Market Infrastructure

Indonesia, Vietnam Join Virtual Currency Clampdown

30/10/2017

Indonesian central bank says ‘financial innovation’ requires pre-approval; State Bank of Vietnam to pass law outlawing virtual currencies next year.

AML / KYC

Guangdong, HK to Boost Financial Cooperation

30/10/2017

Governments to relax restrictions on cross-border business operations and boost RMB flows; cooperate further on fintech and green finance.

AML / KYC

Philippines to Ease Forex Rules, Ending Registration System

30/10/2017

Central bank governor says rules will be relaxed so inbound investment, private sector foreign currency borrowing require reporting, not registration.

Capital / Liquidity

BCBS Gives Banks Just 2.5 Years to Work-out Step-in Risk

26/10/2017

Step-in risk guidelines due to be implemented by 2020 will require reporting rather than additional liquidity or capital charges.

Fintech / Regtech

Old Rivals Hong Kong, Singapore Launch Fintech Tie-up

26/10/2017

Decision to work together on distributed ledger, other fintech initiatives belie reputed rivalry between two financial centres.

AML / KYC

RBI Confirms ID-Bank Account Link Compulsory, to Create Public Credit Registry

25/10/2017

Central bank says Aadhar cards must be linked to bank account; proposed credit registry to be open to ‘all stakeholders’.

AML / KYC

ASIC to Seek 10-year Sentences for Corporate Criminals

25/10/2017

Securities regulator says current maximum punishments are not sufficient as they don’t wipe out gains made from illicit activity.

Market Infrastructure

Japanese Banks Overstaffed, Over-branched Amid Declining Profitability – BOJ

25/10/2017

Central banks also points to potential systemic risk from ‘common exposure’ as competition to lend money intensifies.

Capital / Liquidity

Philippines Eyes Single-digit RRR

25/10/2017

Current 20% RRR is one of the highest in the world; capital market development to focus on fixed income and repo markets.