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Market Infrastructure
BSP Tests new RTGS System Ahead of June 2021 Go-Live
By Editors | 20/05/2021
The BSP is testing the new peso RTGS system with banks and other participating institutions to determine readiness for go-live in June 2021.
AML / KYC
US, UK, Canada Announce Fresh Sanctions Against Myanmar
By Sanday Chongo Kabange | 18/05/2021
The latest sanctions actions cite attacks and human rights violations against the people of Myanmar, including the killing of children.
Bank of Thailand Unveils Third Phase of Debt Relief
By Editors | 18/05/2021
The third phase of debt relief measures covers unsecured credit card and personal loans, auto hire-purchase loans, car title loans and mortgages.
Capital / Liquidity
Myanmar Banks Face Cash Crisis as CBM Withholds Reserves
By Sanday Chongo Kabange | 18/05/2021
CBM is not returning some of the reserves it holds for private banks leaving them with no cash to replenish own vaults with cash for their customers.
AML / KYC
Pakistan to Pass Two New Laws to Meet FATF Action Plan
By Sanday Chongo Kabange | 15/05/2021
The laws cover the handling of forfeited properties and assets, and the transfer of money laundering cases to specialised agencies.
Securities / Derivatives
SEC Thailand Issues Guidelines for Distressed Bond Funds
By Editors | 13/05/2021
Only institutional and ultra-HNW investors will be allowed to invest in distressed bond funds, which will be non-redeemable but have a maturity date prescribed.
AML / KYC
Philippine SEC Rates Securities Sector for Money Laundering
By Sanday Chongo Kabange | 12/05/2021
The SEC found that investment houses and underwriters presented ‘medium-high’ risk, compared to ‘medium’ risk for the securities sector overall.
Securities / Derivatives
Philippine SEC Joins ASEAN Framework for Cross-border Funds
By Editors | 12/05/2021
Regulators from Singapore, Malaysia and Thailand – already part of the initiative – have signed a supplemental MoU admitting the Philippine SEC into the CIS framework.
Securities / Derivatives
BSEC Allows Foreign Companies to Sponsor Mutual Funds
By Editors | 06/05/2021
Foreign companies will be allowed to become sponsors of mutual funds, subject to a maximum contribution of 25 percent of the find size.
Fintech / Regtech
BSP Expects New Digital Banks to Launch in H2 2021
By Ranamita Chakraborty | 05/05/2021
The BSP has received four applications for digital bank licences, including two from thrift banks that wish to convert their existing licences.
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