The China Banking Regulatory Commission has granted new “bad bank” licences to the provincial governments of Ningxia and Guangxi, allowing them to buy up and restructure bad debt from the balance sheets of rural credit cooperatives and local banks.
The PBOC issued the Interim Measures for the Administration of Certificates of Deposit in June this year, an examination into the impact of the recent notice.
Fund houses in India are focusing on directly selling their mutual fund schemes to investors, thereby lowering fees by cutting out distributors.
The Hong Kong Monetary Authority has issued a circular to banks requiring them to enhance customer protection and mitigate reputational risk arising from possible malpractices of intermediaries or sales agents.
The China Securities Regulatory Commission will soon begin inspecting online equity financing platforms to address risks brought by illegal activities and help the platforms better serve the real economy.
The International Organization of Securities Commissions publishes its final report on mandatory post-trade transparency for the CDS market.
The Securities and Exchange Board of India has asked international wealth managers to register their offshore units with the regulator if they are soliciting business in India.
The State Bank of Pakistan has designed a regulatory framework for identifying and overseeing the nation’s Domestic Systemically Important Banks, as part of its commitment to ensure stability of financial system and further strengthen the supervisory and regulatory regime.
Japan’s Financial Services Agency is considering introducing regulations for trading bitcoins and other virtual currencies, possibly through a registration system for operators.
China’s National Development and Reform Commission says it will further develop the bond market using initiatives to boost debt funding for infrastructure projects which will also server to boost the economy.