Market Infrastructure

BOJ Begins Publishing Securities Financing Transaction Data

02/03/2020

The data is collected monthly from approximately 50 financial institutions with the largest SFT trading volume, including transactions with overseas counterparties and intra-group transactions.

PBOC Unofficially Sets Interest Rate Floor on Covid-19 Loans

02/03/2020

The move is aimed at maintaining market order and at preventing banks from offering excessively low interest rates to lure borrowers.

S. Korea Tightens Mortgage Lending in More Areas to Curb Speculation

02/03/2020

New areas on the outskirts of Seoul have been designated speculative areas where the loan-to-value ratio on mortgage loans is being lowered to curb housing market overheating.

AML / KYC

Australia: Pre-insolvency Adviser Gets 5 Years Jail for Money Laundering

02/03/2020

The adviser helped a former company director illegally remove company assets to prevent creditors from accessing them post-winding up.

Market Infrastructure

Thailand Raises Currency Repatriation Threshold Five-Fold to $1m

02/03/2020

The move is aimed at achieving more balanced capital flows and at easing the strength of the Thai baht, which hurt the domestic economy last year.

Enforcement

Australia: Changes to the Banking Code of Practice Go Live

02/03/2020

The changes include guaranteed features for basic bank accounts and the removal of overdraft and dishonour fees on basic, low fee or no fee accounts.

AML / KYC

Australia: Senate Committee Backs A$10,000 Cash Ban

01/03/2020

A Senate committee tasked with reviewing a bill to criminalise cash transactions over A$10,000 has reportedly thrown its support behind the proposed legislation.

Enforcement

Japan FSA Fines Nissan $22m Over Ghosn Misconduct

01/03/2020

The fine is the second-highest penalty ever imposed by the FSA, and a response to 8 years of under-reported remuneration by Nissan’s former chairman Carlos Ghosn.

Capital / Liquidity

Philippine Banks to Get Covid-19 Regulatory Relief

01/03/2020

The relief measures may include grace periods for rediscounting loans, staggered booking of credit losses, non-imposition of penalties for reserve deficiencies, and non-recognition of loan defaults.