Singapore's three largest banks are well placed to ward off threats to their market share by fintech firms, even as friendly regulatory policies encourage greater growth in the sector.
HSBC will remove below-balance, counter transaction and annual fees for most personal savings accounts as it braces for incoming competition from newly approved virtual banks.
The FSC and BOK have formed a task force to develop a new benchmark interest rate and improve the current method of calculating the existing benchmark.
In order to maximise efficiency, minimise risk and reduce market fragmentation, national regulators must strive for harmonised margin requirements across the globe, ISDA says.
Most banks now have compensation policies in place that reduce the potential for inappropriate risk-taking. The challenge now is to develop frameworks for assessing their effectiveness.
The Shanghai-London Stock Connect has opened for business, allowing listed companies in Shanghai and London to issue depositary receipts in each other’s markets.
The HKMA has published the findings of its mystery shopper programme, which set out to assess customer interface aspects of bank account opening for SMEs and ethnic minorities.
A thematic review has concluded that authorised institutions have in general applied the risk-based approach to AML/CFT measures, but there is room for improvement.
China has held a launch ceremony for Shanghai's new board, termed the 'SSE STAR Market'. Trading is expected to commence within 2 months with about 30 companies.
Authorities in Singapore and the UK have agreed to enhance cooperation in cyber security, data connectivity, talent development and green finance.