Capital / Liquidity

CBIRC Raises Leverage Limits for Microfinance Companies

20/09/2020

Microfinance companies can issue standardised debts such as bonds and ABS products up to 4 times net assets, compared to 0.5 to 3 times net capital previously.

AML / KYC

FinCEN Seeks Comments on Enhancing Bank AML Effectiveness

20/09/2020

One of the proposals is to incorporate an “effective and reasonably designed” AML programme component to empower FIs to allocate resources more effectively.

Korea Enhances Emergency Loan Programme for Small Businesses

19/09/2020

Banks are instructed to take measures to ensure that their IT systems are ready for processing changes in the second round emergency loan programme.

Securities / Derivatives

Barclays to Build Out FX Trading Infrastructure in Singapore

19/09/2020

Barclays will launch an FX trading and pricing engine in Singapore by mid-2021, adding to existing platforms in New York, London and Tokyo.

Securities / Derivatives

BlackRock Launches New ETF Tracking Hang Seng Tech Index

18/09/2020

BlackRock has become the fourth firm to roll out an ETF tracking the new Hang Seng Tech Index which tracks the 30 largest tech companies listed in Hong Kong.

Securities / Derivatives

SGX to List World’s Largest Chinese Pure Government Bond ETF

17/09/2020

CSOP Asset Management’s inaugural ETF on SGX will track the performance of fixed-rate government bonds issued in China as measured by a FTSE Russell index.

Capital / Liquidity

Taiwan FSC Fines Shin Kong Life for Endangering Solvency

17/09/2020

The FSC has also suspended the Shin Kong Life’s chairman, who was responsible for the investment decisions that threatened the insurer’s financial strength.

Capital / Liquidity

APRA Proposes Updates to Bank Liquidity Reporting Requirements

17/09/2020

APRA has identified areas where reporting instructions can be clarified to facilitate the provision of timely information on bank liquidity risk.

Enforcement

SFC Fines BEA for 13 Year Failure to Segregate Client Securities

17/09/2020

There was no evidence of client loss as a result of BEA’s regulatory breaches, and the bank has undergone remedial actions to enhance its internal systems and controls.