Committee on Payments and Market Infrastructures

Cryptocurrency

Crypto Assets Come Under International Regulatory Scrutiny

By Garima Chitkara | 19/07/2018

The FSB submitted a report to the G20 detailing a framework to monitor potential contagion risks and wealth effects arising from crypto-assets.

Cryptocurrency

Crypto ‘Poor Substitute’ for Conventional Money – BIS

By JP Reimann | 21/06/2018

Lack of trust, poor efficiency and vast energy use are cited among other reasons for cryptocurrency’s limited potential to replace conventional money in the latest BIS annual report.

Fraud, Scams & Cybercrime

CPMI Releases Strategy for Reducing Wholesale Payments Fraud

By JP Reimann | 09/05/2018

Central banks urge stakeholders to pursue adoption of common strategy to improve security of wholesale payments; will monitor progress to determine the need for further action.

Clearing & Post-Trade

CCPs Failing on Risk Management, Recovery Planning – IOSCO

By Garima Chitkara | 07/05/2018

Latest report on implementation of IOSCO’s Principles of Financial Market Infrastructures raises concerns about the speed of progress for CCPs putting in place risk management and recovery planning measures.

Market Data & Technology

FSB Publishes Second UPI Governance Consultation

By JP Reimann | 27/04/2018

Consultation covers fee models and cost recovery, intellectual property, standardisation, competition among UPI service providers, arrangements for UPI reference data library.

Clearing & Post-Trade

CPMI-IOSCO Publish Multi CCP Stress Testing Framework

By Editors | 12/04/2018

Framework supports stress tests examining potential macro-level impact of common stress event affecting multiple CCPs to gauge interdependencies between markets, CCPs and other entities.

Market Data & Technology

CPMI-IOSCO Issues Technical Guidance on OTC Derivatives Data

By Manesh Samtani | 12/04/2018

Guidance excludes UTI and UPI standards, includes parameters for how data should be reported rather than specific regulatory requirements.

CBDCs

BIS, CPMI Report Outlines Dangers of Central Bank Digital Currencies

By Manesh Samtani | 14/03/2018

Central bank-issued digital currencies can enhance payments, settlement, efficiency; but financial stability implications warrant consideration.

KYC & CDD

New Initiative to Help Boost Correspondent Banking Relationships

By Editors | 08/03/2018

Wolfsberg Group Questionnaire has potential to reduce costs associated with KYC application and streamline the establishment and maintenance of correspondent banking relationships.