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Reporting on regulatory frameworks and rules governing market design, authorisation, and oversight of key financial market participants and infrastructures.
Trading & Investment
ARRC Formally Recommends CME Group SOFR Term Rates
By Editors | 31/07/2021
Forward-looking term rates are needed for syndicated and bilateral corporate loans, as well as in the CLO and leveraged loans markets.
Cryptocurrency
Ripple Opens Japan-Philippines Remittance Corridor
By Manesh Samtani | 31/07/2021
Japan’s SBI Remit will connect with Coins.ph and crypto exchange SBI VC Trade to open the remittance corridor, leveraging Ripple’s on-demand liquidity service.
Structural Regulation
US SEC to Require New Disclosures from Chinese Issuers
By Manesh Samtani | 31/07/2021
Chinese issuers with VIE structures will have to “prominently and clearly” disclose that they face uncertainty about future actions by the Chinese government.
Structural Regulation
BSP Grants Fourth Digital Bank Licence to UnionBank
By Editors | 31/07/2021
UnionBank is the latest to receive the licence after Landbank’s Overseas Filipino Bank, Tonik Bank, and UNOBank.
Trading & Investment
ISDA, NAFMII Publish Standard Text to Enable IBOR Fallbacks in China
By Editors | 31/07/2021
New definitions will come into effect on 29 October 2021 to enable firms to include contractual IBOR fallbacks into onshore derivatives transactions.
Conduct, Culture & Accountability
HKMA Updates Guidance on Bank Remuneration Systems
By Manesh Samtani | 30/07/2021
Banks are expected to review their remuneration systems and adopt all necessary changes by 1 January 2022, the HKMA says.
Clearing & Post-Trade
ASX to Replace Standard Definitions for Interest Rate Swaps
By Editors | 29/07/2021
From 4 October, all OTC interest rate derivatives contracts will be treated as if they incorporated the new 2021 ISDA Definitions.
Structural Regulation
China Will Still Allow IPOs in the US, CSRC Tells Brokers
By Sanday Chongo Kabange | 29/07/2021
Regulators will continue to allow VIE structures, recognising that they serve as a vital way for companies to attract foreign capital.
Structural Regulation
Singapore Offers Guidance on Converting Legacy SOR Contracts
By Manesh Samtani | 29/07/2021
Guidance is offered on wholesale markets, corporate loans, derivatives, bonds and retail loans. A public education campaign will start in September 2021.
Payments & Settlements
BIS, MAS Set Out Blueprint for Cross-border Payments
By Ranamita Chakraborty | 29/07/2021
BIS Innovation Hub Singapore Centre and MAS have published a blueprint that could make real-time cross-border payments a reality in the next two to four years.
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