Accounts opened without new documentary requirements will have severe restrictions in place including a INR50,000 maximum balance and monitoring to prevent foreign transactions.
Toolkit offers options on standards and codes of behavior, measures related to wholesale market conduct, guidance on compensation, and tools for strengthening governance.
Central bank deputy governor says banks see non-payment as “on par” despite loan resolution framework; poor credit culture must change.
As the country looks to increase grass-roots access to finance, it will require greater engagement with the international financial community, requiring greater focus on preventing financial crime.
Proposed bill will limit cash payments by corporations and individuals to a maximum of IDR100 million, or USD7,200.
Banks must use majority of cash freed up from 1% RRR cut to repay central bank loans; the rest can be used for small business loans.
HSI, HSCEI and Mini HSI will be tradeable between 5:15pm and 1:00am, with a trading halt mechanism in place to avoid extreme price movements.
Draft law provides ASIC with wider range of tools to enforce better protections for client money held for OTC derivatives.
TFEX to accept government and BOT issued bonds and equities underlying stock futures initially, in a move expected to ease trading and lower costs for investors.
Election watchdog finds governor Kim Ki-sik in violation of laws for overseas trips sponsored by financial institutions and political donations.