Bangladesh Considers Introducing Market-based FX Rates

18/09/2022

Recent rate fixing is called “discriminatory” against exporters. A new legal framework is being set out to facilitate the confiscation of unreported offshore assets.

AML / KYC

Puerto Rico Authority Agrees on Liquidation of Euro Pacific Bank

17/09/2022

Euro Pacific Bank customers will recoup 100 percent of their deposits. Several hundred investigations are still underway globally over whether the bank was used for tax evasion.

Securities / Derivatives

BSP Amends Rules for Unit Investment Trust Funds

17/09/2022

Trust entities seeking to create certain types of unit investment trust funds for the first time will be required to secure BSP approval.

Australia: FPA Adopts Simplified Professional Conduct Code

17/09/2022

A key element underpinning the new FPA Code is that members’ actions should promote a culture that “supports and requires integrity in others”.

Capital / Liquidity

Vietnam: SBV Grants Banks Additional Credit Growth Quotas

17/09/2022

Vietcombank and Agribank were among those granted higher credit growth rate quotas, amid growing calls for the mechanism to be scrapped altogether.

Capital / Liquidity

APRA Proposes to Update Guidance on Contingent Liquidity

17/09/2022

APRA will reduce the level of self-securitised assets banks must hold as contingent liquidity, provided they can increase these levels quickly if stress conditions emerge.

Fintech / Regtech

StanChart’s Singapore Digital Bank Reaches Key Milestone

16/09/2022

Trust Bank has been offering new accountholders a chance to win one of three Tesla cars, where referrals increase the chances of winning.

ESG / Sustainability

Work Begins on Assurance Standards for Sustainability Reporting

16/09/2022

IOSCO welcomes work by the IAASB and IESBA to develop assurance and ethics standards for sustainability-related corporate reporting.

Market Infrastructure

SBI to Facilitate Rupee Mechanism for Exports to Russia

16/09/2022

Russia still has to identify its own corresponding banks to help facilitate trade with India, but this is expected to be announced in the next two weeks.