Enforcement

Bank of East Asia Exec Detained in China for Taking Bribes

19/09/2022

The executive is accused of breaching credit rules and issuing loans in exchange for bribes. It is uncommon for executives of overseas banks to be detained in China.

Securities / Derivatives

Rosneft Becomes Third Russian Firm to Issue CNY Bonds

19/09/2022

The Rosneft deal marks the biggest bond sale ever by a Russian business. RUSAL  and gold producer Polyus also recently issued yuan-dominated bonds.

Securities / Derivatives

Taiwan to Hold Directors Responsible for Fund Manager Fraud

19/09/2022

The FSC will be able to dismiss board members of investment firms or revoke their business licences entirely if fund managers are involved in fraud.

Market Infrastructure

Bangladesh Allows Banks to Maintain Nostro Accounts in CNY

19/09/2022

The move will reduce Bangladesh’s reliance on the US dollar in foreign trade transactions and save costs for businesses.

Securities / Derivatives

CSRC Issues Draft Rules on Futures Exchange Regulation

19/09/2022

The draft rules adopt changes to align with China’s new Futures and Derivatives Law in relation to governance and risk management, among other areas.

HKMA Extends Corporate Loan Support Scheme

19/09/2022

The Pre-approved Principal Payment Holiday Scheme has been in effect since May 2020. The HKMA says some corporates are still facing cash-flow pressures.

Market Infrastructure

Chinese State Banks Coordinate Cut in Deposit Rates

18/09/2022

The coordinated move suggests the PBOC may have directed lenders to lower their deposit rates, which reduces bank funding costs and enables more lending.

Crypto / Digital Assets

ECB Selects Five Firms to Develop CBDC User Interfaces

18/09/2022

CaixaBank, Worldline, EPI, Nexi and Amazon will each focus on one specific use case of a digital euro in the prototyping exercise, the ECB said.

Crypto / Digital Assets

Thai SEC Proposes to Ban Crypto Lending, Staking Services

18/09/2022

A minimum investment amount is also proposed for each digital asset transaction.  Meanwhile, the SEC is considering allowing asset managers to set up digital asset funds.