Chinese Banks Urged to Extend Financing Support to Foreign Funded Firms

23/12/2020

Major foreign-funded companies should get equal access to some financing programmes as their Chinese counterparts, said a circular from MOFCOM and the CBIRC.

Fintech / Regtech

Chinese Fintechs Remove Bank Deposit Products from Online Platforms

23/12/2020

Smaller regional lenders have circumvented the geographical limits of their licences by offering deposit products on online platforms operated by Ant Group and Tencent, among others.

BOJ Extends SME Lending Scheme, Pledges Continued Monetary Easing

23/12/2020

The central bank has extended its SME lending programme by six months and removed its upper limit of JPY 100 billion per institution.

Fintech / Regtech

FSC Korea Expands Open Banking Access, Grants ‘MyData’ Licences

22/12/2020

“With more types of financial institutions joining the open banking system, it will help promote competition and improve consumer convenience,” the FSC said.

AML / KYC

RBI Announces Extension of KYC Registry to Legal Entities

22/12/2020

The RBI said regulated entities should upload KYC data pertaining to accounts of legal entities to the Central KYC Registry from 1 April 2021.

Market Infrastructure

Malaysia: BNM Tasks Committee With Benchmark Reform Objectives

22/12/2020

The Financial Markets Committee will be tasked with overseeing the development of an alternative reference rate for Malaysia and deciding on whether to retain KLIBOR.

Capital / Liquidity

Korea FSS Considers Imposing Limits on Bank Dividends

22/12/2020

While banks performed better than expected this year, the FSS is concerned about new Covid-19 cases being detected in Korea and resulting economic uncertainty.

Securities / Derivatives

Hang Seng Index Operator Seeks ‘More Balanced Representation’

22/12/2020

Hang Seng Indexes Company proposes to increase the number of constituent stocks in the HSI, lower the weight cap, and remove the minimum listing history requirement.

Securities / Derivatives

CSRC Grants Deutsche Bank Fund Custody Licence in China

22/12/2020

Deutsche Bank has become the second foreign bank to be granted a domestic fund custody licence in China, just months after rules were finalised for granting such approvals.