Asia-Pacific

The central banks have agreed on a partnership to encourage fintech innovation and strengthen banking supervision.

Central bank says many online lending firms are not licensed, making the loans illegal.

Most Asian jurisdictions are behind on implementing counterparty credit risk measures, capital for CCP exposures as well as TLAC, IRRBB and LEX requirements.

Philippine central bank launch of InstaPay will enable real-time electronic fund transfers up to PHP50,000 per day through 20 participating institutions.

BOT requires all e-money, card and fund transfer service providers to register or seek approval from the central bank by 14 August.

As the country looks to increase grass-roots access to finance, it will require greater engagement with the international financial community, requiring greater focus on preventing financial crime.

New guidelines and amendments to stress the importance of mediation and arbitration to take pressure off the courts saddled with NPL recovery cases.

Proposed bill will limit cash payments by corporations and individuals to a maximum of IDR100 million, or USD7,200.

Asia Pacific firms take over 16 months to detect breaches, compared to over three months globally; over 35 months if breaches detected by external parties.

TFEX to accept government and BOT issued bonds and equities underlying stock futures initially, in a move expected to ease trading and lower costs for investors.