Malaysian prosecutors have filed criminal charges against three Goldman subsidiaries and two former employees, seeking fines in the billions of dollars and jail terms of up to 10 years.
Using software from Equifax, the new credit bureau will enable lenders to use credit histories to calculate bad debt risk and potentially lower the need for collateral.
The CCyB will initially be set at 0% but is subject to upward adjustment – up to a maximum of 2.5% – when warranted by systemic conditions.
“The introduction of innovative ETF products is a welcome development for our ETF market, and should lead to a more vibrant ETF ecosystem," said Bursa Malaysia chief Tajuddin.
Banks will face challenging conditions in 2019 due to moderating economic growth, slowing credit expansion and US-China trade tensions, but have adequate buffers against growing risks.
ICO issuers and digital asset exchanges will be regulated by the Securities Commission and subject to AML/CTF guidelines, as well as BNM laws and regulations relating to payments.
Asset quality in the banking system is deteriorating due to governance weaknesses, with banks dipping into their core capital due to non-payment of loans.
By moving to a blockchain platform, Calastone seeks to address the high cost of funds distribution and operational risk resulting from manual processes, older systems and legacy technology.
The bourse said the move to a shorter settlement cycle will improve operational efficiency, reduce counterparty risk and improve the competitiveness of Malaysia's capital market.
The BSP will require financial institutions to collect customers' unique 'PhilSys' ID numbers, and allow the use of technology to capture and record personal data.