Trading & Investment

China’s SAFE Warns Banks Against Aggressive Yuan Selling – Report

29/08/2022

SAFE reportedly phoned several banks last week to warn them against aggressively selling the yuan, which has recently hit a 2-year low against the dollar.

Structural Regulation

Australia to Simply Corporations and Financial Services Law

28/08/2022

Legislative amendments released for consultation are based on recommendations issued by the Australian Law Reform Commission late last year.

Sustainable Finance

ICE to Launch UK Carbon Allowance Options in October

28/08/2022

UK Carbon Options will provide a new tool for managing carbon emissions price risk, building upon the launch of UK carbon allowance futures in May 2021.

PEPs & Sanctions

US Lawmaker Seeks Clarity on Tornado Cash Sanctions

28/08/2022

US Congressman Tom Emmer says the designations against Tornado Cash wallet addresses are a “divergence from previous OFAC precedent”.

Capital Adequacy

NZ Government Takes Direct Ownership of Kiwibank

28/08/2022

The government pledged to support Kiwibank, New Zealand’s fifth-largest retail bank, to become a “genuine competitor in the banking industry”.

Reporting & Disclosures

Global Banks Worry of Extraterritoriality in EU’s CSRD – Report

28/08/2022

CSRD is “off-putting” for banks’ clients, as it would subject foreign companies to the full set of rules if they list even a single instrument in the EU.

Operational Risk

Better Governance Needed to Promote Bank Soundness: RBI

28/08/2022

A new study suggests public sector banks may need greater autonomy to improve their governance structures.

Anti-Money Laundering

BSP Calls for ‘Limited Amendment’ to Bank Secrecy Law

27/08/2022

BSP senior assistant governor Elmore Capule told a Senate Committee the BSP is looking for a “limited relaxation of the bank secrecy laws”.

Tokenisation

Shanghai Data Exchange Opens New Board for NFT-Like Assets

27/08/2022

Digital assets that can be traded on the new board are “non-monetary assets” owned in digital form for cultural and creative purposes.