Capital / Liquidity

Philippines Mulls Increase to Deposit Insurance Limit – Report

16/02/2024

The PDIC will consult the BSP on whether an increase in the deposit insurance limit would have to be introduced alongside measures to mitigate moral hazard risks.

Sanctions

OFAC Sanctions 7 Targets Over Illegal Exports to Iran

15/02/2024

Three individuals and four entities, including a subsidiary of Iran’s central banks, were sanctioned for illegally exporting US goods and tech to Iran.

Sanctions

Swiss Commodity Firms Under Probe for Russia Sanctions Breaches

15/02/2024

Two commodity trading firms were referred to prosecutors for allegedly using Middle East subsidiaries to circumvent Swiss sanctions against Russia.

Market Infrastructure

CPMI, IOSCO Propose “Effective” VM Practices for Cleared Markets

15/02/2024

The consultative report describes eight examples of effective practices for CCPs and their clearing members regarding variation margin processes and transparency.

ESG / Sustainability

Japan Becomes First Sovereign to Issue Climate Transition Bonds

15/02/2024

Japan sold JPY 800 billion of 10-year climate transition bonds and plans to sell a further tranche of 5-year bonds later this month.

Capital / Liquidity

S Korea: DGB Daegu Bank Applies to Convert Banking Licence

14/02/2024

If approved, Daegu Bank will be the first to take advantage of a recent regulatory amendment that expedites the process of converting a regional bank to a commercial bank.

Sanctions

France Announces Sanctions Against “Extremist” Israeli Settlers

14/02/2024

The move prohibits 28 individuals from entering France, which plans to also pursue sanctions against Israeli settlers at the European level.

AML / KYC

US DOJ Secures Guilty Plea in Russia Sanctions Evasion Case

14/02/2024

A Canadian-Russian national helped ship US-origin electronic components that were later found in Russian weapons in Ukraine.

AML / KYC

FinCEN to Extend AML/CFT Requirements to Investment Advisers

14/02/2024

Investment advisers would have to implement risk-based AML/CFT programmes and report suspicious activity to FinCEN.