The central bank is expected to allow financial institutions greater flexibility in setting interest rates for loans and deposits in the year ahead.
Pre-approval will mean that most ordinary mergers and acquisitions, and start-ups originating from abroad will need to be reported only after the fact.
A new central bank policy document outlines recommendations for financial institutions developing and publishing Open Data APIs.
Stock brokers and depository participants will have to report information on systems based on artificial intelligence and machine learning.
A 100 basis point RRR cut will be implemented in two phases this month, releasing $218bn of liquidity into the banking system.
According to RBI data, the higher losses are in large part due to increasing cybercrime as well as the Punjab National Bank scandal in February 2018.
The Philippine banking system “remained robust and continued to exhibit strong capital position and sustained growth in core earnings”, says BSP deputy governor Chuchi Fonacier.
All functions and submission services available on the existing SFC Online Portal will be migrated to the new platform in phases.
The currency conversion system that delayed the launch of the Shanghai-London Stock Connect last month has now been completed.
Non-bank payment institutions will be required to report to the central bank any consumer transactions exceeding 50,000 yuan and cross-border transfers over 200,000 yuan.
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