In a bid to improve remittance services in the country and promote fintech, Japan plans to ease limits on non-banks providing money transfer services.
The central bank bills swap will allow banks to temporarily exchange perpetual bonds for central bank bills for one year, at a rate of 0.25 percent.
The central bank proposes to halve reserve requirements for banks that assist it in restructuring ailing credit institutions.
As part of a plan to develop the Greater Bay Area, the HKMA and PBOC are reportedly planning to work together on the introduction of cross-border mobile payments and other financial services.
Japan funds to have access to CLS Settlement through Nomura Asset Management in a move to enable PvP settlement and adopt best practices promoted by the FX Global Code.
Since last June, a crackdown on peer-to-peer lenders by China’s Ministry of Public Security, codenamed 'Fox Hunt', has yielded $1.5bn in seized assets and 62 arrests.
Bangladesh’s decision to approve three new banks has drawn criticism, given the rising nonperforming loans and declining governance standards in the banking sector.
ASIC is considering over 40 enforcement cases, a number of which involve misconduct by large financial institutions, their employees or subsidiary companies.
India’s central bank will pay a $3.9bn interim dividend to the government amid pressures to transfer its surplus reserves.
Currently, odd-lot trades are only permitted in after-hours trading. The introduction of intraday odd-lot trading will boost daily turnover and give retail investors more choice, the FSC says.