Capital / Liquidity

Bangladesh Cuts Cash Reserve Ratio for OBUs, NBFIs

25/06/2020

The amount of cash reserves offshore banking units and NBFIs need to maintain at the central bank has been reduced.

Market Infrastructure

Low-income Nations Make Progress on Sustainable Finance: SBN

25/06/2020

A study from the Sustainable Banking Network finds that sustainable finance has emerged as a pathway for low-income countries to de-risk investments and enable financial flows.

Fintech / Regtech

FMSB Issues Statement of Good Practice on Algo Trading

25/06/2020

The FICC Markets Standards Board sets out 10 Good Practice Statements for market participants and venue operators engaged in algorithmic trading in a new transparency draft.

Securities / Derivatives

HKMA, SFC Publish Final List of FSPs Under Clearing Obligation

25/06/2020

The HKMA and SFC will remove one entity that no longer conducts OTC derivatives business as its institutional services are now being provided by BofA Securities Inc, a new FSP.

Securities / Derivatives

APRA Seeks Additional Data from Superannuation Licensees

25/06/2020

Superannuation licensees will have to report monthly and quarterly data covering areas such as complaints, insurance claims, operational resilience, FX exposure, and liquidity.

Enforcement

S. Korea to Crack Down on Predatory Lending

25/06/2020

South Korea is introducing a cross-agency task force to monitor for illegal loan sharking activities and an alert system to detect predatory loan advertisements.

Capital / Liquidity

Chinese Authorities Intervene to Prevent Bank Runs – Report

25/06/2020

Local authorities in Hebei and Shanxi reportedly had to intervene last week to halt cash withdrawals at two small lenders amid rumours of mounting bad loans.

AML / KYC

NZ Police Seize $90m Allegedly Laundered with Bitcoin

25/06/2020

The seized bank funds, said to be connected to suspected Russian money launderer Alexander Vinnik, represent the largest ever asset restraint in New Zealand police history.

Enforcement

ASIC Issues ‘Best Interests’ Guidance for Mortgage Brokers

24/06/2020

Starting from 1 January 2021, ASIC will be closely monitoring conduct and outcomes to ensure mortgage brokers are effectively complying with the best interests duty.