International

Payments & Settlements

Lloyds UK Launches First Live Link of ‘SWIFT gpi Instant’

By Editors | 03/12/2020

Remittance payments from anywhere in the world destined for the UK routed through Lloyds can arrive in seconds with fee and foreign exchange transparency.

PEPs & Sanctions

The Increasing Reliance on Data for Sanctioned Securities Screening

By Manesh Samtani | 02/12/2020

The onus often falls on FIs to uncover any links between sanctioned entities and potentially related securities, which can involve a significant data challenge.

Anti-Money Laundering

FATF Consults on AML/CTF Frictions in Cross-border Payments

By Editors | 01/12/2020

The FATF seeks feedback to help identify how divergent AML/CFT measures adopted at the national level add to the challenges of cross-border payments.

Structural Regulation

Some USD LIBOR Settings May Continue Past End-2021

By Manesh Samtani | 01/12/2020

ICE Benchmark Administration intends to continue publishing some tenors of USD LIBOR until end-June 2023, which could allow time for most legacy contracts to mature.

Capital Adequacy

BCBS Oversight Body Closes Off Basel III Policy Agenda

By Editors | 30/11/2020

A coordinated approach to mitigating Covid-19 risks will be adopted. Capital and liquidity buffer drawdowns are encouraged. Future adjustments to Basel III will be limited.

Structural Regulation

IASB Consults on Accounting Standard for Intra-group M&A

By Editors | 30/11/2020

IFRS 3 Business Combinations does not specify how to report transactions involving transfers of businesses between companies within the same group, leading to diversity in practice.

PEPs & Sanctions

EU Set to Formalise Magnitsky-style Sanctions Regime

By Editors | 29/11/2020

New legislation provisionally agreed by member states will allow the EU to target individuals who commit gross human rights violations irrespective of nationality.

Trading & Investment

DSB Calls for Asian Members to Join Product Committee

By Editors | 29/11/2020

The DSB seeks to expand its Product Committee membership to include more OTC derivatives users from Asia to further broaden industry collaboration geographically.

Clearing & Post-Trade

CFTC Adopts Rule Changes to Facilitate Foreign Swaps Clearing

By Editors | 29/11/2020

The CFTC has extended no-action relief for non-US swap dealers from reporting requirements, and finalised rules for exempting non-US clearinghouses from registration requirements.