The transition of most of the global financial markets away from Libor and the adoption of risk-free rates is finally upon us. As the clock counts down to the demise of Libor for all new contracts, the focus is firmly on where the sticking points remain: the ‘tough legacy contracts’ and the US dollar loan market.

The whole world must deal with Libor transition, but the situation is especially complex in Asia. Each jurisdiction has a different approach to benchmarks, and several countries are going to end up with multiple rates. On top of that there are big questions about liquidity. So, is Asia ready?

OTC Markets shows that both medium-size domestic companies and large overseas ones can be publicly quoted in the US without exchange listings.

The digital pioneer’s consumer website and mobile app have been hit by a series of problems.

A second large AT1 deal this year shows increased investor confidence around the bank’s transformation, but timing the deal was tricky.

Designed to bring fixed-rate term financing to DeFi protocols offering only volatile overnight rates, Pairwyse could impact traditional swaps and repo.

China’s president is a modern-day emperor who rules with an iron fist. His ‘common prosperity’ push promises better jobs and more equality, but it’s causing analysts to ask if the market is no longer investible and investors to fret and pull back – at a time when the country needs foreign capital more than ever.

The International Sustainability Standards Board (ISSB) is one of the most closely watched developments in climate standards to have been announced at COP26. Although its launch was the culmination of an ambitious project, its work is only just beginning.

Foreign exchange forwards do not fall within the scope of uncleared margin rules, but that does not mean those rules have no effect on the FX business. Firms are having to consider the pros and cons of switching to cleared trades to avoid being impacted.

Supervisors attending this year’s meeting of the Institute of International Finance were at pains to show they would not be rushing to impose capital penalties on banks based on climate stress tests. But the issue is at the heart of a debate over what the limits to regulatory scope should be.

The banking sector will never pick its way through the climate change jungle without harmonized regulations. To meet global risks, a global sector needs global standards. It is time for Basel V.

The established banks have mixed feelings about the growth of buy-now-pay-later as they ponder new payment options that are undercutting lucrative credit-card transactions.

As conventional banks, asset managers and regulators embrace crypto, the institution warns this large and volatile asset class poses new risks to the world financial system.

A year after launch, the Taskforce on Scaling Voluntary Carbon Markets is close to setting standards for a murky market. Board member Chris Leeds discusses the journey so far, the challenges ahead and the opportunities that standardization could create for banks.

Annual stress tests of bank balance sheets were one of the last decade’s most obvious supervisory responses to the global financial crisis. With a wave of new bottom-up assessments now getting under way, regulators hope to do something similar with climate risks. Can they do it or will this simply result in a toothless box-ticking exercise?

Investors must understand the limits of regulatory efforts to measure climate stress at banks.

Increased trading of emerging market FX has prompted settlement provider CLS and some of the world’s largest banks to explore options for extending payment-versus-payment to a wider range of currencies.

China’s qualified domestic limited partnership scheme, which lets foreign asset managers raise money onshore in renminbi to invest offshore, is taking shape – but it is complex. Euromoney has some tips designed to stop you wasting time and money.

In May, Benjamin Diokno, governor of Bangko Sentral ng Pilipinas (BSP), proudly announced the formation of a new ‘bad bank’ asset management company regime under the Financial Institutions Strategic Transfer Act - known by the bold and bracing acronym, FIST.

From Beijing’s plans to overhaul its small-business stock exchange to Shanghai’s push to be a global financial services leader, legislators never seem to rest in China.

DeFi is not a strategic asset allocation for mainstream investors yet, but big gains on cryptos and now high yields are drawing in the front runners.

The European Banking Authority’s public consultation on guidelines for compliance officers once again highlights the vital role played by FX brokerage compliance teams in combatting financial crime.

A new anti-money laundering centre housed in the Baltic state’s central bank is growing and hiring fast. It aims to turn Lithuania into an AML hub – and to address and reverse the region’s questionable reputation.

Recent reports concerning a payment made by Deutsche Bank to Europe’s largest winery are a reminder that disputes over FX derivatives mis-selling have yet to run their course.

A Royal Commission in Papua New Guinea has heard evidence that accuses UBS of exploiting the country in a complex 2014 loan, which it is claimed enriched the Swiss bank inappropriately and was awarded over the objections of the then-Treasurer of PNG. It will report its findings in September.

With investors already struggling to generate positive yields on most money market funds, managers are concerned that proposed legislative changes could render some funds unviable.

Despite concerns over recent regulatory changes, synthetic risk transfers remain a key driver for business lending in markets where private investment is underdeveloped.

The European Commission keeps pressing, but a consolidated tape for bonds is not yet realistic – and firms should use AI analytics to create a quasi-tape.

Bank CEOs do not like it, but the regulators are fostering competition.

Paytm, whose largest shareholder is Ant Group/Alibaba, could raise India’s largest-ever IPO. It should be smoother than Ant’s own failed attempt, and that tells us something about changing regulatory positions.