Westpac is tightening credit policies for interest-only mortgages, an area where financial regulators have raised concerns about bank underwriting standards.
India’s government has announced a comprehensive seven-pronged revamp plan to shake up its struggling public sector banks, dubbed “the most comprehensive plan since nationalisation of banks in 1969”.
The big bank lobby is refusing to fund a "last resort" compensation fund for victims of financial planners that go bust, arguing that smaller companies should fund it themselves.
Indonesia’s Financial Services Authority says it will announce the country’s domestic systematically important banks after the new law on the Financial System Safety Net is passed.
Hong Kong’s Securities and Futures Commission has issued a circular describing the application procedure for certain licensed corporations to deal directly with customers in the United States.
The Australian Prudential Regulation Authority has released updated guidelines in relation to the use of restricted terms in banking services.
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.