Capital Adequacy

BCBS Calls for Greater Use of CCyB by National Authorities

06/10/2022

Authorities should adopt a positive CCyB rate in normal times. A report evaluating the impact and effectiveness of implemented Basel reforms has also been released.

Capital Adequacy

HKMA to Defer Implementation of Basel III Reforms

06/10/2022

Standards associated with credit risk, operational risk, the output floor, and the leverage ratio will implemented no earlier than 1 January 2024.

CBDCs

SWIFT Publishes Results of CBDC, Tokenised Asset Experiments

06/10/2022

The experiments show SWIFT can enable central banks to connect their CBDC networks to all other payment systems in the world through a single gateway.

DeFi & Web3

CFTC Allowed to Serve Complaint to DAO Through Website

05/10/2022

The CFTC intends to hold any voting member of the Ooki DAO individually liable for violations of the Commodity Exchange Act and CFTC regulations.

KYC & CDD

Singapore Passes Amendments to Business Trusts Act

05/10/2022

Unlisted business trusts will have to obtain and maintain information on the beneficial owners of units, and provide this information to authorities upon request.

Payments & Settlements

NPCI Signs MOU to Enable UPI Payments in Oman

05/10/2022

NPCI and Oman’s central bank will study the possibility of connecting the UPI and RuPay card systems used in India with similar systems in Oman.

Emerging Prudential Risks

Korea to Relaunch Market Stabilisation Fund This Month

05/10/2022

The stabilisation fund will be worth a reported $7bn and be used to inject money in the local stock market if it continues to fall.

Operational Risk

FMA Proposes Guidance on Keeping Proper Accounting Records

05/10/2022

The FMA offers guidance for reporting entities on their obligations under the FMC Act to keep proper accounting records.

Reporting & Disclosures

Taiwan Amends Prospectus Rules to Accommodate ESG Funds

05/10/2022

The draft amendments specify the disclosures securities investment trust funds must make in their prospectuses if they are ESG-themed.