AML / KYC

RBI Extends KYC Compliance Deadline for e-Wallet Firms

27/02/2019

Following months of intense lobbying by e-wallet providers, the RBI has extended the deadline for completion of KYC processes by six months.

AML / KYC

FATF Consults on Risk-Based Approach for Professional Services

27/02/2019

The FATF is consulting on draft guidance on the application of a risk-based approach to AML/CFT in the legal, accountancy, and trust and company service providers sectors.

Capital / Liquidity

RBI Tightens Norms to Stem Flow of Credit to NBFC Sector

27/02/2019

The central bank has changed its risk weighting norms for bank exposures to NBFCs, making it more costly to lend to those that are rated poorly.

China Banking, Securities Associations Cut Fees for Member Institutions

27/02/2019

China’s banking and securities associations have announced plans to cut fees for their members, as called for by the government, to help boost the flagging economy.

Capital / Liquidity

RBI Removes Three More Banks from PCA Framework

26/02/2019

Allahabad Bank and Corporation Bank have been released from PCA restrictions following the government’s capital infusion last week; Dhanlaxmi Bank was found not in breach of any PCA risk thresholds.

Capital / Liquidity

UOB, OCBC, DBS to Face Challenging Year Ahead – Moody’s

26/02/2019

Singapore’s three largest banks will face greater asset risks and stagnation of net interest margins in 2019, making it a difficult year ahead for profitability, according to Moody’s Investors Service.

Capital / Liquidity

Australian Financial Sector Needs Stronger Systemic Risk Oversight – IMF

26/02/2019

Among other findings, the report notes the need for additional investment in data and analytical tools to strengthen prudential supervision and systemic risk oversight.

Crypto / Digital Assets

Thailand to Allow Scripless Issuance, Tokenisation of Securities

26/02/2019

The National Legislative Assembly has endorsed an amendment that will enable the scripless issuance and tokenisation of primary market securities, as early as this year.

Philippine President to Select New BSP Chief

26/02/2019

Seen as a champion for banking reform and financial inclusion, BSP governor Nestor Espenilla passed away on Saturday after just 18 months on the job.