With the final approval, Toss Bank will officially launch as early as September, making it the third internet-only bank in the country.
Five asset managers have been appointed to manage S$1.8bn of Singapore's official foreign reserves under new mandates focused on climate change and the environment.
The proposed consultation builds on an earlier paper which outlined an approach that would subject direct crypto exposures to full deductions from CET1 capital.
The ARRC said the change, proposed for 26 July, will allow it to formally recommend forward-looking SOFR term rates published by CME Group.
An interim and simplified reporting standard will apply while ADIs develop their capabilities for delivering the full suite of credit risk data collected by ARS 220.0.
The SFC is on the lookout for funds with outsized and concentrated bets to prevent an Archegos-type event in Hong Kong.
China CITIC Limited and China Everbright Group have become the first to apply for approval to establish financial holding companies.
The guidance offers indicators to help financial services firms identify and report suspicious transactions related to cuckoo smurfing.
The global minimum tax will end the race-to-the-bottom in corporate taxation and ensure fairness for the middle class and working people, Janet Yellen said.
The revised EO is clearer, addresses many of the problem areas in the old EO, and is more enforceable, says Nick Turner at Steptoe & Johnson.