Philippines Introduces Standard Forms for Business Loan Applications

13/11/2022

Lenders have 18 months to use the new standard form, which the BSP says will make credit more accessible to small businesses.

SZSE Opens Science and Technology Exchange Centre

13/11/2022

The Centre will serve as a platform to promote science and technology innovation and connect innovative firms to private equity and venture capital.

Capital / Liquidity

Korea: New Property Market Measures to Take Effect on 1 Dec

12/11/2022

The new “customised countermeasures” are aimed at enabling actual buyers rather than speculators to obtain property loans from banks.

AML / KYC

US Officials Asks Banks Maintain Services for Some Russian Firms

12/11/2022

The effort is said to be aimed at reducing the negative effects of Russia-targeting sanctions on the global economy.

APRA Calls for Continued Improvements in Bank Risk Culture

12/11/2022

APRA shares the results of a survey that sought views from employees at 18 ADIs on their risk management practices.

Crypto / Digital Assets

NY Fed, MAS to Test CBDC-based Cross-Border Payments

11/11/2022

“Project Cedar Phase II x Ubin+” will seek to enhance designs for atomic settlement of cross-border cross-currency transactions, leveraging wholesale CBDCs as a settlement asset.

Capital / Liquidity

ESMA Recognises TAIFEX as QCCP Under EMIR

11/11/2022

The recognition lowers capital requirements and makes managing counterparty risk easier for EU financial institutions participating in Taiwan’s market.

Enforcement

DFSA Fines Bank of Singapore for Inadequate AML Controls

11/11/2022

Bank of Singapore offered the DFSA an enforceable undertaking agreeing to remediate deficiencies and engage an external compliance expert for verification.

Enforcement

SFC, ICAC Arrest Eight Over Ramp-and-Dump Schemes

11/11/2022

Combating social media ramp-and-dump schemes remains one of the top enforcement priorities of the SFC, says executive director of enforcement, Christopher Wilson.