Enforcement

US Prosecutors Accuse Visa of Monopolising Debit Card Market

25/09/2024

The DOJ says Visa illegally maintains monopoly power by imposing a web of exclusionary agreements on merchants and banks.

Securities / Derivatives

CSRC Enhances Securities Industry Risk Control Indicator System

25/09/2024

The standards used by securities firms to calculate risk control indicators have been optimised and improved.

Capital / Liquidity

PBOC Governor Unveils Plans to Cut Rates, Lower RRR

24/09/2024

PBOC will reduce bank reserve requirements while also lowering interest rates to provide relief to household borrowers.

Sanctions

New Zealand Sanctions New Russian and Belarusian Targets

24/09/2024

The sanctions target the Russian SOE operating Ukraine’s Zaporizhzhya nuclear plant and its director general, among others.

Crypto / Digital Assets

Korea to Start Testing CBDC Backed Deposit Tokens

24/09/2024

BOK will issue wholesale CBDC, which banks will convert to deposit tokens for use by 100,000 consumers for retail purchases.

Capital / Liquidity

BSP Announces Significant Cut to Bank Reserve Requirements

24/09/2024

The BSP cut the RRR for universal and commercial banks by 250 basis points, bringing it from 9.5 percent to 7 percent.

Enforcement

Korea Dismantles Mobile Smishing Crime Organisation in Vietnam

24/09/2024

Seven key members of the organisation, including the ringleader, were apprehended. Three have since been repatriated to South Korea.

Market Infrastructure

Korea Proposes Tighter Rules for Credit Information Agencies

24/09/2024

The proposed amendments aim to address two primary issues: false evaluations and the coercion of credit information companies.

Sanctions

US Arrests Russian Man for Illicit Microelectronics Exports

23/09/2024

Several Hong Kong companies were used to purchase microelectronics from US distributors and export them to Russia.