Capital / Liquidity

RBI Eases Requirements for Rural Banks to Offer Internet Banking

08/11/2022

The net worth requirement and net NPA eligibility criteria have been relaxed, to promote the spread of digital banking for customers in rural areas.

Enforcement

Federal Court Finds NAB Knowingly Overcharged Customers

08/11/2022

NAB became aware of the issue in January 2017 and did not stop overcharging customers until February 2019, court documents say.

HK Banks Offer ‘PAPT’ Option for Mortgage Refinance Transactions

08/11/2022

The PAPT is being introduced to address risks that could arise for residential mortgage customers if a law firm handling a transaction is suspended.

Securities / Derivatives

NYSE, IDX Agree to Cooperate on Product Development

08/11/2022

The New York and Indonesian exchange agreed to collaborate on product development, market promotion, and knowledge sharing.

Crypto / Digital Assets

US Agents Seized Over $3.3bn in Silk Road’s Bitcoin Last Year: DOJ

08/11/2022

Over 50,000 Bitcoin, stolen from online marketplace Silk Road in 2012, was seized in November 2021 and has since lost more than two-thirds of its value.

Crypto / Digital Assets

Bank of Korea Completes Second Stage of CBDC Experiments

08/11/2022

BOK tested the use of its CBDC system to purchase NFTs, perform cross-border remittances, fulfill seizure orders, and automate AML/CFT monitoring and STR filings.

AML / KYC

IFSCA Issues AML/CFT Guidelines for GIFT City Regulated Entities

07/11/2022

The IFSCA said all senior managers are responsible for compliance with the new guidelines, which also apply to financial groups of regulated entities.

Crypto / Digital Assets

EU Parliament to Delay MiCA Vote Until Feb 2023 – Report

07/11/2022

The European Parliament was planning to hold its vote on the MiCA text in December. The European Council approved the text in early October.

Securities / Derivatives

CSRC Launches Upgraded Investor Complaints Service

07/11/2022

The CSRC said the enhancements will make it easier for investors to report issues they encounter and improve processing speed and efficiency.