Structural Regulation

China Tightens Regulations on the Use of the Word “Bank”

08/12/2022

Banks and insurers are required to report entities that are discovered using the word “bank” illegally, and may not provide services to such entities.

Capital Adequacy

RBI Issues Revised Regulatory Framework for UCBs

08/12/2022

The four-tiered regulatory framework for UCBs will allow the RBI to prescribe more differentiated requirements based on size.

Fraud, Scams & Cybercrime

Philippines Jails Former Bankers for Creating False Loans

08/12/2022

Former chief operating officer and former compliance officer of now-defunct Orani Rural Bank created fictitious loans by falsifying documents.

Sustainable Finance

BOT, UK Government Agree to Cooperate on Sustainable Finance

08/12/2022

The UK and BOT will work together to improve financial inclusion, as well as promote sustainable finance and sustainability-related disclosures in the Thai financial sector.

Fraud, Scams & Cybercrime

MAS Bans Former UOB, OCBC Representative for 15 Years

08/12/2022

The former representative deceived seven customers into transferring S$2mn to his personal bank accounts by promoting fictitious fixed deposits and other investment products.

Climate Risk

Banks Get New Guidance on Financing Net Zero in Agriculture

08/12/2022

The new guidance sets out four key steps for setting agricultural emissions targets and calls on banks to engage with farmers on sustainable strategies.

Emerging Prudential Risks

Geopolitical Risk Cited as Top Risk to Financial Industry: DTCC

08/12/2022

The top three threats in DTCC’s latest Systemic Risk Barometer survey were geopolitical risks & trade tensions, inflation, and cyber risk.

Cryptocurrency

NYDFS Sets Out Proposals to Charge Crypto Firms for Supervision

08/12/2022

The 22 crypto companies with a New York BitLicense will be subject to assessments to determine supervisory and examination costs.

Reporting & Disclosures

IFC, CDP Offer Guidance on Environmental Disclosure Policies

08/12/2022

The policy recommendations are based on an examination of more than 100 disclosure practices across developed and developing economies.