japan has migrated to its new T+2 securities settlement cycle, on schedule, following a final successful migration rehearsal test over the weekend.
Trading & Investment
China, UK Seek to Establish Bond Market Connectivity – Report
By Editors | 12/07/2019
Following the success of the Hong Kong Bond Connect and Shanghai-London Stock Connect, China and the UK are exploring the feasibility of a bond connect programme.
Trading & Investment
RBI Proposes to Extend Trading Hours for Forex, Money Market
By Editors | 11/07/2019
An RBI working group has proposed extending onshore FX trading from 5pm to 9pm, in a bid to recapture liquidity lost to offshore markets in recent years.
Trading & Investment
China Introduces Trading Alerts for Interbank Repo Rates
By Editors | 11/07/2019
The move follows the PBOC’s suspension of traders earlier this week for “abnormal” trades which put the overnight repo rate far below normal market rates.
Cryptocurrency
Singapore Proposes GST Exemption for Digital Token Payments
By Editors | 09/07/2019
Transactions involving digital tokens or cryptocurrencies that function or are intended to function as a medium of exchange will be exempt from GST.
Structural Regulation
SFC Strengthens Protections for Client Assets Held by AIs
By Editors | 09/07/2019
Intermediaries and AIs must sign an acknowledgement letter making clear that assets held in designated client asset accounts are protected from recourse.
Trading & Investment
PBOC Suspends Traders for ‘Abnormal’ Overnight Repo Transactions
By Editors | 09/07/2019
The trades involved overnight bond repo transactions in the interbank market at prices below normal market rates.
Payments & Settlements
Open Banking, APIs Will Unlock a Host of Opportunities: NPP Australia
By Editors | 08/07/2019
A new white paper from NPP Australia provides an overview of developments in other real-time payments markets, including opportunities and challenges for the payments sector.
Data Privacy
Australia: Consumer Data Right Legislation Could Delay Open Banking
By Editors | 05/07/2019
The Consumer Data Right Bill is needed for banks to be able to transfer their customers’ personal data to another institution, a cornerstone of the open banking initiative.
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