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Citibank Korea, BNK Kyongnam Bank and KEB Hana Bank are being investigated by FSS over allegedly manipulating loan rates to overcharge retail borrowers.

New rules on dual class shares will permit equal voting process on certain issues and cap multiple voting shares at 10 votes a share, with sunset clauses to auto-convert them to ordinary voting shares.

Joint report from ISDA, AFME, ICMA and SIFMA shows almost 90% of respondents concerned about exposure to interbank offer rates; close to 80% looking to transition away in the next four years.

ICBC, ABC and CITIC illegally extended loans to unqualified companies or industries, inflated the size of their deposits, engaged in illegal shadow-banking actives, and had shortcomings in their credit risk management.

RBI releases draft rules which would require the use of LEIs for non-derivatives transactions, having already announced a phasing in for OTC derivatives markets.

Progress report shows only only three G-SIBs have achieved full compliance with Principles for effective risk data aggregation and reporting; complexity and interdependence of IT improvement projects cited as main challenges.

FSS found thousands of irregularities in lending rate calculations including omission about income or collateral in credit evaluations, resulting in unfairly high lending rates.

Chinese regulators have been enforcing regulations more strictly to curb financial risk, causing bank NPL ratios to rise to 1.9% at end-May, up from from 1.75% at end-March.

The six month transition period put in place in December 2017 to allow firms to obtain LEIs to comply with MIFID will end on 2 July 2018, as ESMA rules out any extensions in a new statement.

MAS board member Ong Ye Kung pledges to eliminate cheque usage by 2025, while also reducing the need for ATM cash withdrawals, through increased adoption of e-payments.