Capital / Liquidity

BSP Raises Minimum Capital Requirement for Rural Banks

06/09/2022

The PHP 10 million minimum capital requirement was raised to PHP 50 million, which is less than was proposed in May.

AML / KYC

RBI Issues New Guidelines on Digital Lending

06/09/2022

The guidelines are applicable to existing customers availing fresh loans and new customers getting onboarded. Existing digital loans must be in compliance by 30 November.

ESG / Sustainability

Thai Banks Pledge to Accelerate Action on ESG, Climate

03/09/2022

Thai banks adopt “ESG Declaration”. Government sets new carbon neutrality and net zero timelines. Climate Change Bill to become law in 2023.

Fintech / Regtech

SFC Finds Deficiencies in Investment Services Offered Online

02/09/2022

The SFC is calling on licenced corporations to address regulatory deficiencies identified in some investment services offered online.

Crypto / Digital Assets

ASIC Warns Against Offering Risky Products to Retail

01/09/2022

ASIC warns brokers against offering securities lending arrangements, crypto assets and so-called ‘zero brokerage’ offerings to retail investors.

ESG / Sustainability

BSP Issues Sustainable Investment Guidelines for Banks

29/08/2022

Banks whose investments are exposed to material environmental and social risks should adopt appropriate tools and metrics to assess, measure, and monitor these risks.

Fintech / Regtech

FSC Korea Unveils Reforms to Promote Digital Financial Services

29/08/2022

The FSC will increase opportunities for FIs and fintechs to offer services via integrated apps, while ensuring consumer protections are in place.

Capital / Liquidity

RBNZ to Restrict Foreign Banks’ Branches from Retail Business

25/08/2022

The RBNZ also proposes to limit the maximum size of a branch of an overseas bank to NZD 15 billion (USD 9.3 billion) in total assets.

Crypto / Digital Assets

ASIC Outlines Strategic Priorities in New Corporate Plan

24/08/2022

ASIC will prioritise work to protect investors from the crypto risks, misconduct including greenwashing, and other harms.