Clearing & Post-Trade

ESMA Recognises Indonesia’s IDClear as Third Country CCP

29/10/2023

The recognition will make it easier and more cost-effective for European counterparties to access Indonesia’s derivatives market.

Operational Risk

Japan FSA Directs Banks to Further Improve Internal Audit Function

29/10/2023

The sophistication of internal audits differs across banks, largely due to the degree of involvement by management, the FSA says.

Climate Risk

China Issues Rules for Relaunch of Voluntary Carbon Market

29/10/2023

The relaunch of the CCER scheme will provide a voluntary mechanism for participants in the national carbon market to offset emissions.

Climate Risk

Global CEOs Calls for More Government Action on Climate

28/10/2023

The Alliance of CEO Climate Leaders calls for streamlined regulatory processes and globally harmonised climate disclosure and measuring standards.

Payments & Settlements

US Regulator to Lower Fees on Debit Card Transactions

28/10/2023

The Fed proposed to lower the cap on fees banks can charge merchants for processing debit card transactions.

Credit Risk

Country Garden Declared in Default on Offshore Bonds

28/10/2023

Country Garden is expected to move towards a restructuring that is expected to have a worse impact than Evergrande’s 2021 failure.

Emerging Prudential Risks

China Unveils Plans to Tackle Local Govt Debt Risks

27/10/2023

China will issue CNY 1 trillion of government bonds and allow local governments to front load part of their 2024 bond quotas.

KYC & CDD

Taiwan FSC Issues New Digital Identity Verification Guidelines

27/10/2023

The guidelines will make it easier for financial institutions to implement new identity verification mechanisms and scenarios.

Anti-Money Laundering

BAFT Updates Guidelines on Correspondent Banking Relationships

27/10/2023

The guidelines include new sections on ISO 20022 migration and special considerations for money services businesses and fintechs.