Clearing & Post-Trade

CFTC Extends No-Action Letter for TAIFEX Swaps Clearing

14/09/2023

The six month extension allows US persons to continue clearing swaps on TAIFEX for proprietary trades while a formal CFTC exemption is pending.

Sustainable Finance

Singapore Launches Largest Ever Equity ETF to Drive Climate Action

14/09/2023

The SGX-listed fund is managed by BlackRock and anchored by Prudential, with additional backing from investors that include Temasek and Singlife.

KYC & CDD

Singapore Announces New Initiatives to Support Family Offices

14/09/2023

The initiatives will help new family offices orientate themselves in Singapore and strengthen their financial crime compliance capabilities.

Custody & Infrastructure

Industry Bodies Call on SEC to Reassess Custody Rule Proposal

14/09/2023

A letter from 26 trade associations calls on the SEC to re-evaluate the costs and economic impacts of its custody rule proposal.

Credit Risk

FSC Korea to Tighten Rules on 50 Year Mortgage Loans

14/09/2023

Banks only started offering 50-year mortgages this year, but household debt grew in August at the fastest pace since February 2020.

Anti-Bribery & Corruption

Former China Life Chairman Received Suspended Death Sentence

14/09/2023

Wang Bin was sentenced for accepting bribes worth CNY 325 million and illegally concealing CNY 54.2 million in overseas deposits.

CBDCs

HKMA, Central Banks to Beta Test CBDC Interoperability Solution

14/09/2023

New use cases for the solution, developed by Swift, are also being tested in a new sandbox environment by the RBA, BOT, CLS and other institutions.

Capital Adequacy

Taiwan to Release New Rules on Bank Capital Soon

14/09/2023

The biggest impact for banks is expected to be from the higher risk weighting applied to equity investment positions.

Liquidity Risk

UK FCA Intensifies Oversight of Bank Risk Assessment

13/09/2023

Risks from customers can affect a bank’s ability to have enough liquidity in challenging markets, the FCA’s Simon Walls said in a letter to bank CEOs.