SOE defaults could pave the way for increased transparency, faster resolutions and more predictable outcomes for investors in the long run.
Banks should maintain prudent credit underwriting standards and continue to actively manage foreign currency risks, MAS says in its financial stability review.
MAS would be able to take tougher actions against breaches that do not meet the threshold of a criminal prosecution but call for stronger penalties.
The onus often falls on FIs to uncover any links between sanctioned entities and potentially related securities, which can involve a significant data challenge.
MAS has prescribed a list of permissible non-financial businesses to ensure banks are not engaging in “high-risk non-financial business that do not bring strategic value to its core banking business”.
ICE Benchmark Administration intends to continue publishing some tenors of USD LIBOR until end-June 2023, which could allow time for most legacy contracts to mature.
Consumers will be able to top-up their e-wallets directly through their bank accounts, rather than using a debit or credit card. Fund transfers between e-wallets will also be made possible.
One option HKEX proposes is to raise the profit requirement for companies seeking to list in Hong Kong threefold, reflecting the growth of the Hang Seng Index since 1994.
Pre-revenue biotech companies listed on Hong Kong’s Main Board will be included from 27 December. SSE STAR Market stocks will be included in early 2021.
Indonesia will need to pay particular attention to the governance of the new fund, as Malaysia's 1MDB scandal still looms large in the minds of global investors.