As emphasised in opening remarks by Deputy Governor Jessica Chew at the Central Bank Payments Conference on 11 June 2024 in Kuala Lumpur, “The payment system lies at the heart of economic activity. If money is the lifeblood of the economy, then payment systems represent the veins that allow money to flow to where it […]
Category Archives: Supervision
14
May
May
Introduction There is a fair degree of consensus that in order to prevent the worst climate damages, global net emissions of carbon dioxide need to fall by about 45 per cent from 2010 levels by 2030, reaching net zero around 2050. To curb the adverse effects of global warming, the Intergovernmental Panel on Climate Change […]
10
Nov
Nov
The Basel Committee on Banking Supervision (BCBS or the Basel Committee) has undertaken a lot of work on climate-related financial risks. This blog covers three themes from BCBS’ work on this topic: The focus on climate-related financial risks (and not the broader environment-, nature-, or ESG-related financial risks). Addressing climate-related financial risks within the […]
Financial Stability, Supervision
Loss Absorbency of Additional Tier 1 Capital Instruments under Basel III: The Credit Suisse Case
30
Oct
Oct
Background: Additional Tier 1 (AT1) Capital Instruments under Basel III During the global financial crisis (2007-2009), several banks had to be rescued through capital injections by their governments which led to supporting not only the depositors but also the investors in Additional Tier 1 (AT1) and Tier 2 regulatory capital instruments. Inadequate loss-absorption by regulatory […]
Financial Stability, Payment Systems, Supervision
Fast Payments and Combating the Evolving Threat of Frauds and Scams in Asia
30
Oct
Oct
The purpose of this blog is to share how fast payments in Asia can be used fraudulently and to illustrate some of counter measures that are being implemented to combat frauds and scams. Across Asia and all around the world, scams and cybercrimes have been on the rise, particularly since the global COVID-19 pandemic. This […]
30
May
May
Stablecoins are a type of digital asset that purports to maintain a stable value by referencing physical, financial or virtual assets (FSB (2020)). They can be further differentiated into currency-based, financial instrument-based, commodity-based and crypto asset-based stablecoins. There are also algorithmic stablecoins that aim to maintain a stable value via protocols that provide for the […]
10
May
May
Despite the relatively widespread adoption of mobile and internet technology in the Caribbean, retail payments[i] are characterised by “high costs and insufficient access for large swathes of the region’s population (BIS (2020)).” The lack of access to a regular bank account or to other services of financial institutions through mobile devices adversely impacts people from […]
Financial Stability, Supervision
To Bail-In or not To Bail-In: A Question for Asian Financial Policymakers
16
Aug
Aug
The Great Financial Crisis (GFC), which began in 2007 and whose effects persisted for a decade, spurred a cavalcade of major worldwide regulatory, supervisory, and resolution reforms for the banking sector and the broader financial sector. In particular, the massive costs incurred by resolution and deposit insurance authorities (and ultimately, taxpayers) to clean up failed […]
Financial Stability, Supervision
Buy Now, Cry Later? A Look Into a New Phenomenon in Digital Payments and E-Commerce
17
Mar
Mar
Over the last few years, the growth of ‘buy now, pay later’ (BNPL) services has been exceptional. This niche product, finding itself conveniently at the intersection of the burgeoning digital payments and e-commerce spheres, and appealing to a new generation of spenders more comfortable with technology and less concerned about privacy than their predecessors, has […]
15
May
May
We are in the midst of an unprecedented pandemic. Apart from the tragic loss of life, the economic implications will be felt for years. This will not only be in terms of the businesses that have been closed down, many of which will never re-open, but also through effects on employment and career development, and […]
- 1
- 2