Market Infrastructure

Market Infrastructure

BOE to Increase Haircuts on LIBOR-linked Collateral from October

By Editors | 27/02/2020

The market need to see a decisive acceleration in effort in 2020 to ensure risk-free rates are adopted and LIBOR is left behind for good, the BOE’s Andrew Hauser said.

Market Infrastructure

RBNZ Launches New Payment Settlement System

By Editors | 27/02/2020

Replacing a 20-year old system, the new payment settlement platform comprises an RTGS system known as ESAS 2.0 and a central securities depository called NZClear 2.0.

Market Infrastructure

Australia Finalises ISO 20022 Migration Approach for Payment System

By Editors | 27/02/2020

From November 2021, all intermediaries for incoming cross-border payments must be able to receive ISO 20022 enhanced message content, and to pass on those messages in full.

Market Infrastructure

Myanmar Credit Bureau to Commence Operations in April

By Editors | 26/02/2020

It will take up to one year for the credit bureau to collect sufficient and meaningful credit data on local businesses before it will be provided to lenders.

Market Infrastructure

RBNZ Estimates Cyber-attacks Cost Financial Sector NZ$144m Annually

By Editors | 26/02/2020

More extreme events have a low probability but are still plausible, illustrating the importance of managing cyber resilience effectively, the RBNZ says.

Market Infrastructure

ISDA Launches New Consultation on Pre-cessation Fallbacks

By Editors | 25/02/2020

ISDA seeks input on whether to add a pre-cessation trigger to the permanent cessation fallbacks it is implementing for LIBOR in its standard documentation.

Market Infrastructure

Taiwan Banks Likely to Replace LIBOR with SOFR: FSC

By Editors | 25/02/2020

The central bank calls on local banks to carefully evaluate the effects of the LIBOR transition, formulate benchmark conversion plans, and review the plans regularly.

Market Infrastructure

ISDA Concludes Consultation on EUR LIBOR, EURIBOR Fallbacks

By Editors | 25/02/2020

Respondents selected the ‘compounded setting in arrears rate approach with a backward-shift adjustment’ and ‘five-year historical median approach to the spread adjustment’.

ESG / Sustainability

APRA to Develop Climate Risk Guidance, Assess ADI Vulnerability

By Editors | 25/02/2020

APRA will develop guidance on climate change financial risk, conduct a vulnerability assessment of ADIs, and include ESG in superannuation investment governance guidance.