Manesh Samtani

The Wolfsberg Group says the FATF standards should explicitly recognise and encourage "alternative measures" such as limited-purpose account types and tailored monitoring.

10% of IRS transactions and FRN issuance by FIs in 2025 will be KOFR-based. Central clearing of KOFR-based swaps will also start in 2025.

BOK injects liquiditys. FSC chairman meets with foreign FIs and domestic firms. FSS governor asks analysts to trust in Korea's economic fundamentals.

The recommendations aim to promote global alignment in legal, regulatory and data frameworks relevant to cross-border payments.

The FSC said it will build a platform that provides open source AI models and data with performance and safety suitable for the financial sector.

The FSA says FIs should continue refining their model risk management frameworks, prioritising AI-specific models.

Bank Indonesia published areport presenting the PoC findings and outlining focus areas for future exploration, including digital securities.

RLUSD is backed by USD deposits, US treasuries and cash equivalents. Third-party attestations of the reserve assets will be published monthly.

The report outlines key recommendations based on the responses to the RFI and next steps to be considered by policymakers and FIs.

The mishap was attributed to a “miscommunication”. Banks, insurers reviewing NRIC practices. Security and privacy concerns persist.