Banks allowed to provide broader range of services including online sale of consumer goods; MAS cites 'increasing competition from non-bank players'.
In addition to the enhanced sandbox, HKMA will also work on a new payment system, minimising regulatory friction in onboarding and other services.
Market participants can't meet diverse regulatory requirements without using DLT to share back office and post-trade functions, report suggests.
Sandbox board includes ASEAN Bankers Association, Monetary Authority of Singapore and is being advised by Intel, Microsoft Asia Pacific and IBM Philippines.
Investigations of about 250 firms including subsidiaries of US and EU players also find weaknesses in avoiding conflicts of interest and liquidity management.
BIS report on Basel III finds US and China make up more than half the profits of the world’s Group 1 banks; TLAC shortfall of 12 G-SIBs tumbles to $360mn.
Researcher at Institute of Finance and Banking says ban is only temporary; previous reports have suggested regulators are working on ICO framework.
Japanese central bank and European counterpart conclude from 'Project Stella' tests of DLT in RTGS that the technology is not yet mature enough.
Regulator’s chairman says each algorithmic system must have designated individual responsible for design and outcomes, echoing new bank accountability regime.
Ben Pott, head of government affairs at NEX Group, suggests Brexit and the time taken to resolve US-EU CCP issue, make equivalency rulings unlikely.