News/Financial market infrastructure
HKMA unveils new wholesale CBDC project
De facto central bank to launch sandbox for testing settlement of tokenised deposits
Standardised FRTB leaves banks befuddled on residual risk
Benchmarking exercises find “weak consensus” among banks over notional values for exotics
Philippine central bank launches sustainable finance taxonomy
BSP is Asia’s latest monetary authority to set out framework to help tackle climate crisis
US CBDC ‘could enhance dollar’s international role’
Fed research claims issuing digital currency could increase demand for dollars more generally
Philippine central bank may issue wholesale CBDC in two years
Governor rules out using blockchain-based technology for digital peso
Europe’s new AI Act threatens supervisory ‘chaos’ for banks
Policy-maker says new role for European Commission could collide with ECB model risk regulation
Philippines readies new swaps benchmark
Philippine peso rates market has been without an interest rate benchmark since June 2023
Market seeks details of PBoC plan to open onshore repo trading
Traders welcome the move but want clarity on legal and collateral issues
EquiLend cyber hack exposes trade reporting dependence
Ransomware attack at securities lending platform disrupts regulatory compliance
Clearing members fear CFTC bending rules for crypto
Critics warn new framework for Bitnomial and LedgerX could undermine clearing integrity
Reasons for refusing mortgages ‘do not explain racial disparity’
Minneapolis Fed’s study challenges explanations given for why people of colour are treated differently
Extreme temperature harms household finances, warns paper
Payday loan delinquency and defaults increase during extreme weather
MAS suspends some remittance channels to China
Singapore’s central bank acts after Chinese authorities freeze around $10 million worth of remittances
CFTC sounds alarm on clearing capacity
US regulator warns porting cannot be guaranteed in the event of a large member default
Treasuries market is robust, NY Fed officials tell conference
Financial markets need more data transparency, though
Singapore, Malaysia and Indonesia launch cross-border payment links
Indonesia and Singapore say they intend to set up local currency settlement framework in 2024
Lagarde calls for stronger EU securities and markets authority
ECB president stresses completing capital markets union is essential to deal with deglobalization, ageing and climate change
Bank of Canada researchers claim breakthrough in credentialisation
System’s creators use a Merkle tree to create “secret-free and quantum-safe” method
RBA says CBDC decision is likely ‘some years away’
Australian central bank says a CBDC might improve payments system but also questions its necessity
Fed unveils new crypto supervision programme
Smaller banks need Federal Reserve authorisation before issuing stablecoins and dollar tokens
US bank lobbying spending increases sharply in Q2
ABA and ICBA increased their spending by 132.6% and 264% respectively between quarters