Tencent Credit and Alibaba’s Sesame Credit hold more customer data than any of their online lending peers, but they are not providing the data to the national credit database.
A working group will be formed to implement mechanisms for cross-border equity offerings, dual listings and depositary receipts between the two countries.
Although 84% of financial firms have a formal LIBOR transition plan in place, only 18%of them describe their programmes as ‘mature', according to a new Accenture report.
The paper proposes that payment gateways and payment aggregators be required to have a minimum net-worth of 1 billion rupees, among other requirements.
SAFE has asked financial institutions to monitor for leveraged forex trading and blacklisted 43 FX firms amid signs that illegal capital outflows have been increasing.
The ACCC’s Rod Sims said the lack of competition is not surprising in a market dominated by four players, where no other players have managed to make serious inroads to displace them.
Based on the results, the 2006 ISDA Definitions will be adjusted to incorporate fallbacks for new IBOR trades, and a protocol for including fallbacks in legacy IBOR contracts will be published.
Sales desks in China, Hong Kong and Singapore all recorded rises in FX trading activity compared to three years earlier. The UK increased its dominance despite Brexit fears.
RBNZ governor Adrian Orr says the sector has failed to demonstrate the necessary urgency and prioritisation to provide effective governance and monitoring of conduct risk.
Hong Kong virtual banks are reportedly delaying plans to start promotional campaigns partly in response to city-wide protests, among other reasons.