Capital / Liquidity

India Seeks Parliamentary Approval to Infuse More Capital into Banks

21/12/2018

The government plans to pump $11.8 billion into public sector banks to raise them out of the RBI’s PCA framework and increase the banking system’s lending capacity.

Securities / Derivatives

Licensees Should Avoid Employee Allocations in Equity Raising – ASIC

21/12/2018

Following a review of allocations practices in equity raising transactions, ASIC said allocations to employees should be avoided as they can present conflicts of interest.

Capital / Liquidity

S. Korea to Adopt IRRBB Standards in Mid-2019

21/12/2018

The FSS plans to revise banking supervision bylaws during Q1 2019, with implementation of IRRBB at domestic banks expected in mid-2019.

Market Infrastructure

All SWIFT Banks to Adopt gpi Payments by End-2020

20/12/2018

Over half of SWIFT’s cross border traffic now goes through as gpi payments, with full adoption by its 10,000 member banks expected by end-2020.

Market Infrastructure

HKMA to Require Banks to Report on Culture Reform

20/12/2018

First phase of bank culture self-assessments will cover about 30 institutions, including all major retail banks and selected foreign bank branches.

AML / KYC

Taiwan FSC to Amend Rules on Beneficiary Disclosure

20/12/2018

Insufficient disclosures of corporate clients’ beneficiaries by financial institutions was cited as one of Taiwan’s shortcomings in the APG’s latest report.

Securities / Derivatives

Licensed Corporations Should Carefully Review Internal Controls – SFC

20/12/2018

The SFC has reviewed brokers’ internal control systems and found they are not adequately protecting client assets, supervising their staff or incentivising good compliance culture.

Capital / Liquidity

PBOC Unveils New ‘Targeted’ Liquidity Facility for Banks

20/12/2018

The new ‘targeted medium-term lending facility’ is available to banks that demonstrate support for the real economy by lending to small and private companies.

AML / KYC

MAS Extends Prohibition Against Goldman’s Leissner to Lifetime Ban

20/12/2018

The March 2017 prohibition order barring former banker Tim Leissner for 10 years was based on limited information; US DOJ charges provided evidence of his involvement in 1MDB fund flows.