Market Infrastructure

UPDATED – S. Korean to Change COFIX Calculation Starting in July

24/01/2019

Bank lending rates should fall by about 0.27% under the new COFIX. The change in calculation is credit negative for Korean banks, says Moody’s.

AML / KYC

China to Strengthen Compliance Management at Overseas Bank Branches

24/01/2019

CBIRC guidelines require Chinese banks to strengthen compliance management at overseas branches in relation to AML/CTF, tax evasion, sanctions, consumer protection and cybersecurity.

Fintech / Regtech

APRA Grants First New Bank Licence in Almost 20 Years

24/01/2019

Volt bank Limited has become the first ‘neobank’ to receive a full banking licence after having operated under APRA’s ‘restricted ADI’ licence since last May.

Capital / Liquidity

Philippine Central Bank Revises Computation of Banks’ Net Worth

23/01/2019

The Philippines has changed its rules for calculating bank capital to better reflect asset quality and align with computations used for capital adequacy.

S. Korean Regulators Require More Transparency on Bank Loans

23/01/2019

New rules requiring disclosures to customers of credit assessment procedures and loan rate calculations have been introduced by South Korean regulators.

Fintech / Regtech

Australia Consults on Strategic Vision for Payments Sector

23/01/2019

The Australian Payments Council is inviting comments to review it 2015 Australian Payments Plan aimed at supporting digital payments.

Securities / Derivatives

S. Korea Broadens Professional Investor Pool to Boost Capital Markets

23/01/2019

In addition to easing the requirements for registering as a professional investor, the FSC will introduce a new class of brokerage firm that will specialise in channelling funds to SMEs.

Market Infrastructure

China, Germany Enhance Capital Markets, Banking Cooperation

23/01/2019

The two countries will promote depository receipts, build an offshore market for A-share index derivatives in Frankfurt, and improve access for banks and insurers in either market.

Securities / Derivatives

Bank of Korea to Entrust Foreign Reserves to Local Asset Managers

22/01/2019

South Korea’s central bank said it plans to entrust local asset managers with up to $300mn of its investments in developed markets.