Countries

Sri Lanka's central bank has cut interest rates again and is ramping up pressure for banks to reduce the rates they charge borrowers, particularly small businesses.

ASIC names BHF Solutions and its associate, Cigno, saying they both enter into high-cost continuing credit contracts with retail customers without a credit licence.

The PBOC has established a partnership with ride-hailing firm Didi Chuxing to test its digital currency in payments.

The new service allows pre-trade checking of China A shares for northbound Stock Connect trading at the fund manager or aggregate level.

Deputy Chair John Lonsdale expects many banks will require an uplift in capabilities, processes and oversight to meet APRA's expectations.

The CSRC warns that illegal lenders are offering margin loans via websites, mobile apps and social media, promising investors 10 times leverage and high profits.

Bank of China and ICBC are reportedly preparing for worst-case possibilities that they could be cut off from US dollars or lose access to US dollar settlements.

The available supervisory tools to accelerate transition at banks could include ad-hoc regulatory capital add-ons, administrative sanctions or other legal actions.

The first centrally cleared HONIA interest rate swap contract was between BOCHK and HSBC, marking a significant step to promote HONIA’s adoption in the financial industry.

Firms should "tell the story" of how their businesses are impacted by the Covid-19 pandemic, including support and assistance received from government, lenders, landlords and others.