Enforcement

RBI Fines Citibank, Six Others for Non-Compliance

01/06/2020

Citibank did not comply with obligations to obtain declarations from customers about the credit facilities they have with other banks before granting them non-fund based facilities.

AML / KYC

PBOC Fines BNP Paribas China Unit, Three Execs for AML Violations

01/06/2020

The bank and three executives were fined for failing to perform customer identification obligations and report large and suspicious transactions.

Japan Banks Asked to Continue Lending as Stimulus Gets Green Light

31/05/2020

Finance Minister Taro Aso is asking banks to continue supporting SMEs and to actively make use of hybrid lending, in light of a new 117tr yen stimulus package.

Korea Launches W40tr Bailout Fund for Key Industries

31/05/2020

The airline, shipping and other hard-hit industries will be eligible for financial support from the fund if they have more than 500bn won in debt and over 300 employees.

Securities / Derivatives

CFFEX Invites Submissions on Futures Market Development

31/05/2020

The CFFEX is calling for research into the opening up of its financial futures market to foreign investors, drawing lessons from overseas exchanges.

Enforcement

ICAC Charges SME Director & Clerk for Defrauding HK Banks

31/05/2020

The two are said to have defrauded seven banks of loans and banking facilities worth about HK$160mn, and deceived the TID and HKMC into issuing loan guarantees.

Capital / Liquidity

CBIRC Eases Restrictions on Bank Bond Investment by Insurers

31/05/2020

The CBIRC is scrapping requirements that only allowed insurers to invest in bank bonds of large issuers based on their asset size, capital adequacy and credit rating.

Market Infrastructure

ISDA to Launch 2020 Definitions on Digital Platform by Year-End

31/05/2020

Over time, the platform will allow information contained in the ISDA 2020 Definitions to automatically flow through to trading, operational and risk management systems.

Chinese Regulators Probe New ‘Group Savings’ Products at Banks

30/05/2020

‘Group savings’ products allow customers to join together as participants to receive better interest rates on savings, wealth management and loans