Enforcement

FSC Penalises Citibank Taiwan Over Reporting Errors

05/02/2021

The bank has been reporting credit data to the JCIC incorrectly since December 2010, potentially impacting the credit scores of certain customers.

Enforcement

London Trader Jailed for LIBOR Manipulation Released

05/02/2021

Tom Hayes told Bloomberg this week that efforts to replace LIBOR were pointless and that the rate was far safer now.

Singapore Launches Simplified Insolvency, Restructuring Programme

05/02/2021

Eligible micro and small companies severely impacted by Covid-19 can apply for help with debt restructuring, business rehabilitation or orderly winding up.

ESG / Sustainability

CBIRC Issues Draft Guidelines on Corporate Governance

05/02/2021

The guidelines formalise obligations for banks and insurers to integrate Communist Party leadership in the governance of state-owned and private banks and insurers.

Fintech / Regtech

Korea to Launch Virtual Sandbox, Expand Fintech Support

04/02/2021

The FSC has outlined the work it has planned this year to promote financial innovation and digital finance.

Fintech / Regtech

LINE Bank Taiwan Granted Digital Bank Operating Licence

04/02/2021

LINE Bank could launch trial operations as soon as mid-March, with a view to launching full operations within the first half of the year.

Capital / Liquidity

HK Bank Profitability Suffers, Loan Quality Deteriorates

04/02/2021

HKMA deputy chief executive Arthur Yuen says banks will continue to face challenges this year as Hong Kong suffers its worst recession on record.

Enforcement

Korea FSS to Punish Top Woori, Shinhan Executives – Report

04/02/2021

Woori Financial Group’s chairman may be suspended from his duties, while the Shinhan Bank’s chief executive may receive a reprimand warning.

CBIRC Probes Banks for Illegal Flows of Loan Funds into Real Estate

04/02/2021

The CBIRC’s Beijing and Shanghai bureaus have asked banks to review loans granted since mid-2020 to identify illegal inflows of credit funds into the real estate sector.