Aussie Major Westpac Bank Tightens Interest-Only Credit Policies

18/08/2015

Westpac is tightening credit policies for interest-only mortgages, an area where financial regulators have raised concerns about bank underwriting standards.

India Unveils Revamp Plan for State Run Banks

18/08/2015

India’s government has announced a comprehensive seven-pronged revamp plan to shake up its struggling public sector banks, dubbed “the most comprehensive plan since nationalisation of banks in 1969”.

Big Aussie Banks Refuse to Contribute to Compensation Fund

17/08/2015

The big bank lobby is refusing to fund a “last resort” compensation fund for victims of financial planners that go bust, arguing that smaller companies should fund it themselves.

Securities / Derivatives

Indonesia to Announce D-SIBS After New Crisis Management Law is Passed

17/08/2015

Indonesia’s Financial Services Authority says it will announce the country’s domestic systematically important banks after the new law on the Financial System Safety Net is passed.

SFC Reveals Direct Pathway for HK Brokers to Deal with US Customers

17/08/2015

Hong Kong’s Securities and Futures Commission has issued a circular describing the application procedure for certain licensed corporations to deal directly with customers in the United States.

APRA Updates Guidelines on the Use of Restricted Banking Terms

17/08/2015

The Australian Prudential Regulation Authority has released updated guidelines in relation to the use of restricted terms in banking services.

China’s Central Bank Intervenes to Stabilise Yuan

14/08/2015

The People’s Bank of China ordered state banks to buy yuan, at designated rates on behalf of the monetary authorities, to stem the currency’s slide.

RBI Seeks Greater Oversight Over Co-Operative Banks

14/08/2015

The Reserve Bank of India has asked the government to amend laws which will allow the regulator to grant commercial bank licences to urban co-operative banks.

Securities / Derivatives

Indonesia Court Shoots Down Challenge to Banking Regulator’s Authority

14/08/2015

Indonesia’s constitutional court has rejected a judicial review filed by a group challenging the legal basis for the establishment of the Financial Services Authority (OJK), saying that the regulator did not violate the 1945 Constitution.