INTERNATIONAL

Market Infrastructure

ISDA Unveils Preliminary Results of 2nd IBOR Fallbacks Consultation

By Manesh Samtani | 31/07/2019

For USD LIBOR, HIBOR and CDOR fallbacks, respondents prefer ‘compounded setting in arrears’ for the adjusted RFR and the ‘historical mean/median approach’ for spread adjustments.

Market Infrastructure

CCP12 Publishes Best Practices to Address Outsourcing Risk

By Editors | 26/07/2019

As CCPs move to more complex supply chain models, proper oversight mechanisms and controls need to be in place to manage the risks introduced by third-parties.

Market Infrastructure

BCBS, IOSCO Agree One-year Phased Extension of Initial Margin Rules

By Editors | 23/07/2019

Initial margin requirements for firms with uncleared derivatives exceeding $8bn have been extended to September 2021; firms exceeding a $50bn threshold will have to comply in September 2020.

Securities / Derivatives

FSB Adjusts Timelines to Implement Recommended SFT Haircuts

By Editors | 22/07/2019

The FSB has adjusted the implementation timelines for its framework recommendations for haircuts on certain non-centrally cleared securities financing transactions to align with Basel III.

Market Infrastructure

SWIFT Completes Latest gpi Trial with Singapore FAST

By Editors | 21/07/2019

All cross-border payments in the trial, which involved 17 banks across 7 countries, settled end-to-end within 25 seconds. SWIFT gpi has also now been introduced for corporates.

Market Infrastructure

CFTC Eases Foreign Clearinghouse Access to US Customers

By Manesh Samtani | 15/07/2019

An alternative compliance regime will be provided for non-US DCOs registered with the CFTC, while exempt DCOs will be allowed to offer clearing through foreign intermediaries.

Market Infrastructure

FSB Seeks Industry Input on Cyber Incident Response and Recovery

By Editors | 15/07/2019

The survey will inform the FSB’s development of a toolkit of effective practices for responding to and recovering from cyber incidents.

AML / KYC

FATF Issues Guidance on Terrorist Financing Risk Assessments

By Editors | 08/07/2019

The guidance provides good approaches, relevant information sources and practical examples for practitioners to consider when assessing terrorist financing risk at the jurisdiction level.

Fintech / Regtech

Asia Ahead of Other Regions in FinTech: IMF

By Editors | 04/07/2019

Policymakers are facing a balancing act between keeping up with the pace of fintech development and trying to ensure risks are well understood and mitigated.