Capital / Liquidity

Sri Lanka Cuts Bank Reserve Requirements

26/02/2019

To boost credit growth, the Central Bank of Sri Lanka has cut the statutory reserve ratio for commercial banks from 6 to 5 percent, starting in March.

Enforcement

Westpac Faces Class Action for Irresponsible Lending

26/02/2019

Westpac has vowed to fight the claim, saying it takes its responsible lending obligations very seriously. But it could face a multi-million-dollar settlement if other borrowers join the class action.

Fintech / Regtech

UPDATED – S. Korea to Boost Fintech Development with Open Banking

26/02/2019

The FSC plans to make banking APIs more open, accessible and cost-efficient so all nonbank fintech players can access Korea’s payment network.

AML / KYC

AUSTRAC Trials Reporting Automation through Smart Contracts

26/02/2019

The proof of concept project commenced in December 2018 and aims to help reporting entities automate the reporting of international funds transfers to AUSTRAC.

Fintech / Regtech

BSP Streamlines Licensing Process e-Financial Services Firms

25/02/2019

The move is in line with BSP’s reform agenda to promote digital innovation and increase availability of safer and more efficient channels for financial services.

Market Infrastructure

Malaysia to Introduce Technology Risk Policy in June – Report

25/02/2019

BNM plans to introduce its policy on technology risk management in June, providing guidelines for financial institutions to combat the rising incidence of cybercrime.

Securities / Derivatives

Hong Kong Passes Profits Tax Exemption Bill for Funds

25/02/2019

The Bill seeks to enhance the competitiveness of Hong Kong’s tax regimes by creating a level playing field for all funds operating in the city.

Securities / Derivatives

Nine Taiwan Brokers Approved to Issue ETNs – Report

22/02/2019

The Taiwan Stock Exchange and GreTai Securities Market have so far approved a total of 9 securities firms to issue exchange traded notes in Q2 this year.

HKMA Chief of Ten Years Set to Retire in September

22/02/2019

Norman Chan will leave behind a healthy banking industry with strong capital ratios and low bad debt levels. A selection panel will identify the HKMA’s next chief.