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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.
Structural Regulation
Philippines to Ease Forex Rules, Ending Registration System
By Editors | 30/10/2017
Central bank governor says rules will be relaxed so inbound investment, private sector foreign currency borrowing require reporting, not registration.
Cloud & Infrastructure
Old Rivals Hong Kong, Singapore Launch Fintech Tie-up
By Editors | 26/10/2017
Decision to work together on distributed ledger, other fintech initiatives belie reputed rivalry between two financial centres.
Payments & Settlements
Singapore Enters 2nd Phase of Blockchain-based Payments Trial
By Editors | 09/10/2017
Trial has already been completed on interbank transfers; blockchain programme will be extended to include securities sector as well as payments.
Cloud & Infrastructure
HKMA Launches Smart Banking Initiative Including Enhanced Sandbox
By Samuel Riding | 29/09/2017
In addition to the enhanced sandbox, HKMA will also work on a new payment system, minimising regulatory friction in onboarding and other services.
Cloud & Infrastructure
ASEAN Fintechs, Banks Set up Pan-regional Sandbox to Boost Financial Inclusion
By Samuel Riding | 21/09/2017
Sandbox board includes ASEAN Bankers Association, Monetary Authority of Singapore and is being advised by Intel, Microsoft Asia Pacific and IBM Philippines.
Payments & Settlements
DLT Not Yet a Solution for Large Central Bank Applications – BOJ
By Samuel Riding | 11/09/2017
Japanese central bank and European counterpart conclude from ‘Project Stella’ tests of DLT in RTGS that the technology is not yet mature enough.
Clearing & Post-Trade
RBI Issues Final Tri-party Repo Guidelines
By Garima Chitkara | 14/08/2017
The Reserve Bank of India has allowed the use of tri-party repos by commercial banks, recognised stock exchanges and clearing corporations and other approved entities.
Payments & Settlements
Thai Bank Governor Calls for Greater Financial Connectivity Across Region
By Garima Chitkara | 10/08/2017
Central bank governor made comments during the opening ceremony of the Asian Financial Cooperation Association.
Cybersecurity
HKMA Collecting UnionPay ATM Withdrawal Data
By Garima Chitkara | 10/08/2017
Regulator has asked for number of withdrawals and amounts to regulate the use of UnionPay cards in Hong Kong.
Structural Regulation
Korean Banks Under Fire for ‘Excessive’ Fees
By Editors | 12/07/2017
FSS figures show banks have made $57.6bn from fees since 2013; President Moon pledged to tackle issue of excessive fees but no action has been taken yet.
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