Resolution & Recovery

RBI Grants In-principle Approval for PMC Bank Takeover

16/07/2021

The RBI has given Centrum Financial Services in-principle approval to set up a small finance bank to take over PMC Bank.

Trading & Investment

Sri Lanka to Launch New OTC Platform for Repo Trading

15/07/2021

Firms seeking to carry out repo transactions on debt securities are invited to apply for trading membership.

CBDCs

BOK Unveils Firms Seeking to Participate in CBDC Project

15/07/2021

Units of SK Group, Naver and Kakao are the three firms competing to work on a CBDC project which will commence next month.

Credit Risk

FSC Korea Grants Initial Nod for New Credit Rating Businesses

14/07/2021

The granting of new credit information business licences is expected to facilitate the introduction of new models for credit evaluation.

KYC & CDD

BNM Allows MSBs to Onboard Corporate Customers Remotely

12/07/2021

A new policy document sets out the minimum requirements MSBs must observe when onboarding corporate customers using non-face-to-face verification processes.

Credit Risk

Malaysia Provides Six Month Automatic Moratorium to Borrowers

11/07/2021

This is the second time Malaysia has introduced a comprehensive loan moratorium after its debut in March last year.

CBDCs

MAS, Banque de France Complete m-CBDC Experiment

11/07/2021

The experiment showed the potential to reduce the number of correspondent banking parties involved in the payment chain for cross-border transactions.

Reporting & Disclosures

Taiwan FSC Tightens Rules for ESG-themed Funds

08/07/2021

Asset managers are required to set one sustainability goal and explain how their investments help achieve that goal.

Data Privacy

China to Tighten Oversight of Overseas Listings

08/07/2021

Chinese authorities will step up supervision of companies that list overseas to improve regulation of cross-border data flows and security.