Asia-Pacific

The BSP gained sweeping new powers last month, but it did not gain the oversight authority over conglomerates that own or control Philippine banks.

SWIFT, SGX, and software firm SLIB will collaborate with DBS, Deutsche Bank, HSBC and Standard Chartered to test the use of DLT in e-voting in Asia Pacific.

DTCC's Adrien Vanderlinden explores the biggest threats to financial stability 10 years after the financial crisis, and how Asia is responding to potential cyber-threats.

Benjamin Diokno will replace the late Nestor Espenilla as the new central bank chief. Observers had expected one of the three deputy governors to be named.

As a result of non-performing loans in the banking sector and excessive lending in violation of banking regulations, 15 banks in Bangladesh are facing provisioning shortfalls.

The "more credible" transactions-based approach will improve transparency and reduce risks of manipulation, and is in line with the IOSCO Principles for Financial Benchmarks, the BOT said.

The new charter bolsters the BSP's powers to exercise its core mandate of promoting a sound financial system and address risks arising from the financial system's interconnectedness.

The National Legislative Assembly has endorsed an amendment that will enable the scripless issuance and tokenisation of primary market securities, as early as this year.

Seen as a champion for banking reform and financial inclusion, BSP governor Nestor Espenilla passed away on Saturday after just 18 months on the job.

The Financial Action Task Force has marked the end of its fourth round of mutual evaluations with an announcement of its latest plenary session last week.