Resolution & Recovery

India Progresses Key Deposit Insurance Reforms

09/08/2021

The reforms will enable customers to access their deposits within 90 days if a bank is unable to fulfill its obligations due to a moratorium.

Credit Risk

Korean President Nominates New Chiefs for FSC, FSS

09/08/2021

BOK board member Koh Seung-beom will lead the FSC, subject to a confirmation hearing. Former financial regulator Jeong Eun-bo will lead the FSS.

Liquidity Risk

RBI Extends Liquidity Facilities for Banks, NBFCs

09/08/2021

The impacts of the second wave of the Covid-19 pandemic have been visible in the real estate sector, the RBI said. It is also monitoring stressed assets in the banking sector.

Anti-Money Laundering

China, UAE Agree to Exchange Intelligence on AML Investigations

09/08/2021

The FIUs in China and the UAE will exchange information on investigations concerning money laundering, terrorist financing, and the persons or entities involved.

CBDCs

Bank of Korea CBDC Pilot to Kick off This Month

09/08/2021

Ground X, Kakaobank, Kakao Pay, Consensys, Samsung and Onther are among the firms that will participate in the pilot. Phase one will be complete by December.

Credit Risk

UPDATED – RBI Extends Deadline for Current Account Restrictions

09/08/2021

The extension is being provided to ensure customers are “not put to undue inconvenience during the implementation process”.

Structural Regulation

JP Morgan Approved to Take Full Ownership of China Securities Unit

08/08/2021

JP Morgan already had a controlling stake in the unit. The new approval makes it the first foreign firm to fully own a securities venture in China.

Anti-Bribery & Corruption

Hong Kong ICAC Charges Securities Brokers for Bribery

08/08/2021

Two securities brokers accepted commissions to arrange for their clients to use a futures trading programme provided by a software company.

Clearing & Post-Trade

LCH Set to Switch Discounting, PAI Rate from SOR to SORA

08/08/2021

LCH is switching its discount curves and PAI rate on SGD-denominated cleared swaps from SOR to SORA on 9 August.