FINANCIAL STABILITY BOARD

Securities / Derivatives

Hong Kong Proposes Enhancements to OTC Derivatives Regime

By Manesh Samtani | 29/04/2019

In a joint consultation, the HKMA and SFC propose to mandate the use of UTIs in OTC derivatives trade reporting, and to discontinue masking relief for all jurisdictions but China.

Market Infrastructure

China, Indonesia, India Slow to Finalise Close-Out Netting Reforms

By Garima Chitkara | 24/04/2019

In its April quarterly round-up, ISDA detailed efforts in the three jurisdictions to ensure legal certainty on close-out netting, seen to be a critical issue for derivatives market development.

Market Infrastructure

TMA Consults on HONIA, Hong Kong’s Alternative Rate for HIBOR

By Manesh Samtani | 01/04/2019

The Treasury Markets Association is proposing technical refinements to HONIA to enhance its robustness and representativeness as an alternative reference rate to HIBOR.

Market Infrastructure

ISDA, FIA, IIF Publish CCP Resolution Incentives Analysis

By Garima Chitkara | 18/03/2019

ISDA, FIA and IIF members dispute the appropriateness of extending the NCWOL safeguard to equity holders, and debate the size of the “skin-in-the-game” tranche.

AML / KYC

BCBS Sets Out Minimum Expectations for Banks Exposed to Crypto

By Editors | 18/03/2019

The minimum prudential expectations for banks exposed to crypto-assets relate to due diligence, governance and risk management, public disclosure and supervisory dialogue.

Market Infrastructure

FSB to Explore Hazards of Leveraged Loan Market – Report

By Editors | 12/03/2019

In particular, the FSB will look at collateralised loan obligations to identify which institutions hold them and assess the risks they may pose in the event of a downturn.

Market Infrastructure

Banks Increasingly Focused on Conduct Risk – FSB

By Editors | 12/03/2019

At an FSB workshop on compensation practices, banks reported an increased focus on conduct risk, management accountability and culture reform.

Market Infrastructure

HKMA Asks Hong Kong Banks to Prepare for Benchmark Reform

By Editors | 06/03/2019

The HKMA says the transition to alternative reference rates will have significant implications for authorised institutions’ businesses, risk management and operational processes.

Market Infrastructure

RBI Proposes Overhaul of Bank Executive Compensation Norms

By Editors | 28/02/2019

The proposals include a minimum 50% variable component, a compulsory deferral mechanism, and clawback provisions to ensure compensation reflects performance.