Market Infrastructure

Fintech / Regtech

Korea to Pilot Open Banking Platform From 30 Oct

By Editors | 16/10/2019

Banks and fintechs will pilot test the ability of customers to manage multiple bank accounts and withdraw and transfer money from within a single app.

Market Infrastructure

PBOC Privately Solicits Bank Feedback on Customer Data Protection

By Editors | 16/10/2019

Draft measures on personal financial data protection have reportedly been issued to some banks as part of the PBOC’s consultation process.

Fintech / Regtech

FSC Korea Receives Applications for Internet-only Bank Licences

By Editors | 16/10/2019

The FSC said it plans to make a decision on initial approvals in December, after three consortia submitted bids in the second round of applications for internet-only bank licences.

Big Picture

FSB Highlights Market Fragmentation Issues in Letter to G20

By Manesh Samtani | 15/10/2019

In a letter to the G20 finance ministers and central bank governors, the FSB says the development of post-crisis reforms is “nearly complete”, but implementation progress remains uneven.

Capital / Liquidity

ACCC to Probe Banks on Mortgage Pricing Decision-making

By Editors | 15/10/2019

The ACCC is commencing an inquiry to find out why banks are not fully passing on interest rate cuts to borrowers, and what prevents customers from switching to cheaper lenders.

Capital / Liquidity

US Fed Finalises Easier Capital, Liquidity Rules for Banks

By Editors | 14/10/2019

Banks that present less risk, including foreign banks, will have reduced requirements. An idea to subject US branches of foreign banks to new liquidity requirements has also been dropped.

Market Infrastructure

FSB, IMF Report Progress on G20 Data Gaps Initiative

By Editors | 14/10/2019

The report notes that China is one of the countries that has outstanding issues with removing barriers to full trade reporting and access to trade repository data.

Big Picture

China, Indonesia Lead Emerging Markets in Sustainable Banking

By Manesh Samtani | 14/10/2019

China and Indonesia have demonstrated pioneering policy actions and regulatory initiatives, resulting in changing practices at financial institutions, the Sustainable Banking Network says.

Market Infrastructure

BOJ Deputy Governor Calls for Collective Action on LIBOR Transition

By Manesh Samtani | 13/10/2019

LIBOR’s permanent discontinuation will be one of the “most significant events in global financial history”, BOJ deputy governor Masayoshi Amamiya said at ASIFMA’s Annual Conference.