FMI
CPMI-Iosco unveil plans for unique transaction identifiers
Consultation lays out proposals for codes to identify over the counter derivatives transactions, as part of efforts to improve reporting to trade repositories
RBA report reveals changing pattern of card use
Australians are increasingly favouring debit over credit cards for payments but both have been increasing in volume and value
Book notes: The Lion Wakes: A Modern History of HSBC, by Richard Roberts and David Kynaston
A weighty tome, commissioned by HSBC to commemorate its 150th anniversary
Bank of Russia presses ahead with rating agency plans
Russian central bank governor Elvira Nabiullina says banking sector is ‘safe’ and economy will soon have its own financial ratings agency and electronic payment system
CLS develops cleared FX settlement service with LCH.Clearnet
Designed specifically for central counterparties and cleared FX products, the service aims to minimise risk in the industry
UK payments regulator evaluates efforts to improve access
Banks and payment systems now expected to be more transparent about criteria for access; regulator says this is now bearing fruit, but the real tests are yet to come
Greek swaps contract drama continues
Ongoing controls mean some end-user payments are more than a month overdue
UK’s Chaps and Crest to close later from ‘summer 2016’
Bank of England says the settlement day for the UK’s high-value payment system and securities settlement system will be extended by an hour and forty minutes from summer 2016
First cross-border repo executed in Chinese bond market
ICBC's Singapore branch raises 200 million yuan on China's interbank bond market in first deal since PBoC scrapped limits on offshore access to $5.7tn market earlier this year
Dutch bulletin: T2S can only succeed if ‘many’ CSDs sign up
The Netherlands Bank's latest bulletin highlights the importance of more CSDs in Europe signing up to the Target2-Securities platform since the initial migration in June
CPMI and Iosco launch first consistency assessment of FMI principles
'Level three' assessment will examine the consistency with which the Principles for Financial Market Infrastructures have been applied to central counterparties
HKMA introduces ‘major' piece of financial infrastructure to facilitate China flows
New routing and settlement service will underpin mutual recognition of funds initiative launched July 1; will enhance Hong Kong's role as ‘leading asset management centre', says Pang
Korea introduces RMB discount window
Bank of Korea to launch emergency liquidity facility offering Chinese currency as part of broader infrastructure push aimed at bolstering Seoul's role as RMB hub
Fed’s Powell lays out payments reform priorities
Jerome Powell highlights four areas in which US payments need to improve as work begins to upgrade the economy’s payment systems
Central Bank of the Philippines receives international remittances award
Filipino central bank secures award by World Bank, European Commission and the United Nations for its efforts to broaden and deepen the country's financial markets
Bank Indonesia cracks down on ‘cash back' transactions
Central bank signs agreement allowing payments industry to seize card readers from merchants offering customers cash through fake credit card purchases
ECB welcomes ‘smooth’ T2S launch
Culmination of seven-year process sees first four CSDs migrate to the new platform and settle the first transactions, despite fears over remaining bugs
Kyrgyz central bank partners with World Bank to deliver payments upgrade
The Kyrgyz Republic has seen rapid growth in card payments in recent years, which the central bank fears could create instability if the oversight and operation of payment systems is not improved
Bank of England's Rule says reigniting securitisation market will take time
Executive director cautions against rushing to restart securitisation market, as a return to pre-crisis ‘fragile’ market would be counterproductive
ECB’s Mersch dismisses concerns over T2S launch at weekend
ECB executive board member admits a few bugs remain in Target2 Securities system, but argues they are not major and will not interrupt this weekend’s migration
Japan regulators further relax electronic trading mandate
JFSA is initially going to mandate only three tenors of IRS for platform trading
Cash payments still declining, Norges Bank report finds
Norwegians are making more and smaller payments using cards while cash use continues its downward trend, payments report shows
Danish payments report details challenging shift to real time
Completed in November 2014, ‘Straksclearing’ allows real-time settlement of retail payments, but has run into a few issues; National Bank of Denmark also in process of overhauling RTGS system
Future-proofing risk in the Chinese economy
Zhang Shenfeng, chairman of the China Financial Futures Exchange (CFFEX), argues that a multi-layered capital market must include an active financial futures to facilitate real-world risk management