Capital / Liquidity

China to Support Banks that Swap Corporate Debt for Equity

01/08/2019

The new measures encourage banks to set up subsidiaries to invest in debt-for-equity swaps, helping them to offload distressed debt and ease rising NPL pressures.

Capital / Liquidity

Malaysia to Implement NSFR from July 2020

01/08/2019

From 1 July 2020, banks will be required to maintain a minimum NSFR of 100% at all times and to submit NSFR reports to BNM on a quarterly basis.

Australia Introducing Bill to End Conflicted Remuneration

31/07/2019

Draft bill to end unfair terms in insurance contracts released on Tuesday; bill to end grandfathering of conflicted remuneration to being introduced Thursday.

Market Infrastructure

CSRC Issues New Rules for China Offices of Foreign Exchanges

31/07/2019

Representative offices of foreign exchanges have 12 months to register with the CSRC, and are prohibited from engaging in any profit-making activities in China.

Enforcement

Five Major Banks Face UK Class Action in FX Rigging Case

31/07/2019

The class action, estimated to be worth more than $1.2bn for trades executed in the UK, follows a similar-size fine levied against the banks by the European Commission in May.

Capital / Liquidity

US Regulators Approve 82 Foreign Banks’ Resolution Plans

31/07/2019

The Fed and FDIC have accepted the resolution plans of 82 foreign banks, and granted an extra year extension before the next resolution plans need to be submitted.

Securities / Derivatives

JPX, TOCOM Finalise Merger Agreement to Create Integrated Bourse

31/07/2019

TOCOM precious metals, agricultural and rubber products will be transferred to Osaka Exchange, a JPX subsidiary, creating an all-in-one bourse by July 2020.

Fintech / Regtech

Taiwan Issues First Three Digital Bank Licences

31/07/2019

The three digital only bank licences went to conglomerates led by Japan’s LINE Group; Taiwan’s Chunghwa Telecom; and Japanese e-commerce firm Rakuten Inc.

Securities / Derivatives

CSRC Issues Comprehensive Rules for Brokerage Firms

31/07/2019

The role of brokerage firms in the securities market has not been fully utilised, and the professional services provided to investors are ‘seriously inadequate’, the CSRC says.