Capital / Liquidity

Sri Lanka to Enact New Banking Act in 2021

10/01/2020

The new Banking Act will streamline the licensing process, branch approvals, and adopt a proportionality framework for banking regulations, among other changes.

Capital / Liquidity

12 Banks Fail to Meet Bangladesh Capital Requirement

10/01/2020

The total capital shortfall among the 12 banks was reported to be over $2bn as of the end of September, amid rising bad loans in the banking sector.

Securities / Derivatives

Philippine SEC Issues New Corporate Governance Code

10/01/2020

The new code comes into effect on 12 January, and gives public companies and registered issuers 6 months to submit a new manual on corporate governance.

Market Infrastructure

PBOC Sets Out Policy Priorities for Year Ahead

10/01/2020

The PBOC has announced key policies and tasks for 2020, following an annual work conference held last week in Beijing.

Market Infrastructure

CBIRC Proposes New Rules to Cleanse Financial Leasing Sector

10/01/2020

Of over 10,000 financial leasing companies in China at the end of June, more than 70% have either halted, are shell companies, or are mired in crisis.

AML / KYC

RBI Allows Regulated Entities to Use Video-based KYC

10/01/2020

Financial services firms can record video and capture photos of customers presenting their identity document for verification. Electronically-submitted and digitally-signed documents can also be accepted.

Market Infrastructure

Vietnam Central Bank Sets Out 2020 Policy Tasks

10/01/2020

The key policy tasks for the year include reducing banking sector NPLs to below 2% and promoting the use of non-cash payments.

Market Infrastructure

PBOC Reverses No Interest Policy for Payments Companies – Report

10/01/2020

The PBOC will pay just 0.35% annually on customer money that payments firms hold with the central bank, but the move marks a reversal of an earlier decision to pay no interest.

Securities / Derivatives

JP Morgan Applies for Control of China Futures Business

10/01/2020

The application to take a majority stake in Guangdong-based JPMorgan Futures follows the removal of the foreign ownership limit for futures companies on 1 January 2020.