Capital / Liquidity

US Regulators Identify Flaws in Resolution Plans of Two Major Banks

20/12/2022

Credit Suisse’s resolution plan had two deficiencies relating to its cash flow forecasting capabilities and governance for its US operations. BNP Paribas had one shortcoming.

Crypto / Digital Assets

Indonesian Lawmakers Pass Major Financial Sector Reforms

20/12/2022

The legislation changes the central bank’s mandate, shifts crypto sector oversight to OJK, makes a digital rupiah legal tender, and introduces a carbon trading framework.

Crypto / Digital Assets

CGS-CIMB Becomes First Brokerage to Establish Link to ADDX

20/12/2022

CGS-CIMB is providing accredited investor clients access to tokenised and fractionalised private market securities via ADDX.

Capital / Liquidity

MAS to Defer Implementation of Final Basel III Reforms

20/12/2022

MAS said it will defer the implementation of the final Basel III reforms in Singapore, to between 1 January 2024 and 1 January 2025.

Market Infrastructure

Shenzhen Exchange to Pilot Cross-Border Bonds to Serve GBA

20/12/2022

Issuers can be Chinese government entities or high-quality corporates. The SZSE is temporarily not charging any fees for cross-border bond listing services.

AML / KYC

IDAXA to Develop Global AML Standards for Crypto Industry

20/12/2022

IDAXA has launched a new working group, chaired by former policymaker Andrew Churchill, to propose globally harmonised AML/CFT standards for virtual asset service providers and regulators.

Market Infrastructure

SFC, CSRC Announce Move to Expand Scope of Stock Connect

19/12/2022

After the expansion, Stock Connect is expected to include stocks that account for more than 80 percent of equity trading in each market.

Capital / Liquidity

BNM Consults on Capital Requirements for CCP Exposures

19/12/2022

Proposed framework sets out requirements for managing risks arising from a financial institution’s exposures to CCPs in their capacity as a clearing member or a client of a clearing member.

ESG / Sustainability

Bangladesh Launches New Refinance Scheme for Green Industrialisation

19/12/2022

Banks can borrow at 1% and on-lend the funds at 5%, to help borrowers finance new capital machinery and other equipment required for green industrialisation.