The People’s Bank of China ordered state banks to buy yuan, at designated rates on behalf of the monetary authorities, to stem the currency’s slide.
The Reserve Bank of India has asked the government to amend laws which will allow the regulator to grant commercial bank licences to urban co-operative banks.
Indonesia’s constitutional court has rejected a judicial review filed by a group challenging the legal basis for the establishment of the Financial Services Authority (OJK), saying that the regulator did not violate the 1945 Constitution.
Brokers have asked the Securities and Exchange Board of India to put in place a ‘risk layer’ framework to manage the interaction between participants and exchanges, in order to prevent stock manipulation by algorithmic traders.
South Korea's Financial Services Commission will set up a corporate restructuring entity in mid-October, in a bid to help ailing companies restructure and stay afloat as long as possible.
Taiwan’s Financial Supervisory Commission has granted approval for CTBC Bank to become the first Taiwanese bank set up a consumer financing joint venture in China.
The Global Financial Markets Association and the Institute for International Finance have released a new report from PwC on the state of global debt market liquidity, urging regulators to revisit parts of the post-financial crisis supervisory framework.
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.