Given the challenges new entrants face even under normal economic conditions, APRA does not consider it prudent to license new entities for at least the next six months.
Submissions to a January 2019 consultation indicate strong support for the implementation of an uncertificated securities market in Hong Kong.
Among the new measures announced are six-month loan payment holidays and new low-cost loans for SMEs, and the establishment of a corporate bond stabilisation fund.
BNM will continue to consult on an economy-wide cash transaction limit, which it will be able to implement under the Currency Act 2020.
The central bank has also suspended overseas investment and outward remittances by Sri Lankan residents, and cut interest rates for the second time in three weeks.
ASIC, APRA and the RBA warn that a failure to transition to alternative reference rates could lead to significant reputational, operational and legal risk and disrupt financial markets.
The initiative has reportedly been sped up in response to recent frauds at Yes Bank and Punjab National Bank.
AIs and SVF licensees are encouraged to continue the provide the public convenient account opening and access to banking and payment services.
Standard Chartered made a series of loans to a Turkish private bank, which at the time was almost wholly owned by Sberbank, a sanctioned Russian bank.
Changes to two pieces of legislation will ensure better investor protection, and bring custodians, ICOs, STOs and crypto derivatives under the FSA's remit.