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Fintech / Regtech
APRA Grants TransferWise Licence to Directly Access NPP
By Editors | 30/11/2020
Access to Australia’s real-time payments system will enable TransferWise to reduce foreign exchange fees and wholesale banking costs.
Market Infrastructure
Australia Gets New Guidance for Internal Auditors in Financial Services
By Editors | 29/11/2020
The Better Practice Guide was developed by industry practitioners with APRA and ASIC serving as vocal observers and EY and KPMG providing secretariat support.
Capital / Liquidity
RBA Speeds Up Timeline for Higher HQLA Holdings by Banks
By Editors | 25/11/2020
Initially planned to be achieved through a gradual increase until 2024, the RBA said banks can increase their holdings of HQLA to 30 percent by end-2021.
Market Infrastructure
APRA Finalises Revisions to EFS Reporting Standards
By Editors | 24/11/2020
Based on market feedback, the implementation date of the changes for most of the standards has been moved forward three months to the reporting period ending 30 September 2021.
Securities / Derivatives
ASIC Launches Probe into ASX Over Equity Market Outage
By Manesh Samtani | 23/11/2020
ASIC had earlier said it would determine whether ASX followed the relevant regulatory requirements and met its licence obligations.
Capital / Liquidity
APRA Announces A$35b Reduction in Committed Liquidity Facility
By Editors | 06/11/2020
Five banks applied for a reduction, reducing the aggregate CLF allocated to banks from A$223bn at 1 January 2020 to A$188 billion.
RBA Cuts Cash Rate to Record Low, Confirms More Bond-buying
By Editors | 03/11/2020
The official cash rate is expected to remain at 0.1 for three years. The RBA will also buy A$100bn of government bonds over the next six months.
Fintech / Regtech
RBA Launches New Project to Explore Wholesale CBDC
By Editors | 03/11/2020
The RBA has partnered with CBA, NAB, Perpetual and ConsenSys to explore if there is a future role for a wholesale CBDC in the Australian payments system.
Market Infrastructure
GFXC to Complete FX Global Code Review by Mid-2021
By Manesh Samtani | 23/10/2020
Among the key issues in the FX market has been settlement risk, given the increasing number of trades being settled without PvP protection, says RBA deputy governor Guy Debelle.
Market Infrastructure
Australian Regulators Urge Adherence to ISDA IBOR Fallbacks
By Editors | 14/10/2020
The ISDA IBOR fallbacks protocol and supplement were informed by extensive consultation with industry, including in Australia.
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