International

Capital / Liquidity

BCBS Task Force Outlines Progress on Climate Risk Initiatives

By Shruti Khairnar | 20/10/2020

Kevin Stiroh, Co-chair of the Task Force on Climate-related Financial Risks, highlighted the importance of globally concerted efforts and information sharing.

Capital / Liquidity

Capital Buffer Rules May Need to Change, says BOE’s Jon Cunliffe

By Sanday Chongo Kabange | 19/10/2020

Restrictions on dividends and other payouts that can be imposed represent a ‘first-mover disadvantage’ to banks dipping into their capital buffers to support lending.

Market Infrastructure

FSB Publishes Cyber Resilience Toolkit for Financial Sector

By Editors | 19/10/2020

The financial system is only as strong as its weakest link, the FSB says, encouraging the use of the final toolkit to enhance cyber incident response and recovery activities.

AML / KYC

SoW/SoF Checks: What Does Good Look Like?

By Editors | 18/10/2020

Regulation Asia spoke to financial crime compliance experts about the ongoing effort required to achieve and maintain high standards for source of wealth and source of funds checks.

AML / KYC

Global Tax Evasion Probe Targets Euro Capital Bank, Puerto Rico

By Manesh Samtani | 18/10/2020

Euro Pacific Bank, founded in 2017 by Peter Schiff and Mark Anderson, is said to be used by up to 400 Australian nationals, about 100 of which are considered “high-risk”.

Market Infrastructure

FSB Sets Out Global Transition Roadmap for LIBOR Phaseout

By Editors | 18/10/2020

By end-2020, firms should be in a position to offer non-LIBOR loans to customers. By 25 January, firms should adhere to the ISDA fallbacks protocol.

AML / KYC

G7 Calls for Global Adoption of FATF Standards on VASPs

By Editors | 16/10/2020

Effective implementation of the FATF Standards, including the ‘travel rule’, is needed to combat a recent surge in ransomware attacks.

Market Infrastructure

About Half of Global FX Market Exposed to Settlement Risk

By Margaret Law | 15/10/2020

Without immediate action, FX settlement risk will continue to accumulate and introduce vulnerabilities into the global financial system, says Margaret Law at CLS.

Fintech / Regtech

RegTech Asia 2020: Artificial Intelligence, Privacy, and Ethics

By Editors | 15/10/2020

What are some of the challenges FIs face amid the growth of AI and machine learning with regards to privacy and ethics, and how can these be addressed?