Financial market infrastructure
EU hands CCP members a narrow win on skin in the game
Clearing members could use the final rules to push for higher CCP capital globally
‘Big Tech’ firms could harm financial stability – DNB paper
Technology firms’ data access could lead to their dominance of some markets, researchers warn
Indonesia eyes netting changes to enable derivatives CCP
Central bank says legal amendments will pave way for locally cleared NDFs and interest rate swaps
Chinese state-run banks start testing PBoC’s ‘e-wallet’
Four biggest state banks trialling payments system for PBoC’s “digital yuan”
Bank of Japan intensifies CBDC research
Central bank appoints new CBDC head as ruling party warns Chinese effort poses security threat
Fed reveals instant payment plans
FedNow will feature interoperability on ISO 20022 message standard and new liquidity tool
‘E-money’ is boosting financial inclusion in Philippines – deputy governor
“E-money” system has driven rise in citizens with bank accounts, BSP says
Thai central bank authorises facial recognition as KYC tool
Bank of Thailand says move will help reduce spread of coronavirus
National Bank of Georgia upgrades FX infrastructure
Move follows other financial market infrastructure reforms in recent years
FCA launches new digital sandbox
Project will give firms access to “high-quality datasets” to test new technology
MAS finishes work on prototype blockchain payments system
Singaporean central bank and investment fund will share details of blockchain-based payments system
Contactless cards change young people’s payment habits - OeNB paper
Researchers use data on randomly selected 21,000 banking customers in Switzerland
Fed develops new fraud prevention model
Federal Reserve wants model to be voluntarily adopted across US payments system by 2024
Bank of Korea sets up digital innovation division
Korean central bank aims to increase CBDC research and create new statistics system
Mersch says retail CBDC could destabilise financial system
Central bank digital currency could worsen bank runs and harm disintermediation, ECB official says
MAS announces $4.2 million support for Singapore fintech firms
New support for fintech sector follows $88 million package announced in April
National Bank of Denmark divests stake in securities firm
Central bank will sell its 24.2% ownership of VP Securities to Euronext
PBoC: over 1,000 Chinese finance workers infected by Covid-19
Deputy governor says 42 employees of finance firms have died because of coronavirus
Authorities struggle to find staff with fintech skills – William Coen
Regulators should concentrate fintech firms’ risk and governance approaches - former BCBS secretary
FedNow: the advantage of going last
While the Fed is late in developing instant payments, it can learn about fraud detection, interconnectivity and directory services strategies from Europe, the UK and Australia
Wider use of LEIs will improve stability, says DNB president
LEI system should be improved and made compulsory for more types of financial data – Klaas Knot
US must review payments system oversight, Brainard says
Big tech’s currency plans could mean payments oversight is further weakened – senior Fed official
Bank of Italy and regulator agree joint cyber security strategy
New approach will aim at guarding specific types of financial market infrastructure
European banks must improve ‘big data’ practice – EBA report
Current regulatory framework is adequate but banks must work hard to improve trust, EBA says