Capital / Liquidity

BOE Sets Deadline for UK Firms to Embed Climate Risk

07/07/2020

By end-2021, financial firms will have to be able to demonstrate that their approaches to managing climate-related financial risk have been implemented and embedded in their organisations.

Capital / Liquidity

Taiwan FSC Proposes Rules Changes for Foreign Bank Branches

07/07/2020

The FSC proposes to allow loan loss provisions and reserves to be used in calculating net worth, accumulated losses and total deposits, which have a bearing on lending capacity.

Fintech / Regtech

BSP Set to Issue Digital Bank Licensing Framework

07/07/2020

Foreign individuals will be allowed to own up to 40% of a digital bank, while qualified foreign banks can own up to 100%.

Market Infrastructure

Singapore Regulator Raises Concerns Over LSEG-Refinitiv Deal

06/07/2020

Singapore’s competition regulator has concerns about whether Refinitiv’s widely used WM/Reuters FX benchmarks would be offered to rival providers at fair and reasonable terms.

AML / KYC

CBIRC Discloses List of ‘Illegal Shareholders’ of Banks, Insurers

06/07/2020

20 of the 38 companies on the list are linked to either Baoshang Bank or Anbang Insurance, which both needed a state bailout in recent years.

Market Infrastructure

16 Banks Announce Initiative to Digitalise Payments Across EU

06/07/2020

The unified payment solution for consumers and merchants across Europe will encompass a payment card, digital wallet, and online and P2P payments.

AML / KYC

S. Korea Approves Use of Biometrics for Digital Identification

06/07/2020

Korea’s Fair Trade Commission has revised bank transaction law to allow the use of biometrics for identification in bank teller transactions.

Capital / Liquidity

BCBS Releases 18th Progress Report on Basel III Adoption

06/07/2020

In Asia Pacific, Hong Kong, Korea and Indonesia have in particular made significant progress towards implementing the Basel III standards.

Securities / Derivatives

New Bill Could Ban Some Chinese Firms from US Capital Markets

06/07/2020

The bill would reportedly seek to ban Chinese companies that engage in spying or human rights abuse, or support China’s military or industrial policy.