Uncategorised

ASIC Adopts Asia Funds Passporting in Regulatory Guides

02/08/2018

Changes have been made to seven of ASIC’s regulatory guides after the government passed a legislative amendment enabling the funds passporting scheme.

Market Infrastructure

Thailand to Offer Fee-Free ‘Basic’ Banking

01/08/2018

Thailand’s banks will offer basic accounts that exempt senior citizens and welfare recipients from entry fees, annual charges and minimum deposit requirements.

Capital / Liquidity

Vietnam ‘Bad Bank’ Drives NPL Ratios Below 3pc

01/08/2018

Setup five years ago, the Vietnam Asset Management Company is responsible for resolving 40% of NPLs, helping bring down NPL ratios at commercial banks to just 2.18 percent currently.

Securities / Derivatives

China Proposes Easing Rules on ‘Strategic’ Foreign Investment in A-Shares

01/08/2018

Ministry of Commerce consultation paper proposes to reduce lock-in period from three years to one and to reduce ownership and asset management thresholds.

Enforcement

ASIC Approves ABA Banking Code of Practice

01/08/2018

New banking code expands legal protections for small business borrowers and retail customers; signatory banks have until July 2019 to implement the Code, but some are expected to be compliant earlier.

Enforcement

China Jails Former CBRC Assistant Chairman on Bribery Charges

30/07/2018

Yang Jiacai, found guilty of accepting bribes worth ¥23mn and withholding information about ¥31.16bn in income and property, was sentenced to 16 years in prison and fined ¥2mn.

Capital / Liquidity

Bad Loans on the Rise at Small Chinese Lenders – Report

30/07/2018

Central government efforts to reduce excess capacity has put pressure on local economies and firms’ ability to repay debt; thirteen banks have had their credit ratings cut or outlooks downgraded, according to analysis by Reuters.

Capital / Liquidity

Hong Kong Bank Exposure Rules Compliance Pushed to Mid 2019

30/07/2018

HKMA has extended the implementation deadline for its bank exposure limit rules to 1 July 2019 given the tight implementation deadline and concerns raised by the industry.

Securities / Derivatives

RBI Expands List of Eligible Government Bonds Short Sellers

30/07/2018

RBI has allowed any entity with approval from a financial regulator to undertake short selling in government securities in addition to the current list of eligible short sellers.