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.

Fintech / Regtech

ASIFMA Asks for Changes to SEBI Cloud Adoption Framework

19/12/2022

ASIFMA says the data localisation requirements in SEBI’s new cloud adoption framework will expose FIs to greater cybersecurity risks while negatively impacting global operations.

Market Infrastructure

EU Council Agrees to Implement Global Minimum Tax

19/12/2022

The 15% corporate minimum tax rate is expected to be transposed into EU wide rules by end-2023 and prompt other countries to speed up efforts to implement the measure.

ESG / Sustainability

Malaysia Publishes ‘Climate Data Catalogue’, Identifies Data Gaps

19/12/2022

Malaysia’s JC3 says the data catalogue “represents a call to action” for stakeholders to collectively improve the availability and accessibility of climate data.

Korea to Lower Maximum Corporate Tax Rate Under Reform Plan

19/12/2022

Korea plans to lower its maximum corporate tax rate from 25% to 22% to promote investment and enhance the country’s competitiveness.

Securities / Derivatives

Singapore to Amend Law to Allow for Online General Meetings

19/12/2022

Orders introduced early in the pandemic to allow companies to conduct general meetings by electronic means will expire on 1 July 2023.

Sanctions

US, EU Announce Additional Sanctions Against Russia

19/12/2022

The US imposed new sanctions against Russian FIs and the country’s richest businessmen. The European Council adopted a ninth sanctions package against Russia.

AML / KYC

AUSTRAC Issues Guidance on Detecting OSEC Crime

19/12/2022

AUSTRAC has updated its 2019 indicators report to help FIs identify behaviours and transactions which may indicate payments for child sexual exploitation material.