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AML / KYC
Sustainable Supply Chains and the Role Banks Play
By Editors | 14/07/2020
Incoming rules from the EU, UK, Singapore and Hong Kong highlight the need for banks to gain a better understanding of the third party and supply chain risks their customers face.
Big Picture
CPMI Publishes Stage 2 Report on Enhancing Cross-Border Payments
By Editors | 14/07/2020
The report identifies 19 building blocks where further joint public and private sector work could enhance cross-border payments.
Market Infrastructure
FSB, BCBS Suggest Supervisory Action for Slow LIBOR Work
By Manesh Samtani | 09/07/2020
The available supervisory tools to accelerate transition at banks could include ad-hoc regulatory capital add-ons, administrative sanctions or other legal actions.
AML / KYC
Revised FATF Standards ‘Clearly Apply’ to Stablecoins
By Editors | 09/07/2020
Stablecoins are better placed than many virtual assets to achieve mass-adoption, which makes them vulnerable to AML/CTF risk, the FATF says.
Capital / Liquidity
BCBS Finalises Targeted Revisions to CVA Risk Framework
By Editors | 08/07/2020
Completion of the final adjustments to the CVA framework represents the conclusion of outstanding policy work related to the Basel III framework.
AML / KYC
FATF Highlights Progress to Adopt AML Standards for Virtual Assets
By Manesh Samtani | 08/07/2020
35 of 54 reporting jurisdictions have implemented the FATF Standards on virtual assets and VASPs, and progress has been made to develop technology for travel rule implementation.
AML / KYC
Using Privacy Preserving Analysis to Tackle Financial Crime
By Manesh Samtani | 07/07/2020
Privacy enhancing technologies, or PETs, may provide a “similar or, even, identical utility” compared to analysis of the raw data in some use-cases, says an FFIS paper.
Market Infrastructure
Singapore Regulator Raises Concerns Over LSEG-Refinitiv Deal
By Editors | 06/07/2020
Singapore’s competition regulator has concerns about whether Refinitiv’s widely used WM/Reuters FX benchmarks would be offered to rival providers at fair and reasonable terms.
Market Infrastructure
16 Banks Announce Initiative to Digitalise Payments Across EU
By Editors | 06/07/2020
The unified payment solution for consumers and merchants across Europe will encompass a payment card, digital wallet, and online and P2P payments.
Capital / Liquidity
BCBS Releases 18th Progress Report on Basel III Adoption
By Editors | 06/07/2020
In Asia Pacific, Hong Kong, Korea and Indonesia have in particular made significant progress towards implementing the Basel III standards.
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