Market Infrastructure

Interim LIBOR Transition Milestones May Be Affected: FCA

26/03/2020

While end-2021 remains the firm target date for all firms to meet, interim transition milestones in some of the less prepared segments such as loan markets may be affected.

Securities / Derivatives

MAS, ACRA, SGX RegCo Set Out Expectations on Meeting Conduct

26/03/2020

MAS, SGX RegCo and ACRA expect all issuers to comply with the Ministry of Health’s mandatory safe distancing measures. Legislative amendments will be introduced.

ZA Bank Announces Launch as Hong Kong’s First Virtual Bank

25/03/2020

ZA Bank – backed by mainland insurer ZhongAn Online P&C Insurance and Sinolink Group – won one of the first approvals to set up a virtual bank in March last year.

Enforcement

ICAC Charges Ex-HKEX Official for Bribery, Misconduct

25/03/2020

A former joint-head of HKEX’s IPO Vetting Team has been charged over HK$9.15mn in bribes and misconduct in public office between June 2017 and April 2019.

Market Infrastructure

ASX to Delay Implementation of CHESS Replacement

25/03/2020

ASX will launch a public consultation in June on a new timetable for its CHESS replacement project, amid uncertainty created by the coronavirus pandemic.

Capital / Liquidity

BNM Offers Regulatory Relaxations to Support Lending Activities

25/03/2020

Besides an NSFR relaxation, banks can drawdown on the capital conservation buffer, operate below 100% LCR, and utilise regulatory reserves they have set aside.

Taiwan Central Bank to Help SMEs Avoid Credit Crunch

25/03/2020

Low-cost funding will be available to SMEs for 12 months via financial institutions starting from 1 April, with interest rates capped at a maximum 1.5%.

Capital / Liquidity

Sri Lanka Central Bank Directs FIs to Implement Debt Moratorium

25/03/2020

The debt moratorium will be implemented for personal loans, credit card debt, SME loans, among other sectors. Financial institutions are also directed to provide new working capital loans.

Capital / Liquidity

OJK Indonesia to Extend Payment Deadlines for MSME Loans

25/03/2020

OJK will extend loan payment deadlines for MSMEs by up to one year and prohibit the use of debt collection services, while Bank Indonesia asks banks to lower lending rates.