Payments & Settlements

Five ASEAN Central Banks to Link Payment Systems

21/07/2022

The central banks of Indonesia, Malaysia, the Philippines, Singapore and Thailand will formally sign an agreement on payment connectivity in November.

Cloud & Infrastructure

Philippines: Diokno Directs SEC to Further Digitalise Markets

21/07/2022

Finance Secretary Benjamin Diokno directed the SEC to use digital technologies to improve monitoring, build investor trust, protect the investing public, and better serve the economy.

Conduct, Culture & Accountability

NZ FMA Consults on New Licence Conditions Under CoFi

21/07/2022

Banks, insurers and non-bank deposit takers will need a ‘financial institution licence’ issued by the FMA starting in early 2025.

Capital Adequacy

China to Recapitalise Small Banks Through Local Government Debt

21/07/2022

Regulators are working to accelerate the issuance of special local government bonds to help boost the capital of small and medium-sized banks.

Supervision & Enforcement

SFC Fines RBC Investment Services for Mishandling Client Assets

21/07/2022

The SFC said RBC Investment Services failed to segregate client money and transferred securities from client accounts without valid standing authority.

Cryptocurrency

Korean Banks Seek Regulatory Easing to Enter Crypto Market

21/07/2022

Korean banks have reportedly asked the FSC to ease regulations and issue licenses allowing them to operate digital asset businesses.

Credit Risk

HKMA Extends Repayment Deferments for Trade Facilities

21/07/2022

Significant uncertainty lies ahead for import and export businesses, the HKMA said. The scheme will fully expire at the end of October.

Liquidity Risk

Myanmar Central Bank Orders Halt to Foreign Debt Payments

21/07/2022

An exemption from requirements to convert FX into the kyat has also been reversed for companies with foreign minority ownership.

Operational Risk

APRA Finalises New Standards on Super Fund Investment Governance

21/07/2022

The new standard will commence on 1 January 2023. APRA will consult on additional guidance later this year, also covering ESG risks.