Capital / Liquidity

PBOC Governor Unveils Plans to Cut Rates, Lower RRR

24/09/2024

PBOC will reduce bank reserve requirements while also lowering interest rates to provide relief to household borrowers.

Sanctions

New Zealand Sanctions New Russian and Belarusian Targets

24/09/2024

The sanctions target the Russian SOE operating Ukraine’s Zaporizhzhya nuclear plant and its director general, among others.

Crypto / Digital Assets

Korea to Start Testing CBDC Backed Deposit Tokens

24/09/2024

BOK will issue wholesale CBDC, which banks will convert to deposit tokens for use by 100,000 consumers for retail purchases.

Capital / Liquidity

BSP Announces Significant Cut to Bank Reserve Requirements

24/09/2024

The BSP cut the RRR for universal and commercial banks by 250 basis points, bringing it from 9.5 percent to 7 percent.

Enforcement

Korea Dismantles Mobile Smishing Crime Organisation in Vietnam

24/09/2024

Seven key members of the organisation, including the ringleader, were apprehended. Three have since been repatriated to South Korea.

Market Infrastructure

Korea Proposes Tighter Rules for Credit Information Agencies

24/09/2024

The proposed amendments aim to address two primary issues: false evaluations and the coercion of credit information companies.

Sanctions

US Arrests Russian Man for Illicit Microelectronics Exports

23/09/2024

Several Hong Kong companies were used to purchase microelectronics from US distributors and export them to Russia.

Sanctions

Lebanese Man Pleads Guilty to Sanctions Evasion Conspiracy

23/09/2024

The man, designated as a specially designated global terrorist in May 2018, pleaded guilty to a conspiracy charge and agreed to forfeit $830,000.

Enforcement

JSDA Fines MUFG Units for Sharing Client Information

23/09/2024

Mitsubishi UFJ Bank and two affiliated securities firms were fined for sharing non-public information without permission.