Singapore

The MOU and last year's equivalence decision from the European Commission ensure that FIs in the EU can continue using SIBOR and the SOR as reference rates in their contracts.

MAS is raising the leverage limit for S-REITs and deferring implementation of the minimum interest coverage ratio requirement, on top of recently-announced enhanced share issue limits.

The new industry body will be co-chaired by SFA president Chia Hock Lai and OneConnect Financial Technology's APAC chief Ms Tan Bin Ru.

The Association of Banks in Singapore, support by MAS, is offering incentives to encourage uptake and usage of peer-to-peer funds transfer service PayNow.

AMTD International’s listing ceremony was SGX's first to be conducted digitally with a live global broadcast. It was also the first SGX listing of a NYSE company.

Successful digital bank applicants will be informed in the second half of this year, instead of June 2020 as originally intended.

The package includes training allowances, IBF course subsidies, salary support, digital acceleration grants, and free access to API Exchange.

The measures will help SGX issuers to focus on meeting current business and economic challenges and accelerate fund-raising efforts to address liquidity issues.

MAS has adjusted banks’ capital and liquidity requirements to help sustain their lending activities, while also deferring a host of regulatory initiatives until further notice.

Industry veteran Jamie Lloyd Evans takes a detailed look at digital banking regimes in Asia, and the stated – and unstated – motivations behind them.