The American Bankers Association says a CBDC would risk moving 71% of bank deposits to the Fed and undermine the financial system.
Borrowers that have difficulty repaying their loans can apply for a three to six month deferment. The deadline for applications is 30 June 2023.
The civil and criminal penalties and forfeitures will resolve a decade-long scheme to bribe foreign officials in seven countries and an oil price manipulation conspiracy.
Banks are directed to expand lending to SMEs amid concerns that China could struggle to record positive growth in the current quarter.
The RBI's directions are expected to curb frauds like card skimming and cloning. The UPI will be used for customer authorisation.
Financial services firms are required to protect consumers and the public during the entire lifecycle of a financial product or service.
A company called Quwiex Limited disappeared with investor funds after saying its website was deactivated for an upgrade.
The RTGS system shall be operated, managed and maintained by the BSP given its recent designation as a systemically important payment system.
The full text of the agreement will not be ready by mid-year as originally planned. Implementation is now expected in 2024 rather than 2023.
The SEC's YJ Fischer confirmed that progress has been made in talks with Chinese regulators, but warned that time was "quickly running out".
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