S. Korea to Expand Microfinance Support Fund

27/05/2021

Legislative revisions will expand the pool of microfinance funds available by requiring banks and other FIs to make mandatory contributions.

ESG / Sustainability

BOE Explores Options for Greening Bond Purchase Programme

26/05/2021

The BOE is exploring tools to incentivise companies whose debt it holds to take decisive action to achieve net zero in meaningful and lasting ways.

Fintech / Regtech

Bank of Korea Seeks Technology Partner to Test CBDC

25/05/2021

The testing and simulation exercise will be conducted in two phases, the first involving the creation, issuance and redemption of a digital won.

Market Infrastructure

ASIC Proposes Updates to Modernise ePayments Code

25/05/2021

ASIC proposes to add flexibility to the code to allow it to tailor data requests based on priorities and issues of concern.

ESG / Sustainability

EBA Publishes Results of Pilot Exercise on Climate Risk

25/05/2021

The first gauge of the EU aggregated green asset ratio was estimated at 7.9%. Over half of banks’ overall exposures are to sectors that might be sensitive to transition risk.

Market Infrastructure

G7 Close to Deal on Global Minimum Corporate Tax Rate

24/05/2021

A US Treasury’s proposal to accept a global minimum corporate tax rate of 15% has reportedly been met with enthusiasm in Europe.

AML / KYC

Guangdong Restricts Collection of Data in Social Credit Ratings

24/05/2021

The new regulations bar the collection of information on consumers’ religion, blood type, diseases, medical history and biometrics.

Securities / Derivatives

Philippine Bourse Ordered to Show Progress on SME Listings

24/05/2021

The order from the DOF follows the introduction of new listing rules in March, which are aimed at encouraging greater SME participation in the stock market.

AML / KYC

US Treasury Paper Outlines Proposal for New Tax Reporting Regime

24/05/2021

The paper proposes that transfers involving crypto assets worth more than USD 10,000 be reported to the IRS under the new reporting regime.