AML / KYC

Singapore: Suspect Arrested in Covid-19 Money Laundering Case

06/04/2020

Quick intervention by seven banks allowed enabled the recovery of more than 60% of the amount scammed in the fraudulent sale of surgical masks and hand sanitisers.

Capital / Liquidity

Singapore Govt to Increase Risk Share on SME Loans

06/04/2020

The government will increase its risk share of loans made under existing loan financing schemes from 80% to 90%, for loans initiated from 8 Apr until 31 Mar 2021.

Fintech / Regtech

BOK Launches 22-Month Pilot Programme to Test CBDC Issuance

06/04/2020

Under the 22-month plan, the BOK will set up a CBDC pilot system and explore the technical and legal issues surrounding its introduction in Korea.

Capital / Liquidity

HKMA Sets Out Treatment of Loans Under 100% Guarantee Scheme

06/04/2020

IRB AIs should seek the HKMA’s exemption approval to apply the standardised approach for SME loans granted under the 100% Guarantee Scheme.

AML / KYC

Tiger Brokers NZ, Six Others Get Formal Warning for AML Failures

06/04/2020

A public warning was issued to NZX-accredited Tiger Brokers, and six additional private warnings unnamed businesses or individuals.

Market Infrastructure

RBI Reduces Market Hours to Curb Volatility

06/04/2020

During India’s lockdown, currency, bond and money markets will operate for only 4 hours. SEBI has also brought forward the cut-off times for the mutual fund industry.

Securities / Derivatives

Japan: Corporates to Get Financial Support, Easier Write Down Rules

06/04/2020

The FSA will convene a joint council of key industry bodies to agree on easier write-down rules, while the government prepares an aid package for large corporates.

Bangladesh Announces Measures to Aid Businesses Through Lockdown

06/04/2020

Under a $7.9bn stimulus plan, banks will distribute working capital loans with the interest cost to businesses partly subsidised by the government.

Vietnam Banks Offered Incentives to Aid Businesses

06/04/2020

About 11% of total outstanding loans in the banking system are estimated to not be paid as scheduled due to the coronavirus pandemic.