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Credit Risk
Korea Unveils Measures to Address Revolving Credit Concerns
31/08/2022
Credit card revolving services charge high interest rates, lead to poor credit scores for consumers, and raise the risk of delinquency.
Credit Risk
BSP Approves Guidelines on Large Exposures Monitoring
31/08/2022
The guidelines set out the criteria banks should use to assess economic interdependence between connected counterparties, among other requirements.
Fraud, Scams & Cybercrime
Indian Banks Inconsistently Reporting Fraud Incidents to Regulator
31/08/2022
Kotak Mahindra Bank suggests such digital frauds are not being reported by other banks, making its own figures look disproportionately higher.
Payments & Settlements
Singapore Industry Group Launches New Funds Settlement Utility
31/08/2022
The utility will reduce manual steps, centralise processing, and facilitate reconciliation, thereby reducing settlement time and improving efficiency.
Structural Regulation
Grab-Singtel Digital Bank Set to Launch First Financial Product
31/08/2022
GXS Bank will launch a savings account product on 5 September, and expand into wealth and credit products over the coming months.
Structural Regulation
China to Reintroduce Approval System for Offshore Debt Issuance
31/08/2022
The NDRC is reverting to its pre-2015 approval-based system for companies looking to issue offshore debt with a maturity longer than one year.
Payments & Settlements
US to Launch FedNow Instant Payments Platform in Mid 2023
31/08/2022
The technical testing phase of the new FedNow Service will kick off in mid-September. The service will be ready to launch between May and July of 2023.
Fraud, Scams & Cybercrime
Chinese Police Arrest 234 Suspects for Henan Bank Fraud
31/08/2022
Authorities say they have made “significant progress” in recovering the stolen money and have also started repaying more victims of the fraud.
Trading & Investment
MOEX Set to Start Listing ‘Replacement Bonds’ – Report
31/08/2022
Replacement bonds are intended to help Russian companies replace Eurobond issuances that are no longer serviceable due to sanctions.
Structural Regulation
Singapore to Launch New Work Pass to Draw Overseas Talent
30/08/2022
“We cannot leave any room for investors to doubt or have questions as to whether Singapore remains open,” said Manpower Minister Tan See Leng.
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